Wealthtech scaleup Moneybox has been valued at $1.1bn as it prepares a £45m secondary share sale for long-serving employees.
The secondary will be facilitated through the London Stock Exchange Group’s (LSEG) Private Securities Market, a new trading platform for private companies to auction their shares developed under the UK government’s Private Intermittent Securities and Capital Exchange System, or Pisces, framework.
Moneybox employees will sell their shares through private markets investment platform Crowdcube from Tuesday, ahead of the auction on LSEG’s platform later this month.
“Pisces represents an important innovation for UK capital markets and we are proud to be among the first companies helping demonstrate how it can support the next generation of ambitious private business,” says cofounder Ben Stanway.
Last year, LSEG reportedly courted several UK fintechs, including financial superapp Revolut and digital bank OakNorth, to auction their shares on the market as part of a bid to keep British companies in the country following underperforming IPOs and homegrown startups choosing to list abroad.
Autonomous vehicle scaleup Wayve auctioned its shares on PSM last week following a $85m tender offer for employee stock.
The market launched in February and the first transaction took place the following month with VC Oxford Sciences Enterprises trading on the platform.
