UK Fintech Firm to Float on the London Stock Exchange

While already boasting millions of users who are managing their cryptocurrencies via their app, the brand has identified a need to further develop the app. The band's ambition it to create a banking, payment, investment, loyalty and digital asset, all in one. 

There are also talks of leveraging current relationships with Alipay and Tencent which will help Mode with its plan to conquer the Chinese consumer market.  

The prospectus states:  

"The net proceeds from the issue of the Shares will be used to cover technology costs to develop the intellectual property of the platforms and marketing costs to build awareness amongst businesses and consumers, placing fees (including brokerage and placement agent fees), corporate and legal fees, licence costs to cover our European roll-out, regulatory capital for the E-Money Institution (EMI) licence and other working capital."

Jonathan Rowland, co-founder of Mode and director of UK challenger Redwood Bank. Said:  

 "Mode is set to become one the first financial services companies on the LSE Main Market with a consumer focused-digital offering. This is a major milestone for Mode, and a vital step in bringing credibility and transparency to both the fintech and digital asset industries."