Oxygen Finance is poised for growth, following the successful completion of parent company, TruFin’s IPO on the AIM market of the London Stock Exchange. TruFin, the specialist fintech and lending business, raised £70 million through the listing, which will be invested across the group’s businesses.
Established in 2004, Oxygen Finance works with both public and private sector businesses to improve the operational effectiveness of their purchase to pay systems and help them to deliver against social value objectives.
The company has recently been shortlisted for a number of industry awards for the role it has played in helping councils, local authorities and other public bodies improve their payment performance and raise income to protect essential frontline services. During the past 12 months, the business has grown considerably with a rapid increase in the number of clients across the UK.
Commenting on the IPO, chief executive of Oxygen Finance, Ben Jackson, said:
“Being part of a listed company is important for our development as an operating business, putting us in prime position to capitalise on new technologies, as well as investing further in our growing team, for the benefit of our clients.
“Our innovative offering has captured the imagination of our clients and our hands-on approach, working in partnership with them, ensures we deliver tangible results quickly. These organisations are alive to the transformational impact that can be achieved by investing time in optimising payment processes. With TruFin’s backing to invest further in our operations, we look forward to expanding and enhancing our range of services to help clients optimise their payment strategies.”