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Ve Interactive sees CEO-switch as part of funding round to relieve late payment crisis

March 6, 2017 | 2 min read

Under-fire Ve Interactive, a UK-based digital startup valued at over $1bn, has confirmed that its latest funding round has been accompanied by the exit of company co-founder David Brown from its chief executive role. Instead, he will act as a technology adviser, with Martin Tonnesen CEO of Aston Ventures to take over from the role.

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Ve Interactive had been touted as one of the few UK-based unicorns in digital

The switch in company leadership, as well as its latest funding round (which still remains an undisclosed sum), comes after Ve Interactive struggled to pay its workforce on time repeatedly in 2017, with Aston Ventures leading a consortium of financial backers in Ve, which has also received an immediate cash injection ahead of a “significant sum” of investment capital, according to reports.

Ve has been valued at over £1.5bn in the past, with offices in up to 28 countries, and the outfit making a number of purchases in recent years and the company being labelled as one of the few ‘UK unicorns’, with its recent woes topping a series of similar setback for adtech companies, with a host of US and UE-based outfits having to make a significant number of layoffs in recent months.

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