Grafton Capital has secured a majority position in Third Financial following a £7m investment.
"Our vision for the company is to be the go-to provider of technology and custody services for investment firms. While the backbone of our operation is the servicing of traditional wealth managers and advisers, there is also a huge appetite from a raft of exciting fintech companies that require back-end operations, custody and infrastructure to help them bring their innovations to market. Our FCA-regulated service gives all of our customers a cost-effective and holistic solution which is continually updated with new features in response to client needs."
The debt facility was led by Avellinia Capital with backing from Clerville Investment Management.
"We believe the days of one-trip ownership are coming to an end. Under Raylo’s circular model, devices will be used by a minimum of two people over a lifespan of six to seven years."
London Stock Exchange Group and other major backers join Series B round to support international growth and technology development.
"The COVID-19 pandemic demonstrated the effectiveness of the public markets, with companies recapitalising quickly and efficiently. Our technology has allowed thousands of retail investors to participate on equal terms with institutional investors, unlocking a large and important source of liquidity and long-term share ownership for corporate issuers. The response from Boards and their advisers to our solution has been excellent: they recognise our digital solution for retail inclusion brings together both good governance and best execution."
The seed round drew backing from a group of digital and blockchain focused venture firms, including Alameda Research and CoinFund.
"Getting our FCA regulation in place and building the exchange platform were huge first milestones for us. But we obviously also needed the funding in place to meet our regulatory capital requirements to launch. To successfully close our seed raise, and beat our target in the process, was amazing – even more so when you consider the calibre of the VCs who have invested in us."
The company secured the seed investment from nearly 7,000 participants via Crowdcube.
"Since opening pre-registration for the private sale, we’ve had an overwhelming response from users around the world wanting to invest in Wirex. Our performance so far has proven to investors that we are making incredible advances in the fintech and crypto spaces, and this growth will only continue."
