Having raised £5.4 million through fundraising, The Panoply is now listed on the AIM market of the London Stock Exchange.
The digital transformation services group is listed under the stock ticker TPX, where ordinary shares were priced at 74p, valuing the group at £30 million.
Founded in 2016, the group consults businesses across Europe, to them digitally transform businesses for the automation age. Clients include Unilever (LON: ULVR), BBC, National Trust, Funding Circle (LON: FCH) and DVLA.
According to the group, the key to the future success of the company is through a combination of an organic and acquisitive growth strategy. It will hope to acquire companies to build clusters across Europe and support them in achieving faster growth.
Target companies will be profitable, without debt and show potential for clear sales synergies with the Enlarged Group.
The Panoply offers a new decentralized, nonhierarchical, operating model as the 4th industrial revolution arrives.
Neal Gandhi, The Panoply’s chief executive, said:
“The Panoply is a services company assembled to meet the demands created by the “fourth industrial revolution”, combining the very best talent to service the growing technical needs of clients with innovation, creativity and efficiency.”
“With digital transformation becoming more and more critical to companies’ success across many verticals, this is the right time for a digitally native business such as ours to come to the market and capitalise on that structural shift. The old consultancy model is dying, and our decentralised, agile operating model is here to take its place.”
“We have ambitious growth plans and are confident that AIM will be the right platform to support us in rapidly scaling the business. Admission to the exchange will bolster our brand and provide the capital necessary to pursue further sustainable growth,” he added.
Following admission, the group will have 40,601,642 Ordinary Shares in issue.