FinTech Mode bags £2m

Mode, a FinTech firm, has completed recent fundraising by way of the issue of convertible loan notes to existing and new investors for proceeds of £1.9m.

Following its 2021 annual results on 28 June this year, certain directors of Mode also agreed to subscribe for loan notes for an aggregate sum of £65,000, which, taken alongside one delayed subscription, will result in total gross proceeds of the fundraising being £2m.

Mode CEO Rita Liu said, “Our recent fundraising displays the ongoing strength in our core businesses and shows that appetite from both new and existing investors has not waned despite the recent bout of market volatility.

“This fundraising round provides us with a greater opportunity to expand our unique position as an FCA-registered and LSE-listed fintech leader.”

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