Travelex considering London stock market IPO


The owner of Travelex is contemplating a London stock market flotation to raise $200m. Should the United Arab Emirates based Finablr pursue an initial public offering (IPO) they will use the proceeds to finance further expansion.

BR Shetty, the group’s co-founder and chairman said, “We have tremendous opportunities ahead of us and we are well placed to capture these through the significant investments we have made in building capabilities and the strong management team we have put in place.

“I am very excited about what we have built, and this is the right time to consider the future growth of Finablr and whether the business would benefit from becoming a listed company.”

In 2018 the company processed more than 150m transactions with a value of $114.5bn.

A raft of banks enlisted to help the companies include Barclays, Goldman Sachs, and JP Morgan.

Promoth Manghat, chief executive said, “Our key differentiator is operating right across the global payments value chain, supported by agile and scalable technology.

“From origination to processing to distribution, we own it, we believe that puts us in a fundamentally different place to anyone else in the market.”