London-based Moore UK member firm, Moore Kingston Smith, has supported RC365 Holding Plc on its fundraise of £2 million and admission to the London Stock Exchange on 23 March 2022.
RC365 is a leading fintech solutions service provider in Asia Pacific, with headquarters in Hong Kong. Founded in 2013, the group focuses on payment gateway solutions, and IT support and security services. A key focus for the group is developing innovative products and services and the IPO will allow RC365 to boost their marketing, fund licence applications and establish a development centre. The company’s market capitalisation was approximately £6.7 million after the successful fundraise, and was £16.13 million as of 14 July 2022.
Matt Meadows and Adele Hebditch from Moore Kingston Smith’s corporate finance team acted as reporting accountants as part of the IPO and admission. This involved producing an in-depth report on working capital requirements and supporting RC365 throughout the IPO process.
Vincent Cheung Hon Keung, Executive Director and CFO of RC365, said: “We enjoyed working with Moore Kingston Smith. As our reporting accountant, they provided advice and support at a strategic level and were always quick to respond. We've always found the MKS team friendly and approachable, and we trust them to do the best for our business.
Matt Meadows, Corporate Finance Partner at Moore Kingston Smith, commented: “It was a pleasure working with Vincent, Michael and the rest of the team at RC365 on their IPO and successful fundraise. They will now be able to start expanding their payment gateway services in the UK and throughout Europe in addition to developing new and innovative fintech solutions. We are excited to follow their journey and wish them every success in the future.”