Ex-Royal Bank of Scotland Director Joins SME Funding Platform Investx September 22, 2018 September 22, 2018 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
NewsSeptember 22, 2018 by Kelly Cromley

Ex-Royal Bank of Scotland Director Joins SME Funding Platform Investx

The crypto industry continues to attract top programmers, management executives and renowned leaders in traditional industries. The latest one to join the list is ex-Royal Bank of Scotland director Richard Chambers, who is joining Investx as the COO (Chief Operating Officer). Chambers has over 14 years of corporate banking experience.

Investx is a blockchain-based platform, which allows established SMEs to gain access to new sources of equity-secured financing. The platform enables businesses to raise capital without a need to take in considerable amounts of unsecured debt. The platform is more or less similar to crowd funding, allowing tokenization of investments to bring liquidity to funds that are typically held unused for years in the conventional Venture Capital and Private Equity markets.

During his tenure in top notch investment banks facilitating private equity backed businesses, Chambers has raised hundreds of millions of pounds of funding. While working at Royal Bank of Scotland’s Corporate Transactions Team, Chambers was centered on raising event-driven loan packages for SME customers, and was quickly able to see the nature of challenges they face.

Chambers explains as follows

“This is a unique opportunity 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. Having come from a traditional banking background, I have witnessed first-hand the large proportion of SMEs which struggle to access funding easily and cost effectively. In many cases, debt is not the most appropriate product as monthly capital repayments and interest charges eat into cash flow.”

He further stated

“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.”

CEO of Investx, Peter Edgar, concluded by saying

“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.”

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.