By Oliver Smith on 19th June 2019
The crypto unicorn loses its European leader.
US crypto unicorn Circle is losing one of its leading lights in Europe as European managing director Marieke Flament has been named CEO of Mettle.
Mettle, the “flanker” bank from NatWest and built by the bank-builders at 11:FS, launched in November as a digital-only offering for business banking customers.
The move comes as SME banking in the UK is rapidly heating up—in part driven by cash distributed by NatWest’s parent company RBS, which has given away £775m to encourage competition in the business banking sector as a condition of its 2008 bailout.
In a comment to the Financial Times Flament said:
“There is a huge opportunity for disruption in SME digital banking. Insight and feedback garnered during the pilot stage have shown that we are in a very strong position to capitalise on this opportunity through Mettle.”
Flament is currently on maternity leave and said on Twitter that she will be “starting soon| at Mettle.
Mettle accounts are currently only available by invitation and the app is not listed publicly on the App Store, however this is due to change in August when Mettle officially launches.