Eight Capital Partners plc (ECP) has undergone a transformation. It’s announced plans to become a financial services operating company, unveiled a comprehensive balance sheet restructuring and has appointed a CEO.
The aim is to grow a business focused on the emerging fintech sector, and chairman Dominic White says the company is even more nimble and ready to become immersed in the cutting edge of fintech using blockchain and related exponential technologies. "We are very interested in asset management, very interested in the fintech banking area and the wider world of supply chain finance which is particularly underserved for small and medium sized enterprises."
Newly appointed chief executive David Bull is a former Bank of England chief accountant with a digital banking background and very keen on specialised crypto banking. His mandate according to White is to assist Eight Capital's transition "from where we are right now to becoming a financial services operating business with several operating divisions in the fintech space."
The change at the company mirrors the speed of change in the fintech space. White says the company is ready to capitalise on the demand for fintech services and decentralised finance. He cites the success of e-money institution Revolut and says there are more businesses like it "growing to billion dollar businesses within 12 months, billions of dollars of assets under management, scaling extremely rapidly but still not being accessible to a lot of people."
White reiterates that this is the time to jump in. "It’s just the level of positive noise around it. This is the time. Eight capital is ready for it. We’ve got assets that we can use to restructure and strengthen the business so we can go for it and the right people are talking to us about partnering with us so let’s get on and do it."
Eight Capital Partners Plc (ECP.PL)