Investment

Direct investment specialist family offices take stake in fintech group

UK-based Souter Investments and Perscitus have invested in UK-based fintech group, DivideBuy, in a deal that firmly establishes the two family offices as among the most active in Europe.

The two family offices have invested in DivideBuy, a UK-fintech group, which provides interest-free-only credit.

Souter is the family investment group of Scottish entrepreneur Brian Souter, co-founder and chairman of the UK bus company, Stagecoach Group. Perscitus is the private investment office of John Moulton, one of the UK’s most prolific venture and private equity investors.

Souter and Perscitus invested alongside a loan provided by two UK financial groups, Shawbrook Bank and Paragon Bank. It is believed the equity and debt deal for DivideBuy is worth around £60 million.

Souter Investments and Perscitus have done more than 40 direct private equity and venture deals between then, although this appears to be the first one they have done co-invested. Perscuitus has been particularly active in the financial, investment and fintech sectors, having invested already in Atom, a smartphone bank, the Funding Circle, a lending platform for businesses, and Moneybox, a consumer investment platform.

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