Watrium supports the listing of DF Capital on AIM as cornerstone investor.
Photo: Nicola Bushnell/www.tribal-london.com
TruFin is a leading Fintech group, focused on growing banking businesses to provide niche lending, technological and service solutions to the working capital and early payment markets. TruFin also owns a majority stake in DF Capital (DFC). DFC is a lender focused on financing supply chains in the UK. It currently provides financing for manufacturers and dealers. Over time DFC plans to extend financing to all parts of the supply chain, including consumers.
As a part of optimizing the business model for DFC, TruFin decided to demerge DFC from the group and do a separate listing of DFC on AIM. In addition, the majority owner of TruFin, Arrowgrass, has reduced its shareholding in DFC, so that Arrwograss holds less than 50% of DFC at the time of admission of DFC trading on AIM. Watrium has supported these transactions as a cornerstone investor in TruFin and in DFC
“We are glad to support TruFin and DF Capital and believe that the management of TruFin has acted swiftly and decisively with a focus on shareholder value. We have followed TruFin and DFC closely and are impressed with how quickly DFC has built a strong team and robust platform that supports profitable growth. We look forward to continue to support Chris and the rest of the management team in DF Capital”, says Anders Christian Wilhelmsen, chairman and chief investment officer of Watrium
Watrium is a private investment firm controlled by the Wilhelmsen family.
“We are glad to have the support of a long-term investor such as Watrium. We continue to see strong demand for our product offering, and with this transaction and support from investors such as Watrium, we can continue to grow and expand the business into new products and areas,” says Chris Dailey, Chief Executive Officer of DF Capital
Henry Kenner, Chairman and CEO of TruFin added: “This has been a truly momentous period for TruFin. We are immensely proud that we founded DFC, nurtured it, financed it and backed the highly experienced management team to create a robust and valuable niche lender. We have every confidence in the team as it looks to complete the bank license process and continue its exciting growth trajectory. Scalable niche lenders are highly sought after due to their rarity and attractive return profiles. The support from Watrium in building TruFin and DF Capital has been invaluable, and I would like to express my thanks to Watrium and the other shareholders”