UK fintech group R8 raises $5m

▤ Summary

UK FinTech group R8 Limited has raised in excess of $5 million in an oversubscribed fundraising round. Existing shareholders of R8, led by Jonathan Rowland and a number of new investors who have backed companies in the high-growth and FinTech areas, were also involved at this stage. The funding will be used to facilitate the group’s expansion and the development of its subsidiary companies, as well as seek a listing on the London Stock Exchange. R8, which was divested out of the Redwood Bank Group in 2017, is building modern financial services needed to support the growing decentralised economy. Stone, who has also invested in the group, has previously backed successful companies including Slack, Pinterest and Square.

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