London Stock Exchange welcomes TruFin plc to AIM
London Stock Exchange today welcomes TruFin plc, the fintech and banking businesses to trading on the AIM market.
TruFin plc joins the market today after a successful capital raising to professional and institutional investors with gross proceeds of around £70 million.
TruFin is the holding company of an operating group comprising three growth-focused FinTech and banking businesses operating in three niche lending markets: supply chain finance, invoice finance and dynamic discounting. TruFin currently has 100 employees, and offices predominantly in the UK and a small team in the US. In addition, TruFin owns a c.15% minority stake in Zopa, a leading UK consumer P2P lender, which operates independently of TruFin. TruFin currently operates under three separate businesses, each of which has a seasoned leadership team: Distribution Finance Capital (DFC - supply chain finance), Satago (invoice finance) and Oxygen Finance (dynamic discounting).
Henry Kenner, Chairman and Chief Executive of TruFin plc said:
“We are very pleased to have successfully completed the process of becoming a public company. The net proceeds of our Capital Raising will be invested in the business.
The financial services market is being disrupted by new technologies, new players and new expectations from customers. Being listed will allow us to take advantage of these disruptions. “
Key advisers on the Placing and Admission included Macquarie Capital (Europe) as Nominated adviser and Broker, Deloitte LLP as reporting Accountants and Auditors, Travers Smith as Solicitors to the company, Stephenson Harwood as Solicitors to the Nominated adviser, Equiniti (Jersey) Ltd as Registrars, and Blue Pool Communications as Financial PR adviser.