Finance and technology group Trufin raised £70m and floated on the London Stock Exchange’s AIM growth market on 21 February at a price of 190 pence per share. Currently trading at around 214p, the company is valued at almost £210m.

Trufin has grown largely through acquisition and operates through three main business units:

DFC provides supply chain finance and launched in March 2017. Its speciality sectors are two-wheeled motor vehicles, recreational vehicles and caravans, smaller marine craft and industrial equipment. DFC is also applying for a banking licence.

Satago, founded in 2012, launched its invoice finance platform in 2015. It’s built to integrate with client accounting software systems.

Oxygen Finance has a dynamic discounting platform enabling organisations to make early payments to suppliers. Oxygen is focused predominantly on the UK public sector, where the company says customer relationships “are long-term and therefore future revenues are visible and secure”. The business was founded more than 10 years ago but was acquired by TruFin out of administration two years ago when Oxygen needed more funding for development.

“Many borrowers are neglected by banks and still face expensive funding and capital,” said chairman and CEO Henry Kenner. “We intend to deliver value by taking advantage of current market disruptions and new financial technologies, while keeping a focus on the distribution of niche lending products.”