
The information contained within this announcement is deemed by the Company to constitute inside information under the UK Market Abuse Regulations. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
14 February 2025
Fiinu Plc
("Fiinu", the "Company" or the "Group")
Equity Fundraise and Total Voting Rights
Fiinu, a fintech group and creator of the Plugin Overdraft®, is pleased to announce that it has raised gross proceeds of £1,250,000 through the issue of 12,500,000 new ordinary shares at 10 pence per share (the "Subscription Shares"). The Subscription Shares were issued in response to market demand, and the funds will be utilised to develop its Plugin Overdraft® product as a white-label offering, as previously announced, and to provide additional working capital.
The Fundraising is subject to the Subscription Shares being admitted to trading on AIM ("Admission"). The Company has the authority to issue and allot the Subscription Shares pursuant to certain existing shareholder authorities granting such powers to the directors at the Company's Annual General Meeting held on 24 May 2024. Application will be made for the Subscription Shares, which will rank pari passu with the existing ordinary shares, to be admitted to trading on AIM. Admission is expected to occur on or around 19 February 2025.
Following the issue of the Subscription Shares, the total issued share capital of the Company will consist of 287,247,246 ordinary shares of 10 pence each. The Company does not hold any ordinary shares in Treasury, therefore the total voting rights in the Company following Admission will be 287,247,246. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
The Directors of the Company are responsible for the release of this announcement
*ENDS*
For further information, please contact:
Fiinu Plc Dr. Marko Sjoblom, marko@fiinu.com | Tel: +44 (0)1932 629 582 |
SPARK Advisory Partners Limited (Nomad) Mark Brady / Jade Bayat | Tel: +44 (0) 203 368 3550 |
SP Angel Corporate Finance LLP (Joint Broker) Bruce Fraser / Ezgi Senturk | Tel: +44 (0) 207 470 0470 |
Oberon Capital (Joint Broker) Nick Lovering / Adam Pollock | Tel: +44 (0)203 179 5355 |
About Fiinu
Fiinu, founded in 2017, is a fintech group that has developed the Plugin Overdraft®, an unbundled overdraft solution that allows customers to have an overdraft without changing their existing bank. The underlying bank Independent Overdraft® technology platform is bank agnostic, enabling it to serve all other banks' customers. The Plugin Overdraft® platform can technically access over 100 million bank accounts in the UK. Open Banking allows Fiinu's Plugin Overdraft® to attach ("plugin") to the customer's existing primary bank account, no matter which bank they may use. Fiinu's vision is built around Open Banking, and it believes it increases competition and innovation in banking.
For more information, please visit www.fiinuplc.com
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.