Online Fintech services provider MyBucks completes €15.5 million IPO on Frankfurt Stock Exchange


Luxembourg-based Fintech services company MyBucks S.A., which operates the GetBucks, GetSure and GetBanked brands and provides financial products and services to the low and middle-income consumer segment, predominantly in emerging markets of SubSaharan Africa, has successfully raised €15.5 million in an IPO on the Deutsche Bourse’s Frankfurt Stock Exchange.

Hauck & Aufhäuser Privatbankiers KGaA acted as Sole Global Coordinator and Sole Bookrunner on the transaction. Bankhaus Scheich Wertpapierspezialist AG is taking the role of the company’s stock specialist at Börse Frankfurt.

The shares start trading today, June 23.

Dave van Niekerk, MyBucks
Dave van Niekerk, MyBucks

Commenting on the listing, Dave van Niekerk, CEO of MyBucks said:

The IPO is important for the 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.

With more than 300 employees and 400 sales agents and operations in 11 countries, the MyBucks Group has already disbursed over €140 million in consumer loans, resulting in top-line revenue of over €30 million in business year 2014/15 (July 2014 through June 2015).

MyBucks’ proprietary credit scoring technology allows the company to distribute its product portfolio through online channels (web and mobile), as well as internet service points thereby enabling cost efficient financial products and services in high-growth emerging markets with the ultimate goal of creating financial inclusion.

MyBuck’s recent acquisition (subject to customary closing conditions, including regulatory approval by each central bank in the countries concerned) of three banks, one saving and loans company and two non-bank financial institutions from Opportunity International, Chicago, will fast track MyBucks’ expansion strategy by adding Ghana, Mozambique and Tanzania, increasing its customer base from 150,000 to more than 1.5 million and growing its assets from €71 million to €145 million. Most importantly, this acquisition will give MyBucks access to funding in local currencies, significantly reducing FX risks.

 

MyBucks is a Fintech company based in Luxembourg that delivers seamless financial services through technology. Through its brands GetBucks, GetBanked and GetSure the company offers unsecured consumer loans, banking solutions as well as insurance products to customers. MyBucks has experienced exponential growth since its inception in 2011 and today has operations in nine African and two European countries. MyBucks aims to ensure that its product offering is accessible, simple and trustworthy, in comparison to traditional, non-technological methods, ultimately working towards enhancing the benefits to the customer. The MyBucks’ product offering enables customers to manage their financial affairs easily and conveniently.

Related News

arrow

Online Fintech services provider MyBucks completes €15.5 million IPO on Frankfurt Stock Exchange

129

Send this to a friend

Subscribe to LeapRate
PGlmcmFtZSBzcmM9Ii93cC1jb250ZW50L2E0bHIvaGFuMTZyZXNfNjI1eDQwMC5odG1sIiB3aWR0aD0iNjI1IiBoZWlnaHQ9IjQwMCIgZnJhbWVib3JkZXI9IjAiIHN0eWxlPSJib3JkZXI6bm9uZTsiIHNlYW1sZXNzPjwvaWZyYW1lPg==
PGlmcmFtZSB3aWR0aD0iNjQwIiBoZWlnaHQ9IjM5NSIgc3JjPSJodHRwczovL3d3dy55b3V0dWJlLmNvbS9lbWJlZC80Mzc5MThJbFc5ST9yZWw9MCZjb250cm9scz0wJnNob3dpbmZvPTAiIGZyYW1lYm9yZGVyPSIwIiBhbGxvdz0iYXV0b3BsYXk7IGVuY3J5cHRlZC1tZWRpYSIgYWxsb3dmdWxsc2NyZWVuPjwvaWZyYW1lPg==
Fill out the form below for more information
for lising in LeapRate's Forex Yellow Pages

Please enter the company name, email address to reach you and phone # (optional):

Please fill out the message field to the right for any questions or special inquiry:
PGlmcmFtZSBzcmM9Imh0dHBzOi8vd3d3LmxlYXByYXRlLmNvbS9hNGxyMTcvNjAweDQyNS82MDB4NDI1TFIuaHRtbCIgZnJhbWVib3JkZXI9IjAiIHdpZHRoPSI2MDAiIGhlaWdodD00MjUiPjwvaWZyYW1lPg==
PGlmcmFtZSBzcmM9Imh0dHBzOi8vd3d3LmxlYXByYXRlLmNvbS8vYTRscjE3L3VmeDE4LzYwMHg0MjVfMXN0LVRpbWVMZWFwUmF0ZS1lbi1HQl9IVE1MNS5odG1sIiBmcmFtZWJvcmRlcj0iMCIgd2lkdGg9IjYwMCIgaGVpZ2h0PTQyNSI+PC9pZnJhbWU+
PGlmcmFtZSBzcmM9Ii8vY2RuLmJhbm5lcnNuYWNrLmNvbS9iYW5uZXJzL2JjaWVod29iOC9lbWJlZC9pbmRleC5odG1sP3VzZXJJZD0zMTU5MzQwNiZ0PTE1MTAxMzg3MTAiIHdpZHRoPSIxMDAlIiBoZWlnaHQ9IjEwMCUiIHNjcm9sbGluZz0ibm8iIGZyYW1lYm9yZGVyPSIwIiBhbGxvd3RyYW5zcGFyZW5jeT0idHJ1ZSIgYWxsb3dmdWxsc2NyZWVuPSJ0cnVlIj48L2lmcmFtZT4=