By Oliver Smith on Wednesday 24 July 2019
The co-founder says reports of his retirement are greatly exaggerated, with a new startup already in the works.
After leading SyndicateRoom since co-founding it in 2013, CEO Goncalo de Vasconcelos yesterday announced he will be stepping down from the role and assuming a non-executive role as a director on the company’s board.
Speaking to AltFi Vasconcelos explained: “it was really about my personality, SyndicateRoom got to a point where it was becoming busier, but also a very steady ship, where we’re doing the same thing better and more efficiently.”
“I just get really bored with that to be honest,” he laughed.
Taking over from Vasconcelos in the top job is former COO Graham Schwikkard, who has been with the company for over three years, something the departing CEO said was core to maintaining consistency in the business.
SyndicateRoom is one of the “big three” equity crowdfunding platforms in the UK and, while it often plays second fiddle to its larger rivals Seedrs and Crowdcube, the company has earned a coveted position as the more professional platform.
It also boasts to offer more protection to its investors, including legal protections like pre-emption rights to avoid mandatory dilution.
A two-time winner of AltFi’s Crowdfunding Platform Of The Year award, SyndicateRoom also became the first and only crowdfunding platform to be granted intermediary status with the London Stock Exchange enabling its investors to take part in public market raises.
While Vasconcelos joked on LinkedIn that the announcement was his “retirement”, he told AltFi that he has already started work on a new business, the details of which are “still confidential”.
“I’m a huge believer that people should be really passionate about what they’re doing, so let me do really long hours, let me be really stressed if that’s the case.”
“I got the greatest gift I could ever want, the freedom to be an entrepreneur again.”