Swedish mobile banking start-up firm Plexian has completed its secondary public offering.
The start-up raised 2.85m Swedish Krona (SEK) (approximately £254,000) to take the company’s valuation (pre-money) to 62m SEK (approximately £5.5m), up from (pre-money) 8m SEK (approximately £712,480) following the initial spring offering.
Sami Sulieman, CEO of Plexian, said: “We have widened share ownership of the company and welcomed a few shareholders of importance, including the CEO of a large Swedish bank, the director of a large international bank, as well as an additional 50 smaller shareholders.
“We now stand strong before the winter launch of our digital company card.
“We thank our shareholders for their commitment and the trust they have shown in the offering.
“Many who had signed up for the initial spring offering were present this time as well.
“Plexian is now right in the middle of the launch of a mobile company card that will offer automatic bookkeeping.
“The offering allows us to keep a sustained high growth.”
Plexian plans to issue a private placement offering of 15m SEK (approximately £1.33m) at the beginning of 2018 to raise funds to apply for a banking licence during Q1 2018, and a planned IPO on the Nordic Growth Market (NGM) during Q2.
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Aldermore introduces new lending tiers
Aldermore has announced the launch of two new lending tiers across its standard range of residential mortgages.
Al Rayan increases profit rate on instant access cash Isa
To celebrate Ramadan, Al Rayan Bank has increased the expected profit rate (EPR) on its instant access cash Isa from 1.22% GPA (gross per annum) to 1.35% GPA.
Close Brothers hires new motor finance CEO
Close Brothers Motor Finance has announced the appointment of Rebecca McNeil (pictured above) as its chief executive officer.
Hampshire Trust Bank appoints Matthew Wyles as CEO
Matthew Wyles (pictured above) is set to become the new CEO at Hampshire Trust Bank, subject to regulatory approval.
U Account introduces cash pay-in option
U Account has launched a cash pay-in option for its 50,000 current account customers.
Aldermore provides £6.27m loan for south London development
Acre Invest has agreed a £6.27m funding package with Aldermore to build a large commercial unit and 18 apartments in Sydenham, south London.
Metro Bank to launch AI-powered money management service
Metro Bank has announced the upcoming release of Insights, a new artificial intelligence-powered money management service.
Over 500,000 complaints made about current accounts
The FCA has revealed that 509,047 complaints were made to financial services firms about current accounts during the second half of 2017.
A guide to ethical banking
Some 56% of workers with a pension are interested in investing in community projects, according to recent research.
Countingup partners with PrePay Solutions
PrePay Solutions (PPS) has joined forces with challenger bank Countingup to provide business accounting and banking together in one place.