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TECH: Flatfair founder makes ‘unusual’ sideways move to share CEO role

Founder and CEO Franz Doerr is to share power at the top with Gary Wright, who is to run the company on a day-to-day basis.

Nigel Lewis

flatfair deposit alternative

All change at the top for deposit alternative platform flatfair where co-founder Franz Doerr has made way for former Zero Deposit chief Gary Wright.

The pair are now in the highly unusual position of being joint CEOs of the company with Wright running its operations and Doerr being responsible for finances and corporate strategy.

Wright has been with the company since February 2021 but before that held the post of Chief Operations Officer at Zero Deposit for over two years.

The decision to split responsibilities at the top, which makes Flatfair unique within the property industry, is to enable the two men to ‘focus on their specialisms’.

Chief Technical Officer and co-founder Bartosz Alksnin will work closely with Wright, strengthening the Executive Committee and steering the company’s continued growth.

Flatfair was founded in 2017 by Doerr, Alksnin and now-departed Daniel Jeczmien as a payment platform for the private rented sector and in 2019 raised £9 million in funding from several investors including Jeremy Helsby, Savills’ former global CEO.

Deposit alternative

“The company has seen rapid growth since I first joined 12 months ago, and I’m looking forward to leading day-to-day business operations in order to expand flatfair’s position as the leading deposit alternative provider,” says Wright.

“The company is going from strength to strength, and I am excited about working with this great team to build on our achievements of last year.

Doerr adds: “I look forward to focusing on…ensuring flatfair has the resources to become the safety net for all residential transactions in the UK and beyond.”

February 9, 2022

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