Finseta plc (AIM:FIN) has raised approximately £0.9 million before expenses via a placing (£0.71m) and a director-backed subscription (£0.15m) at an issue price of 8.5p per share, around a 15.0% discount to the 10.0p close on 13 April. The group also proposes a Retail Offer to raise up to a further £0.1 million via up to 1,176,470 shares. Assuming full retail take-up, the Fundraising Shares would equal roughly 15.95% of enlarged share capital.
Net proceeds will "provide increased transaction capacity which will allow the Group to transact larger volume business-to-business transactions" and to progress applications for regulatory permissions in Europe. Finseta forecasts this could deliver approximately £2.8m of incremental steady-state revenue per annum by the end of the second year after approval.
Customer acquisition has picked up in early 2026, with a shift toward corporate clients and stronger like-for-like trading from the Dubai operation following UAE approval in March 2025. Shore Capital and Allenby Capital acted as joint bookrunners; Allenby is also appointed joint broker.
"The proceeds of the fundraising will support the Group's continued growth, both by allowing us to continue to expand our international reach and regulatory permissions, and by providing capital for greater capacity to serve the needs of our corporate client base," said James Hickman, Chief Executive Officer.
