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Automated Accounts Payable provider Glantus Holdings raises 14M and successfully floats on AIM

Glantus Holdings (LSE:GLAN) is celebrating becoming the latest company to join the London Stock Exchange's AIM Market.

The company raised £10M in an oversubscribed placing, with a further 4M raised for existing holders at the issue price of 102 pence. The ticker name is GLAN.

Glantus is a global provider of Accounts Payable automation and analytics solutions, and CEO Maurice Healy joined London South East to explain exactly what that means.

"We got a tremendous response from the investors on the roadshow and were twice oversubscribed - to get to the end of it is fantastic" said Maurice.

"The market we operate in and our version of Accounts Payable, our customers are global organisations, so our customers in the US are a billion or more and in EMEA maybe half a billion or more, with suppliers from 4,000 to 120,000. The challenges these accounts departments have is that the scale of the operations means they have multiple systems, multiple geographies, multiple currencies and versions. Its difficult to get a holistic view of all of that data, and that leads to errors, with these Accounts Payable departments losing millions every year through credit notes not being processed etc."

"Our platform is in the cloud, is on its own IP, and it takes the data from all of these systems and these instances and makes it manageable, so we start the journey by finding what they have already lost," explained Maurice. "Then we put in the automation so it doesn't happen again, then we have got advanced analytics for them."

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