Crowdcube CEO steps down
Darren Westlake, the co-founder and chief executive of equity crowdfunding platform Crowdcube, has stepped down from the role after more than a decade.
The company’s chief operating officer Bill Simmons and chief commercial officer Matt Cooper have been named as co-chief executives, effective immediately.
Westlake founded the company alongside Luke Lang in 2012. Lang left Crowdcube in June 2021 and went on to become executive chairman at peer-to-peer lending platform Plend.
In a statement, Crowdcube said that Westlake “will take some time to explore new projects.” He remains a major shareholder in the business.
Westlake said that he is “delighted” for Simmons and Cooper, and “incredibly proud” of what Crowdcube has achieved over the years.
He noted that the crowdfunding platform had completed more than 1,800 successful raises, attracted over one million investors and raised more than €1.5bn (£1.33bn) of capital.
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“It feels like a good time for me to step back from the company,” he said.
“Together with the rest of the board, a succession plan has been formulated over the past 12 months ensuring that Bill and Matt will have the tools and support they need to build on everything Crowdcube has achieved to date and fully explore all the possibilities that lie ahead.”
Both Bill Simmons and Matt Cooper joined Crowdcube in 2014. Since then, the company has seen a 1,770 per cent increase in registered investors and a 580 per cent increase in the amount of capital invested on the platform.
“It was Darren’s inspirational vision that attracted me to the business in the first place,” said Simmons.
“I could not be prouder of our work to build the largest and most advanced equity crowdfunding platform in the world. Capital raising and investing in private companies have never been so exciting – we’re incredibly proud to lead the business into the next chapter.”
Cooper added: “We have an outstanding opportunity to grow the business and expand internationally with the team in place to deliver it.
“I am honoured that I will be leading the business forward alongside Bill, someone who I know cares as passionately about Crowdcube as I do.”
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