Connecting Excellence Group Plc (XCE) CEO Scott Ellam talked with Proactive's Stephen Gunnion about the company's planned IPO on the Aquis Growth Market and its unique strategy combining executive recruitment with a Bitcoin treasury model.

Ellam explained that XCE – Connecting Excellence Group – is the holding company for Spencer Riley, an international executive recruitment business. The company distinguishes itself by allocating surplus cash flows into Bitcoin since 2021, using it as a long-term treasury reserve.

He highlighted that the planned fundraise of at least £1.5 million will primarily support additional Bitcoin purchases. “The vast majority of funds are directed towards buying Bitcoin,” Ellam stated. This strategy, he said, helps attract revenue-generating talent to the recruitment business, creating a compounding effect between operations and treasury.

The company has assembled a board with deep expertise in digital assets, including Sam Roberts, Vijay Selvam, and advisor Richard Byworth. It also counts Adam Back as a key strategic investor.

Despite market volatility, Ellam noted that operating revenues have doubled in some years. He emphasised that the business is sector-agnostic and regionally flexible, working with clients ranging from global logistics firms to the Big Four.

Looking ahead, the company plans to support Bitcoin-native businesses with executive talent. Ellam said XCE has been retained by a Bitcoin investment fund and is in talks with US venture capital firms to place senior hires.

He sees Bitcoin as a multi-trillion-dollar opportunity and views XCE as a potential gateway for institutional and retail investors looking to engage with the asset class via equities. “We are also at the forefront of the corporate Bitcoin adoption wave,” he said.

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