skip to primary navigationskip to content

First ideaSpace company IPO

last modified Jan 06, 2017 02:50 PM
Cloud-based accounting software provider FreeAgent Central begin AIM trading

Cloud-based accounting software provider, FreeAgent Central, started trading as a public company on the London Stock Exchange’s Alternative Investment Market (AIM) on the 16th November 2016 and raised £8 million in the process.  

FreeAgent Central provides online accounting software made specifically for freelancers, small business owners and their accountants. It launched in 2007 from a frustration that managing company finances was too hard for most small business and freelancers and has since stuck to its mantra of demystifying accounting and redefining the relationship people have with their finances. Tom joined as an early employee, and now FreeAgent Central employs over 110 staff, with plans for further expansion in the next few months.

This is the first IPO for an ideaSpace company. Tom, who runs the Engineering Operations team, said the process has been a long one and there was a great deal of due diligence work involved. That said, floating on AIM provides many valuable benefits to listed companies including raising cash and the company profile, as well as incentivising staff with share options. 

Dealings in FreeAgent Central’s shares commenced under the ticker ‘FREE’ and the company has said FreeAgent had a market capitalisation of approximately £34 million. Find out more about FreeAgent Central here.

 

Background to AIM

The Alternative Investment Market (AIM) was set up in 1995 to encourage investment in start-ups and smaller companies. There is much less red tape involved in getting listed on AIM, so it is considerably quicker and less costly to get on than the main London market. It has now become the most popular way to float, with almost 400 companies joining up in 2005 alone. This comes as little surprise as AIM has collectively raised £17 billion for its members in its first decade. It offers the capital-raising benefits of a public flotation combined with a flexible regulatory approach (source: www.mybusiness.co.uk)

 

RSS Feed Latest news

Elpis Biomed, GeoSpock and Owlstone Win Cambridge Independent Science and Technology Awards

Nov 04, 2018

Elpis Biomed, based at IdeaSpace South, has scooped 'Start-Up of the Year' award at the Cambridge Independent Science and Technology Awards 2018. ideaSpace alumni Owlstone Medical also took home 'Medtech Company of the Year' and GeoSpock won the 'Technology Company of the Year' award. Congratulations to all!

LESSONS FROM A FOUNDER: Tips for Successful Product Design

Oct 26, 2018

Coming up with an idea for a product is the easy bit - it's the designing of it that can be a complicated and costly process. At a recent ideaSpace event we heard from four founders who offered their insights on how you can build a successful product that your customers are going to love. Read on for tips from our experts.

Camallergy Appoints Baxter Phillips III as CEO

Oct 25, 2018

Camallergy, based at ideaSpace South, a biopharmaceutical company dedicated to providing patient-centric treatments for life-threatening food allergies, has announced the appointment of Baxter Phillips III as Chief Executive Officer. Camallergy co-founder Sherden Timmins continues his executive appointment in the newly created role of Chief Operating Officer.

Mixcloud Strike a Multi-Year Agreement With Universal Music Group 

Oct 19, 2018

ideaSpace West member Mixcloud has signed a deal with the world's largest record label.

Riverlane and dividiti Ring the Bell to Celebrate Hackathon

Oct 18, 2018

ideaSpace West members Riverlane and dividiti celebrate after a successful quantum computing hackathon.

View all news