News14 Feb 2025 15:24
Fiinu (BANK), a fintech group and creator of the Plugin Overdraft®, is pleased to announce that it has raised gross proceeds of £1,250,000 through the issue of 12,500,000 new ordinary shares at 10 pence per share. The Subscription Shares were issued in response to market demand, and the funds will be utilised to develop its Plugin Overdraft® product as a white-label offering, as previously announced, and to provide additional working capital.
Comment: Although it may have been that BANK did not really need the topping up cash, given that it has got itself over the line in terms of the Plugin Overdraft, one can imagine that the “market demand” was too much to resist, as well as being prudent to take up.