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Mash announces EUR 50M equity round and launch of Europe's first STO

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19.10.2018 13:30

Rocket

Mash Group, a ten year old digital lender and pay later solution provider, announced a EUR 50M equity round and the launch of a Security Token Offering (STO).

Helsinki, 17th October: Mash Group Plc, a Finnish FinTech company specializing in consumer lending and pay later solutions, today announced that pre-registration has begun for a Securitized Token Offering (STO). Mash is partnering with DLA Piper, Trust and Tokeny to offer professional investors the means to participate in the current equity round using both crypto and fiat currency. Deloitte has been selected to provide AML and KYC services. The whitelisting process will begin in October with the round closing in December 2018. The STO is part of Mash’s broader EUR 50 million equity round.

Security tokens are not the same as utility tokens, as have been issued in a number of recent initial coin offerings (ICOs). The Mash security tokens are backed by assets and token holders would have voting rights and dividend rights of the company issuing the token.

“Security Tokens by definition are securities”, says Mash CEO James Hickson. “As such, they are subject to securities regulation and oversight. We are working closely with our partners to ensure we are fully compliant with security laws and regulations on a platform that can manage the process of issuance and management through the lifecycle of the asset. The STO is only open to professional investors, with each token having the same voting and dividend rights as one ordinary share of Mash.”

Founded in 2007, Mash offers consumer credit, as well as “pay-later” solutions for retailers in store and online. The group is present in Finland, Sweden, Poland, Luxembourg and Spain.

"We continue to look for ways to innovate. When we considered how to approach our equity round, exploring the intersection of blockchain technology and the potential to tap into a new investor pool was interesting. ” says Hickson.

Martin Bartlam, partner and head of the Global FinTech Group at DLA Piper, said, "expanding a traditional securities offering to include security tokens is a novel approach to the fund raising process by opening up the offer to a different kind of sophisticated investor that is interested in developing a portfolio of digital assets."

About Mash

Mash has been at the forefront of fintech innovation since 2007. We leverage our advanced proprietary algorithms, machine learning capabilities, and automated platform to deliver superior finance and payments solutions to thousands of customers every day. We work hard for a future powered by technology, making every transaction seamless, flexible and worry-free. Today, Mash is one of Europe’s leading fintech companies.

Mash.com | investor@mash.com | @MashComOfficial

For more information please contact:
Henrietta Mackenzie
PR Contact
t: +44 (0)20 3047 2668
m: +447772563222
Henrietta.Mackenzie@edelman.com

Important notice

The information in this press release has been prepared by Mash Group plc ("Mash"). The distribution of this press release in certain jurisdictions may be restricted by law and persons into whose possession this press release comes should inform themselves about, and observe, such restrictions.

This press release is for informational purposes only and the information, statements and opinions set out in this press release do not constitute a public offer for the purposes of any applicable law or regulation, an offer to sell or solicitation of any offer to buy any securities or other financial instruments, or any advice or recommendation in respect of such securities or other financial instruments.

The information contained in this press release does not purport to be comprehensive, nor to be the provision of any form of advice (financial or otherwise). This press release has been prepared without reference to your particular investment objectives, financial situation, taxation position and particular needs. It is important that you view this press release in its entirety. If you are in any doubt in relation to these matters, you should consult your stockbroker, bank manager, solicitor, accountant, taxation advisor or other independent financial advisor (where applicable, as authorised under the relevant applicable law or regulation). This information has been provided by Mash and has not been independently verified. No responsibility, liability or obligation (whether in tort, contract or otherwise) is accepted by the Mash or any of their affiliates or any of its or their officers, employees, agents or advisers (each an “Identified Person”) as to or in relation to this press release (including the accuracy, completeness or sufficiency thereof) or any other written or oral information made available or any errors contained therein or omissions therefrom, and any such liability is expressly disclaimed.

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