OurCrowd, a leading equity crowdfunding platform, has announced that Anthony DeChellis, former CEO of Private Banking Americas at Credit Suisse, has joined as the President of OurCrowd.
Previously DeChellis was head of Private Wealth Management at UBS and ran Private Banking in Europe for Merrill Lynch. He will be operating out of the firm’s New York Office.
Jon Medved, OurCrowd CEO, commented:
“Anthony DeChellis has joined OurCrowd because equity crowdfunding has become a major force in disrupting the future of capital markets. Crowdfunding is now competing with traditional sources of capital by delivering more efficient investment flows driven by transparent and collaborative processes. DeChellis, who ran wealth management businesses at three of the world's largest banks, now brings to OurCrowd his critical global perspective and proven industry leadership.”
Anthony DeChellis added:
“I am pleased to be joining the equity crowdfunding market leader OurCrowd, which is bringing capital to entrepreneurs with ground breaking efficiency. OurCrowd has opened up opportunities for investors who were previously shut out of this alternative asset class. Broadening the VC investor community should serve to not only democratize wealth creation opportunities, but also enhance the probability of success for those companies who engage and fund through ‘the crowd.’”
OurCrowd is the world’s largest equity crowdfunding platform for accredited investors. The platform allows its investors to invest in Israeli and global companies. OurCrowd notched a landmark achievement last year when one of its companies, ReWalk Robotics, became the first equity crowdfunded company to IPO. This proved how successful the crowdfunding model could be and illustrated the potential for other companies who are raising money via the platform.
More platforms are starting to add influential and renowned individuals, particularly ex-bankers, to their boards. For example, just before its IPO Lending Club added Simon Williams, former head of Citigroup’s Global Consumer Group risk management. And Payoff have had some of the most high profile board joins with Arianna Huffington and Mohamed El-Erian signing up. Obviously one of the benefits of these board members is that they bring industry expertise to the platforms, but importantly they also bring an increasing sense of legitimacy to the sector.