Phil Morgan, former chief finance and operating officer at GoCompare.com, has become as head of a new business at MotoNovo Finance.

He will head its dealer focussed classified service FindandFundMyCar.com, launching and developing the all-new vehicle sales website, which is described as being designed  ‘by dealers for dealers’ to provide a fresh ‘not for profit’ alternative classified option, with all advertising revenue earmarked for “high profile consumer marketing”.

MotoNovo’s motor division chief executive Karl Werner said:”FindandFundMyCar.com aims to harness a competitive edge by bridging the gap between online consumers and dealer finance.

“Customers will have access to a wide selection of used cars, access to car specific finance products and the convenience and strong acceptance levels and affordability features inherent to dealer finance.”

FindandFundMyCar.com has already signed up 1,500 dealers which together would see the service provide access to more than 75,000 used vehicles for sale.

The service is on track to be fully operational by September.

Morgan said: “In six years at Gocompare.com, we grew the business significantly in scale and reputation. I see similar opportunities with FindandFundMyCar.com.

“Both entered the market to provide innovation and exceptional customer experience, and having already achieved remarkable success.

“By challenging the established market and offering something genuinely fresh, FindandFundMyCar.com has all the ingredients to make waves within the industry and enhance the way car finance is provided to customers across the UK.”