Press releases | Corporate and M&A | 14 Feb 2018

£185 million IPO for TruFin plc

Overview

Travers Smith LLP has advised TruFin plc, the FinTech and banking business, on its £185 million IPO and admission to AIM.

TruFin plc successfully conducted a conditional placing and subscription of Ordinary Shares to raise gross proceeds of approximately £70 million.

TruFin plc is the holding company of an operating group comprising three growth-focused FinTech and banking businesses, Distribution Finance Capital, Satago and Oxygen Finance, operating in three niche lending markets: supply chain finance, invoice finance and dynamic discounting. In addition, TruFin owns a c.15% minority stake in Zopa, a leading UK consumer P2P lender.

The IPO will allow TruFin plc to provide further capital to its subsidiaries and scale faster, pursue new strategic acquisitions and take advantage of any developments in the current financial services market.

Commencement of trading on AIM is scheduled for 21 February 2018.

The Travers Smith team, which advised TruFin plc, was led by Corporate Finance Partner Adrian West, who was supported by Corporate Senior Associate Tom Coulter and Corporate Associate Tom Gubbins.

Macquarie Capital (Europe) Limited acted as Global Coordinator and Sole Bookrunner, and was advised by Stephenson Harwood LLP.