UK-based challenger bank TruFin has raised £70m ($98m) after listing on the London Stock Exchange's AIM market. The company said it had received a "significant" amount of interest from institutional investors and was in talks with potential lenders. Henry Kenner said that listing on AIM would enable the company to supply more capital to its subsidiaries, which are set to grow significantly.
UK-based challenger bank TruFin has raised £70m ($98m) after listing on the London Stock Exchange's AIM market. TruFin owns a 15% share of Zopa, Europe's largest peer-to-peer lending platform, as well as the entirety of short-term lender Oxygen Finance, working capital finance unit Satago and supply chain firm Distribution Finance Capital. Henry Kenner said that listing on AIM would enable the company to supply more capital to its subsidiaries, which are set to grow significantly.