Rubicon heads to market

Rubicon Software, which develops customer relationship management applications for the financial services sector, is eyeing an AIM launch for 6 September – having raised £770,000 (£430,000 net of expenses) from investors with the aid of broker and adviser WH Ireland.

Based in Surrey, Rubicon has been running for 17 years under the stewardship of founder and chief executive Alistair Hancock, who will see his own shareholding in the business reduce from 38.1 per cent to 30.3 per cent as a result of the AIM listing.

The group’s flagship product, Accelerator, is designed to afford firms in the financial services sector the ability to enhance their levels of compliance, customer service and sales targeting for a range of products including loans, mortgages and insurance.

With Hancock and his team now planning a greater rollout of the software, the flotation and fundraising has been organised to help invest in its sales and marketing capabilities. The cash raised will also be used to help Rubicon migrate from a licensing model based on upfront fees to one based on annual payments.

A market valuation of around £3.8 million should be expected when trading begins.

Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...