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Tuesday, October 23, 2018

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Swedish mobile banking start-up secures new funding

Tom Belger | 07:28 Wednesday 13th December 2017

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.

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