R8 Group raises $5m and sets sights on IPO in July
UK fintech group R8 has raised $5 million in an oversubscribed fundraising round, led by Jonathan Rowland.
“The fintech landscape is innovating at pace”
Existing shareholders of R8 and a number of new investors with fintech firms in their portfolio, were also involved in this round.
The funding will be used to facilitate the group’s expansion and the development of its subsidiary companies.
Headquartered in London, R8 also intends to launch an initial public offering in July on the London Stock Exchange.
Jonathan Rowland, founder of R8, says: “The fintech landscape is innovating at pace, and we need to develop a robust enough financial ecosystem to bring the full scope of banking and financial services to holders of both traditional and digital assets.”
R8 was divested out of the Redwood Bank Group in 2017. The fintech focuses on developing services in support of decentralisation.
The company was launched by Jonathan Rowland, co-founder and director of UK challenger bank Redwood Bank.
The company has also confirmed the appointment of Twitter co-founder Biz Stone to the position of non-executive director. Stone, who has also invested in the group, has previously backed companies like Slack, Pinterest and Square.
