Funding Xchange appoints John Allbrook as Chairman
Funding Xchange (FXE), the leading Government-appointed online platform for business funding, announces the appointment of John Allbrook as Non-Executive Chair of the Group. He will help steer the Group to the next stages of its development, with the focus on supporting the delivery of digital solutions for the SME finance sector.
John Allbrook joins FXE following the successful launch of the FXE Technologies brand in 2021. FXE’s technology platform digitises eligibility and affordability assessment and today powers Tier 1 banks’ customer triage journeys, delivers Portfolio Monitoring solutions to manage in-life portfolios and provides digital broker technology. John will be working with the management team to set up a successful Series B investment round in 2023 capitalising on the strong growth in delivering Technology solutions.
John Allbrook is an experienced leader in global corporations, private equity and AIM-listed businesses across Financial Services, Business Services and Technology sectors, with a strong background as a non-executive director in Private Equity and Venture Capital backed businesses. He is an established NED, currently chairing asset-based lender Independent Growth Finance, and Cellesce, a leading biotechnology company. Previously, he chaired both Syscap and Franchise Finance through periods of impressive growth and on to successful exits.
On joining Funding Xchange, John Allbrook said, “Funding Xchange is changing the way in which SMEs gain access to finance and helping many lenders develop smarter, more efficient digital tools and pathways. I very much look forward to working with Katrin and the team as the business continues transforming the way the SME financing market operates.”
John Allbrook succeeds John Ott, who led Funding Xchange through its successful series A funding and the award of a £5 million BCR grant, as well as overseeing the launch of FXE Technologies.
Co-Founder and CEO of Funding Xchange, Katrin Herrling said, “We are extremely grateful to John, who has provided terrific support for Funding Xchange over many years as an investor, Board member, and for the past three years as the Chair. Under his leadership, the Group has matured both in its capital raising and strategic direction. We understand John’s need to free up time for an intensive new Chairmanship but look forward to his continued passion for FXE and his continued advice to the board and the management team.”