Birchal cofounder Matt Vitale steps down as CEO, citing burn out

Matt Vitale, the CEO and cofounder of Birchal, has stepped down from his leadership role and away from the business, saying he was “a bit broken” after eight years of building the pioneering crowdfunding platform.

Techstars boss Kirstin Hunter will take on an advisory role as CEO transition lead in the interim, Birchal chair Adam Vise said, as the search for a new CEO gets underway.

Announcing the changing of the guard on LinkedIn, Vitale said that while turning the equity crowdfunding platform into the market leader was one of the most rewarding experiences of my life” the reality is that building a business comes at a great cost and takes a personal toll.

“While my resilience and stamina have often felt limitless, in 2024, I found my limit—and pushed past it,” he wrote.

“I’m a bit broken. I need time to repair and recuperate. I’ve realised the importance of stepping back to prioritise my health and well-being, so for now, I’ll focus on mastering the art of being still (or at least trying!), and spending more time with those I love.

“After a well-deserved break, I’ll consider where my next passion lies. But first, I need to recharge and reset for the journey ahead.”

Vitale said Birchal is “in an incredible position, with a fantastic team steering the ship into calmer waters as economic conditions improve”.

He thanked Adam Vise saying he was “in every way, our third cofounder”

The Birchal chair said Vitale was the driving force behind the company’s success and the introduction of crowdfunding to Australia, but added a warning about mental health being “an invisible fight that no one else can see”.

“His resilience and vision have left an indelible mark on the business, the startup ecosystem and founders across Australia, ” Vise said.

“Matt’s decision serves as a powerful reminder that mental health and wellbeing are essential, no matter the role we play in life or business. The demands of leadership, like any challenge, underscore the importance of prioritising self-care and recognising when it’s time to pause and recharge.”

Last month Birchal ended 2024 by raising $2 million in just 29 hours from more than 800 investors – its third capital raise on its own platform.

Birchal has now raised a combined total of $7.39m via CSF and counts Dom Pym, who’s backed Birchal from the outset via his family office Euphemia, among its cornerstone investors.