Deals

FinTech February 3, 2021

Cutting-edge UK technology company enters into £2.7 million joint venture with Australian investor

In December 2020 we assisted a UK technology company with the completion of a deal that had been in the making for much of 2020. The deal (going over the line just before Christmas) secures the funding of the company’s operations for the foreseeable future.

The company develops financial trading software and in particular a system for use by a particular customer which is a major metals trading platform.

The transaction involved the acquisition by the company of significant IP created by the company’s founders, the forming of a joint venture with an Australian company which invested in excess of £1.2 million (by way of subscription for new shares and an acquisition of existing shares) and the granting of a loan facility for around £1.5 million by the new joint venture partner.

The new joint venture arrangement will secure the company’s funding and enable it to develop the infrastructure required to grow what is a cutting edge business.

We were pleased to have been able to help.

Deal/project: Cross-border joint-venture

Date closed: December 2020

Space: FinTech

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