As SMSF Adviser reported last week, the company is working towards an IPO in late 2015.

Mr Fenning’s appointment also follows last week’s announcement of three other new directors to the Class board – Kathryn Foster, Matthew Quinn and Kevin Bungard.

“Tony Fenning has the background, knowledge, experience and most importantly, a solid track-record of business success that we need to round out our board,” said Mr Lambert.

“Mr Fenning has been an outstanding financial services executive, with an impressive history of building high-growth and enduring businesses. His knowledge of what is happening around the world, combined with his understanding of how technology is an enabler of change, is unsurpassed.”