Mode Global Holdings secures £6m funding
Mode Global Holdings PLC, the LSE-listed fintech group, has announced the successful completion of a materially over-subscribed placing, arranged by Peterhouse Capital Limited, to raise £6,000,000 to support the continuing rapid growth of Mode’s new-breed financial products and services.
Investors included high net worth family offices and professional investor clients of Peterhouse Capital.
Jonathan Rowland, Executive Chairman, commented: “As with the Mode offering at the time of our IPO last October, this placing was significantly oversubscribed. We are especially gratified that we have now attracted, as a result of this placing, a range of new institutional shareholders.
“These additional funds will also provide the Company with strong cash reserves to push forward our stated near-term strategic objectives, which will include launching a revolutionary payments solution powered by Open Banking that eliminates the need for cards.
“The Company has been extremely busy since our October IPO, but shareholders can expect with these additional funds that we will now accelerate these ambitious and exciting development plans. Mode is in the right place, at the right time, and shareholders can confidently now look forward to exciting news in the near future.”