Netcapital Appoints Rich Wheeless as CEO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 08 2025
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Should l Buy NCPL?
Netcapital announced the appointment of Rich Wheeless as CEO. Former CEO, Martin Kay, will remain as an advisor to the company. Wheeless is a seasoned executive with more than 20 years of financial leadership and corporate management experience across multiple industries in both public and private enterprises. He was most recently the Chief Executive Officer of a publicly traded logistics and warehousing solutions company and has served as an active investor, adviser, and board member for numerous privately held organizations.
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Analyst Views on NCPL
About NCPL
Netcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. It provides private company investment access to accredited and non-accredited investors through its online portal (www.netcapital.com), which is operated by its wholly owned subsidiaries Netcapital Funding Portal, Inc. and its broker-deal subsidiary, Netcapital Securities Inc. In addition to access to the funding portal, it provides services, including a fully automated onboarding process; automated filing of required regulatory documents; compliance review; a custom-built offering page on its portal Website; third party transfer agent and custodial services; e-mail marketing to its list of investors; rolling closes, which provide potential access to liquidity before the final close date of an offering; assistance with annual filings, and direct access to its team for ongoing support.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Strategic Shift: CEO Rich Wheeless stated that this acquisition supports the company's transition to tokenization and digital asset offerings, aiming to deliver an approachable and visually appealing tokenization experience in the market, reflecting a commitment to future growth.
- Potential Benefits: Post-acquisition, Netcapital plans to leverage AI-assisted design workflows to shorten turnaround times for motion graphics and investor materials, while also providing 3D visualization capabilities to showcase tokenized real-world assets, thereby improving the consistency and quality of investor-facing content across its ecosystem.
See More
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- Talent Acquisition: Michael Iverson, founder of Iverson Design, joins Netcapital as Chief Design Director, leveraging his expertise in AI design to drive innovation in the company's tokenization investment strategies.
- Technology Integration: This acquisition provides Netcapital with AI-driven design, animation, and real-time rendering technologies, expected to shorten turnaround times for investor materials while improving content quality and consistency.
- Market Opportunity: By simplifying the narrative around tokenization and digital asset concepts, Netcapital aims to make these ideas more accessible to everyday investors, thereby expanding its investment opportunities in the private market and driving long-term growth.
See More
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See More
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- Operating Loss Situation: The operating loss stood at $2,119,457, showing slight improvement from $2,202,431 a year ago, yet the ongoing losses highlight challenges in profitability that could affect investor confidence.
- Cash Flow Improvement: As of October 31, 2025, cash and cash equivalents reached $1,684,188, a substantial increase from $289,428 on April 30, 2025, demonstrating positive progress in liquidity management.
- Strategic Acquisition: The company completed an asset purchase of Rivetz Corp. on December 3, 2025, aimed at enhancing its ability to participate in the compliant blockchain digital asset market, which is expected to drive revenue diversification and strengthen market competitiveness going forward.
See More
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- Operating Loss: The company recorded an operating loss of $2,119,457, which, while an improvement from the previous year's loss of $2,202,431, indicates ongoing challenges in its business model that necessitate a faster transformation to achieve profitability.
- Asset Acquisition: On December 3, 2025, Netcapital completed an asset purchase of Rivetz Corp., enhancing its ability to participate in the compliant blockchain digital asset market, which is expected to drive future revenue diversification.
- CEO Strategic Update: Newly appointed CEO Rich Wheeless will host a business update conference call on December 16, 2025, aimed at communicating the company's strategic direction and growth potential to investors, thereby enhancing market confidence.
See More
