David Luck / Capital on Tap
Capital on Tap co-founder David Luck hands over CEO role
Chief product officer Damian Brychcy will immediately step into the role, with Luck moving to executive chair
UK-based SME lender Capital on Tap has announced a significant leadership change with co-founder David Luck handing over the role of CEO to chief product officer Damian Brychcy after over a decade in the role.
Brychcy is a long-serving Capital on Tap executive having joined the company in 2014 and previously served as chief operating officer, he also co-founded a podcast media company Colossus.
Luck founded Capital on Tap in 2012 and is stepping into the new role of executive chairman in order to focus on the lender’s long-term strategy and vision, while handing over day-to-day operations to Brychcy.
"Guiding Capital on Tap for over 10 years has been a remarkable journey," Luck said on his role change.
"I have worked closely with Damian since founding the company, and he has a proven track record driving growth and innovation. There is no one better to lead Capital on Tap through its next phase of expansion."
Capital on Tap said the role change is happening immediately in order for Brychcy to take over the operational side of the business from the start of 2024.
"David's vision and leadership have made Capital on Tap the success story it is today," Brychcy said.
"Having been a small business owner myself, I understand the pain and struggle that business owners go through, especially when it comes to getting access to finance or payment tools. I am truly excited to continue on that mission of serving the needs of small business owners all around the world.”
The shift from co-founder and CEO to executive chair has been growing in popularity as fintechs and alternative lenders spend longer and longer as private companies, with Michael Mueller at Form3 and Charles Delingpole at ComplyAdvantage as two recent examples.