Revolut’s chief revenue officer Alan Chang is exiting the British fintech to pursue a new crypto venture.
Chang is seeking to raise $100m in financing for a new venture by offering future access to tokens to early stage backers, Bloomberg first reported. According to those familiar with the matter Chang has himself invested millions of dollars in the new venture.
“After almost 7 years, Alan Chang will be leaving Revolut. Alan has been with us since almost day 1, and he has helped shape the Revolut product and build the Revolut team,” a spokesperson for the firm City A.M, in an e-mailed statement. “We wish him every success in his new venture.”
Chang joined Revolut as its fifth employee back in 2015 and has watched the start up grow into a $33bn fintech behemoth. He resigned as a director of Revolut last month and is listed as the director of a new venture called Fuse Supply Limited on Companies House.
Chang is the latest executive to turn his back on traditional finance for crypto. News of Chang’s departure comes on the same day that Citi Group’s co-head of digital assets, Alex Kriete, announced he would be leaving the bank for a new crypto venture.
The former head of the London Metal Exchange recently left the post to join blockchain start up Komainu as chief executive.