The Fintech company IntegraFin Holdings announced yesterday their intention to float in the London Stock Exchange, details of the disclosure valued the company at an estimated of £500m.
The finance software advice company emerged as one of the first companies in the sector to declare a London listing this year, after years of speculation.
“We have developed a clearly differentiated business of scale with impressive returns and strong margins that operates in a growing market. We have generated positive underlying profits every month since 2003 and the platform has had net inflows every year since launch in 2000,” said chief executive, Ian Taylor.
“There’s always more wealth being generated and more people wanting financial advice,” said Taylor.
After having worked on their IPO plans during the whole 2017, the company’s flotation is set for March.
However, they are not looking to raise money from the float, on the contrary their focus is to allow current shareholders cash in some of their investment.
In order to secure liquidity of IntegraFin shares for an IPO, the top shareholders and advisers were approached by the company to explore their interest in selling shares. A statement released by the company said “nearly all of these shareholders have agreed to sell shares.”
IntegraFin Holdings is a London-based Fintech, which was set up above an Italian restaurant 20 years ago in Shoreditch, in Tabernacle Street.
They provide a software investment platform called Transact which offers online services to UK independent financial advisers, through proprietary technology, a wide range of tax wrappers and an extensive choice of assets.
As of December 2017, they have 150,000 investor clients in their platform, plus 5,100 financial advisers using the software. Last year’s pre-tax profit was of £37m.