Crowdfunding platform Crowdcube founder Darren Westlake has stepped down as chief executive and has been replaced with two co-CEOs.
Crowdcube is now led by its former chief operating officer, Bill Simmons, and chief commercial officer, Matt Cooper.
“I’m incredibly proud of what we have achieved but after 13 years, more than 1,800 successful raises, over 1 million investors and €1.5bn of capital raised, it feels like a good time for me to step back from the company,” said Westlake, co-founder of Crowdcube.
Devon-based Crowdcube has hosted crowdfunding campaigns for businesses such as Brewdog, Monzo, Moneybox and Freetrade. Last year, mapping service What3words raised £5m on the crowdfunding site.
Westlake, who co-founded Crowdcube with Luke Lang in 2012, will remain a major shareholder in Crowdcube and is going to “explore new projects”.
“It was Darren’s inspirational vision that attracted me to the business in the first place. I could not be prouder of our work to build the largest and most advanced equity crowdfunding platform in the world,” said Simmons, who is also a crowdfunding advisor for London-based venture capital firm Love Ventures.
“Capital raising and investing in private companies have never been so exciting – we’re incredibly proud to lead the business into the next chapter.”
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