Global equity crowdfunding platform OurCrowd has dived into the world of Wall Street for its next hire. Anthony DeChellis, former CEO of Private Banking Americas at Credit Suisse has been appointed President of the fast growing, innovative platform. Deckles has held multiple executive positions in traditional finance including head of Private Wealth Management at UBS and Private Banking in Europe for Merrill Lynch where he worked for 15 years. The new hire is another sign of the profound shift in the financial industry as more financial executives see opportunity in investment crowdfunding platforms. Dechellis’ non-compete agreement ended this past October. DeChellis will operate out of OurCrowd’s New York office.
“Anthony DeChellis has joined OurCrowd because equity crowdfunding has become a major force in disrupting the future of capital markets,” says OurCrowd CEO, Jon Medved. “Crowdfunding is now competing with traditional sources of capital by delivering more efficient investment flows driven by transparent and collaborative processes. DeChellis, who ran wealth management businesses at three of the world’s largest banks, now brings to OurCrowd his critical global perspective and proven industry leadership.”
Anthony DeChellis commented on his new position;
“I am pleased to be joining the equity crowdfunding market leader OurCrowd, which is bringing capital to entrepreneurs with ground breaking efficiency. OurCrowd has opened up opportunities for investors who were previously shut out of this alternative asset class. Broadening the VC investor community should serve to not only democratize wealth creation opportunities, but also enhance the probability of success for those companies who engage and fund through ‘the crowd.’
Based in Israel, OurCrowd is one of the world’s largest equity crowdfunding platform for that facilitates investments in Israeli and global companies. OurCrowd vets and selects each opportunity, The company is unique in the fact it invests its own capital in each offer. The platform is more of a hybrid as it charges 2% of investor money as a fee plus takes a 20% of the profit above a predetermined threshold once there is an exit The platform assists beyond raising capital by providing mentors and supporting young companies as they grow. OurCrowd has raised over $100 million and recently saw its first portfolio company publicly list on NASDAQ (ReWalk) further validating their model.
OurCrowd is only available to accredited investors today. OurCrowd does not expect to allow non-accredited investors to participate in its offers even once final rules allow retail investors to participate.