Ed Molyneux will leave the company on July 16 after a 14-year-long tenure as its chief executive. He is being replaced by fellow FreeAgent co-founder and current chief product officer Roan Lavery.
During his leadership, Molyneux took the firm from a bootstrapped technology start-up to a top name in the UK tech scene – including becoming the first equity crowdfunded UK company to successfully complete an initial public offering, and being acquired by RBS owner NatWest Group in 2018.
He said: “I’m incredibly proud of what FreeAgent has achieved since we started in 2007. To see the business grow from its humble origins of building the first prototype at my kitchen table to the amazing place that more than 250 people work at now has been a truly humbling experience.
“It’s difficult for any company founder to know when it’s time to move on, but I believe that after 14 years I’ve done everything that I wanted to do as CEO and now is the time for new challenges. I believe with Roan taking the helm, this will mark the start of an exciting new chapter for FreeAgent.
“I have no doubt that Roan’s energy, ideas and relentless customer focus will ensure that FreeAgent stays at the forefront of our industry as it grapples with accelerating change, as banking and accounting converge and as software gets smarter and more connected. I am genuinely excited to see what he – and the company – does next.”