On Wednesday, equity crowdfunding platform Crowdcube announced it has appointed former Citigroup and HSBC executive, Simon Williams, as a new chairman of its board. Williams notably has over 30 years of experience in banking and investment.
The funding portal revealed that Williams is joining the board after he made a significant investment into its business during its latest funding round, which raised nearly £8 million from over 3,500 crowd investors and the venture capital firm, Balderton Capital. Sharing details about the appointment, Williams stated:
“Crowdfunding has revolutionised the financial services sector, allowing entrepreneurial businesses to flourish at a time when securing finance is at an all-time low. Crowdcube has been the leading pioneer in this new wave of financial innovation in the UK and has a great deal more to offer business and investors alike. I am very much looking forward to working with the team during their next phase of development.”
Crowdcube noted that Williams is a long-term supporter of fintech. He has invested and has held board positions with, a number of fintech businesses. He is also an investor in LendingClub (NYSE:LC) and Nerdwallet Inc., He is currently a non-executive director for both companies. He was also an early investor in OnDeck Capital Inc.(ONDK) and is a former director of the company.
Darren Westlake, CEO of Crowdcube, commented:
“Simon’s deep industry knowledge and experience of both the retail banking sector and his early adoption of new financial technology makes him uniquely suited to the role of Chairman of Crowdcube. As our industry matures, it is imperative that we continue to be innovative and retain our customer-first focus. Simon’s impressive track record in consumer banking and wealth management, combined with the regulatory landscape, makes him a perfect fit as our business and the crowdfunding industry evolves. We are delighted that he has decided to become part of our journey both as Crowdcube’s Chairman and as an investor in the company.”
Williams went on to add:
“Having worked in the banking world for many years, I am hugely excited by what disruptive fintech businesses can do to gain market share; bringing in a fresh technology-led approach to improve customer service and make financial products and choices accessible to everyone.”