Menu visibility control

Video

Events

Startup Surgery

Most Recent

Investments

London startup Cool Cousin raises $2m Seed

Investments

AI-powered authentication platform Callsign raises $35m to boost global expansion

Investments

InsurTech startup Brolly gets £1m Seed co-led by Valar Ventures and Pi Labs

Press Releases

GreenKey Technologies and Red Box Recorders partner to launch integrated trading voice collaboration and compliance recording solution
Leading light in British HealthTech, Network Locum, rebrands to Lantum
SteelEye announces regulatory tech specialist Matt Smith as CEO

Edinburgh-based FinTech firm FreeAgent IPOs on AIM, raises £10.7m

lse_freeagent_edit_002
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Edinburgh-based FinTech company FreeAgent has floated on AIM, raising £10.7m.

The SaaS accounting software provider raised the cash with a market capitalisation of £34m.

Credited with being the first equity crowdfunded company to have raised growth capital before going public in the UK, the firm’s flotation comes after it raised over £1.2m on Seedrs in July last year.

VC investment into UK FinTech ‘fell by 40% in Q2 2017’

Ed Molyneux, CEO of FreeAgent, commented on the news: “We are very pleased to have today been admitted to trading on AIM – this is a transformational event for FreeAgent. I am delighted by the interest shown in FreeAgent by investors, resulting in our successful placing, and equally delighted to welcome on board our new shareholders.

“Our entry to the AIM market is a positive step that marks the next phase of FreeAgent’s development as we progress our growth strategy. We look forward to our future as a quoted company with confidence,” he added.

FreeAgent’s flotation comes after Worldpay raised £2.48bn in the largest FinTech IPO of 2015 and the second largest IPO in London in the last 10 years after it went public in October last year.

James Clark, business development – tech and life sciences at the London Stock Exchange, said FreeAgent’s listing symbolised that the city’s markets continued to be open and available to firms established across the UK as a whole.

“The significant capital raised on AIM this year is a clear sign of the market’s enduring capacity to connect to dynamic companies to permanent institutional and retail capital,” concluded Clark.

Enter your email address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Editor's picks

cool cousin app

London startup Cool Cousin raises $2m Seed
posted 1 hour ago

callsign

AI-powered authentication platform Callsign raises $35m to boost global expansion
posted 2 hours ago

man smiling at colleague

InsurTech startup Brolly gets £1m Seed co-led by Valar Ventures and Pi Labs
posted 4 hours ago

liverpool the north of england

What’s stopping the North of England becoming a major tech hub?
posted 6 hours ago

Limejump

Limejump closes £3m Series A to disrupt the energy utility market
posted 20 hours ago

startup empty office

Mass redundancies at Jinn as startup struggles to succeed in on-demand delivery market
posted 21 hours ago