‘Sharing economy’ bond to close in three weeks

Issued by a leading digital banking services provider APS financial, the bond is set to raise £5 million through a four year fixed-term bond that gives participants the opportunity to earn 7% gross fixed interest per year.

Responding to a 60% year-on-year growth in demand for its services, the money raised will be used predominantly to bankroll a raft of new credit products in APS’s portfolio of services to help consumers and SMEs boost their cash flows.

The explosion of the UK’s ‘sharing economy’ thanks to fleet-footed tech firms like Airbnb, Uber, TaskRabbit and Deliveroo has seen a dramatic upsurge in demand for credit from entrepreneurs and freelancers as people rush to spruce up their spare bedrooms for paying guests and purchase tools and vehicles.

Investors have until 28 October to invest between £1,000 and £250,000 in the APS financial bond (offered via APS Bonds PLC) in multiples of £1,000, and will receive a gross return of 7% with interest paid twice a year. The bonds are unlisted and non-transferable, and investors will see their initial lump sum returned at the end of the four-year period when the bonds mature.

APS launched its first account for SMEs five years ago as part of its mission to transform the UK’s banking landscape, and added the UK’s first instant approval online, business current account two years later. In just 10 years it has helped over 70,000 start-ups and small businesses disenchanted with high street banks.

Rich Wagner, CEO of APS financial, said:

Within days of opening the bond an investor came to us with a cheque for £250,000. We’ve also had former employees sign up because they know just how strong demand is for products like ours that challenge the traditional banks and payments companies.

This bond gives investors a great opportunity to participate in the UK’s growing FinTech industry and it will give us the ability to roll out more of the things that make financial services secure and accessible to the grassroots of UK plc.


For more information, interviews, photography or further commentary please contact Niki Wheeler, Alex Black or Alice Carr 020 7758 3900 or [email protected].

Notes to Editors:

Advanced Payment Solutions Ltd (APS), trading under the name “APS financial”, is a data-driven digital banking services pioneer, which is helping to transform the UK’s banking sector for SMEs and individual customers. Over the last 10 years, APS has developed a full suite of digital banking products. Through its proprietary technologies, customer service and data analytics, APS is able to offer nearly a million customers fast, simple and intelligent banking solutions to efficiently manage their finances.

APS was the first non-bank issuer to gain MasterCard membership and is a member of both the Electronic Money and Emerging Payments Associations.

APS has achieved significant growth over the last four years. Revenue and EBITDA CAGR for the period has been 29% and 69% respectively, and in the 12 months to March 31st 2016, the Company generated revenues of £25.3 million and EBITDA of £4.1 million.

To learn more about APS and how it will use the funds raised via the APS Bond to fund SME and consumer lending, SME product enhancement and digital asset and technology infrastructure investment, please visit http://www.apsfinancial.co.uk/.

To learn more about the bond offer, please visit http://www.apsfinancial.co.uk/bond.

Authorised and regulated by the Financial Conduct Authority, APS has a full permission credit licence for consumer credit activities (FRN 671140). APS is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN 900002) via its subsidiary APS Financial Ltd (“AFL”).

IMPORTANT INFORMATION: Before you buy any of the APS Bonds you should make sure that you fully understand the risks which are set out in the Invitation Document and you should determine whether the investment is appropriate for you on the basis of all the information contained in the Invitation Document. Specifically, the APS Bonds are an unsecured debt of the Company and in the event that the Company becomes insolvent, you may lose some or all of your investment. If you are in any doubt about the contents of this information, the Invitation Document or the action you should take, you are strongly recommended to consult a professional financial advisor. Purchasers of APS Bonds are not protected from loss by the Financial Services Compensation Scheme against the Company’s default or for any losses they suffer by acquiring APS Bonds.

The information contained in this document has been approved as a financial promotion for the purposes of Section 21 of the Financial Services and Markets Act 2000 for UK publication by Grant Thornton UK LLP, 30 Finsbury Square, London, EC2P 2YU (“Grant Thornton”) which is authorised and regulated by the Financial Conduct Authority to conduct investment business (FRN: 231791). The APS bonds will be issued by APS Bonds plc (the “Company”), a company incorporated in England and Wales with its registered office at 6th Floor, 1 London Wall, London EC2Y 5EB.

Terms and Conditions apply, including applicants being resident in the UK & aged 18+ and, if relevant, businesses being based in the UK.

For full website terms including information on Cashplus Bank, Mastercard and use of Trademarks, please see our full legal disclosures at https://www.cashplus.com/legal/.

Advanced Payment Solutions Limited (APS), trading as Cashplus Bank, is registered in England and Wales at Cottons Centre, Cottons Lane, London SE1 2QG (No.04947027). APS is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Firm Reference Number 671140.

APS provides credit facilities subject to approval and affordability, and where accounts continue to meet APS credit criteria.

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