Nucleus set for £150 million Aim flotation

'Important milestone': Nucleus founder and CEO David Ferguson. Picture: Lisa Ferguson.
'Important milestone': Nucleus founder and CEO David Ferguson. Picture: Lisa Ferguson.
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Edinburgh-based wrap platform provider Nucleus Financial has unveiled plans to float on the Alternative Investment Market (Aim) in a move that could reportedly raise £25 million and value it at up to £150m.

The business said dealings are expected to start towards the end of this month.

Chief executive David Ferguson, who founded the firm in 2006 and chairs FinTech Scotland, noted that the firm’s strategy has seen its assets under administration grow to more than £14.3 billion.

He said: “Nucleus has been an exciting journey so far and we expect this admission to Aim to mark an important milestone in the business’s maturity and to open up new opportunities for us.

“We remain committed to keeping adviser/client alignment and transparency at the heart of what we do and to continue developing a market-leading platform and best-in-class customer service to deliver on our objectives.”

Angus Samuels, chairman of the fintech firm, added: “This is an exciting moment for the business… We are looking forward to life as a listed company and the opportunities that lie ahead of us.”

Nucleus, which achieved pre-tax profit of £5.1 million in 2017, has also grown to more than 200 staff and seen customers exceed 90,000.