A technology company that employs Princess Beatrice was forced into bankruptcy proceedings late last year, The Mail on Sunday can reveal.
Afiniti, founded in 2005 and a supplier of artificial intelligence software to call centers, filed for bankruptcy in the US two months ago because the company was struggling with a mountain of debt. Papers show the company had £472 million in debt.
Major lenders were forced to step in to support the company and the debt was successfully restructured last month. But the news embarrasses the princess, just before she attends the World Economic Forum in Davos with Chancellor Rachel Reeves.
The troubles at Afiniti also put the spotlight on Prince Harry’s best friend Tom ‘Skippy’ Inskip, who is president of the company.
Eton-educated Inskip joined the company in 2013 and is also on the board.
Notable former employees include ex-prime minister Lord Cameron, who resigned from the company’s advisory board in 2021, and former BP boss Lord Browne.
Royal appointment: Princess Beatrice works as vice president of strategy at Afiniti
In Davos, the princess will speak on a panel exploring how private capital can be used to tackle climate change. She serves as vice president of strategy and partnerships at Afiniti, where she also plays an ambassadorial role in promoting women in business.
In November, Princess Beatrice spoke about artificial intelligence at an energy conference in Abu Dhabi, where she said Britain’s contribution to the artificial intelligence revolution was “great talent, great individuals”.
It followed her trip to Saudi Arabia for the Future Investment Initiative last month.
The bankruptcy proceedings are the latest in a series of controversies for the company, which just two years ago was tipped for a blockbuster IPO on the New York Stock Exchange.
That would have given Princess Beatrice and Inskip a significant payday as they are believed to own a minority stake in the company.
But the plans were scrapped when Afiniti’s founder and CEO, Zia Chishti, quit in 2022 after a former employee, Tatiana Spottiswoode, accused him of grooming her and then hitting her during sex.
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