Moneybox Completes First Private Securities Market Transaction, Valuing Fintech at £800 Million | LeapRate
The London Stock Exchange said Wednesday that it has welcomed the first transaction by leading UK fintech Moneybox on its Private Securities Market, with the wealth management platform completing a £45 million permissioned auction for long-serving employees, valuing the company at approximately £800 million (around $1.1 billion).
Crowdcube, acting as Registered Auction Agent, exclusively managed the employee selling and investor purchasing process, assisted by Cavendish, while Latham & Watkins acted as Moneybox’s legal advisor.
Karen Kerrigan, COO of Moneybox, said the transaction “marks an important milestone for Moneybox as we celebrate our tenth anniversary.”
She added that the company has “built a profitable business that is no longer reliant on raising primary capital to fund growth,” allowing it to reward employees while welcoming long-term institutional investors.
Kerrigan said the Private Securities Market provided a way to do this “using public market infrastructure, while remaining a private company and retaining control over how and when liquidity is provided.”
Dame Julia Hoggett, CEO of London Stock Exchange, said the exchange was “delighted to be part of Moneybox’s growth journey,” supporting the company as it gives long-serving employees the chance to realise value they helped create.
The Private Securities Market gives private companies and their shareholders, including employees, access to intermittent liquidity auctions, leveraging the London Stock Exchange’s public markets infrastructure while retaining control over trading frequency, investor access and price formation.
Built on the UK Government’s PISCES framework, existing EMI and CSOP options can be amended to allow exercise and sale on PISCES venues.
