Shawbrook Bank has appointed William Chappel to run its new growth capital business.
Chappel (pictured), who has 13 years’ experience in global corporate banking, is tasked with helping the bank achieve its aim of becoming the lender of choice for fast-growing venture-backed companies seeking debt finance.
Shawbrook’s growth capital business specialises in lending to firms at a crucial time in their life cycle when they need finance to maintain accelerated growth.
The growth capital product is designed to extend the runway between equity fund raising rounds, allowing entrepreneurs to continue investing in growth whilst preserving their shareholding. Particularly geared towards technology companies, the product will be available across a range of sectors wherever income-generating VC-backed companies can usefully employ and service debt finance on their journey to profitability.
Chappel, who becomes head of growth capital, joins from HSBC where he was a director and the lead corporate banker in the technology sector. Prior to this, he worked for Barclays, where he was one of the founders of the venture debt team within the bank’s corporate banking department.
Whilst at Barclays, Chappel oversaw high-profile transactions for companies such as music discovery firm Shazam and apartment rental site Onefinestay.
Neil Rudge, interim managing director of business finance at Shawbrook Bank, said: “We have big plans for our growth capital business and William is central to those.
“We understand how debt finance can play a crucial role in helping entrepreneurs, and the investors behind them, successfully take their businesses on to the next stage of their development.
“Backed by a strong team, William will be tasked with growing our own growth capital business and spreading the word that we are here and ready to lend.”
Chappel said: “I came to Shawbrook because the bank values the concept of helping ambitious businesses grow at pace – the types of business that will play a key role in the UK economy as our technology sector continues to innovate, evolve and expand.
“I am looking forward to helping Shawbrook become the go-to finance provider in the UK for Venture-backed fast growth companies.”