The latest financial technology firm to complete a successful initial public offering (IPO) is MyBucks S.A., which was welcomed by Deutsche Borse on the Frankfurt Stock Exchange today where it was listed on the Entry Standard market.
MyBucks provides fintech solutions for unsecured consumer loans, banking products, and insurance solutions, through its various brands including GetBucks, GetBanked and GetSure.
With a million shares placed in the IPO that was fully subscribed to, including an over-allotment, the initial listing price for MyBucks was 13.85 euros per share, and its market capitalization stands at 142.47 million euros, as per exchange data.
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The company is based in Luxembourg and has an extensive range of businesses in Africa, after having completed several acquisitions of banks across countries in Africa. The firm has operations currently in nine countries in Africa and two within Europe.
Commenting on the IPO, MyBucks CEO Dave van Niekerk said in a statement: “The IPO is an important milestone for our Company’s growth as it will enable us to evolve our current business model in our existing operations, as well as expand into new markets. Our ultimate goal is to drive financial inclusion through digital technology.”
The news follows just days after Deutsche Borse announced the creation of DB1 Ventures as its new fund that will invest selectively in fintech companies, and our subsequent exclusive interview yesterday with the CEO of FinTech Group AG – also listed in Germany on the Frankfurt Stock Exchange.