Strong market debut for fintech Nucleus
Nucleus Financial Group, the Edinburgh-basedfintechbusiness, has hailed an “important milestone” after its shares began trading on London’s Alternative Investment Market.
Shareholders, including a number of financial advisers, employees and directors, are selling £32.1 million worth of shares in the business, which is seen as one of the biggest successes of Scotland’s fastdeveloping fintech sector.
Shares made their debut at 183p and closed up strongly last night at 239.5p.
Founder and chief executive David Ferguson said: “This is an important milestone as we continue our work to support and promote the strategic alignment of advisers and their customers.
“It’s great to see so many institutional investors believing in the growth potential of this objective and we look forward to collaborating with our users to further promote transparency and improve customer outcomes.”
The company, which Ferguson set up with the backing of a number of financial advice firms in 2006, has developed software platforms which enable financial advisers to provide online access to clients for investments across ISAS, pensions and bond accounts.
Stephen Trombala, corporate finance partner at law firm Shepherd & Wedderburn and lead legal adviser to Nucleus on its listing, said: “Nucleus is a Scottish fintech success story that has seen exceptional growth in recent years. Its listing on Aim… will provide a firm foundation for its continued growth.”