RBS’ Richard Chambers joins blockchain funding platform Investx as COO
Former RBS director Richard Chambers has today been announced as Chief Operating Officer for blockchain-powered funding platform for small to medium enterprises (SME), Investx.
Investx helps SMEs to raise funds from equity on its blockchain-based platform, creating a secondary market to provide liquidity in the market and providing a new asset class for investors.
Chambers said: “This is a unique opprtunity to build a business with the capability to match up established SMEs seeking funds with investors who want to invest in SMEs – a market that currently is not open.
“Through Investx, we will provide equity investment into smaller businesses in a cost effective manner by using blockchain technology, and for the first time, we will build liquidity into the investments by creating a secondary market which means investors are not locked in for years. This has the potential to revolutionise how SMEs access capital, and will align investors and businesses with the success of the business.”
In addition to his role at the Royal Bank of Scotland, Chambers has worked for HSBC Leveraged Finance and has previously raised over £500 million in funding for private equity-backed SMEs.
“Investx has built its business on supporting established SMEs in securing capital investment, and we are excited to be able to open this opportunity up to the wider investment community through the Investx crowdfunding platform,” added Peter Edgar, CEO of Investx.
“Investx fills a clear gap in the marketplace for established SMEs which are seeking additional capital but are typically under-supported by traditional lenders. Richard’s vast experience will ensure that demand is high amongst SMEs, and we are proud to have recruited someone of his calibre.”
Investx’s initial coin offering will take place in Q4 2018, and is seeking investors for its private sale.
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