Abchurch has won the Financial PR remit for TechFinancials, Inc., a software developer, supplying simplified trading solutions to online brokers, and operator of its own online brokerage.
The Group operates through two main business units: TechFinancials, which is a software provider that licenses its product to online brokers and OptionFair, which is an online regulated broker using TechFinancials’ technology and assists TechFinancials in trialing and evaluating products that it has under development.
TechFinancials has developed two financial products, a simplified Binary Options platform and a Simplified spot FOREX platform. The Group already has a significant position in the rapidly growing Binary Options market, where it licences the TechFinancials software to 48 brands operated by online brokers, including www.24option.com and www.optionfair.com (operated by B.O. TradeFinancials). Currently, approximately 18%. of all global deposits which are made to trade Binary Options are processed using the Group’s software.
The Company announced its Intention to Float on AIM on 16 March 2015, with dealings commenced on the same day. TechFinancials raised £3.05 million and has a market capitalisation of £18.4 million on Admission to AIM.
Julian Bosdet, Senior Partner of Abchurch commented: “Abchurch is extremely pleased to have assisted TechFinancials on its successful AIM IPO. The IPO fundraise will facilitate the Company’s further expansion into various high growth binary options and FOREX markets and we look forward to supporting the management team on an ongoing basis in achieving this objective.”
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