Bitcoin company raises £30m in funding after stock surges
The Smarter Web Company has recently made headlines by successfully raising £29.3m through a new share offer as its stock continues to soar, fueled by the growing interest of investors. This technology company, based in Guildford, managed to secure £1.5m through a subscription and a staggering £27.8m through an accelerated bookbuild with institutional investors, setting the offer price at 180p.
Since its initial public offering in April, the Smarter Web Company’s stock has nearly tripled, pushing its market capitalization close to £400m, making it the most valuable entity on Aquis. Notably, the firm has conducted five fundraising exercises post-IPO, indicating a strong demand for its shares among investors.
One of the key factors driving this success has been the company’s strategic decision to embrace cryptocurrencies, particularly Bitcoin. The Smarter Web Company has implemented a “Bitcoin Treasury Policy,” where its reserves are held in Bitcoin, following the example set by US-based company MicroStrategy. This proactive stance towards digital assets has allowed the company to amass a significant Bitcoin holding, currently valued at just under £20m.
The firm’s founder, Andrew Webley, who previously held a senior digital role at Hargreaves Lansdown, retains a 13.4% stake in the business valued at £50m. Webley expressed confidence in the company’s treasury management approach, emphasizing the potential benefits it offers to investors by incorporating digital assets like Bitcoin into their strategy.
Webley highlighted the company’s commitment to leveraging its Bitcoin Treasury Policy to explore growth opportunities through both organic expansion and strategic acquisitions. This forward-thinking approach aims to increase the company’s client base and recurring revenue streams.
The success of the Smarter Web Company’s recent fundraising efforts and stock performance underscores the growing importance of cryptocurrencies in the financial landscape. By embracing innovative treasury management practices and actively incorporating digital assets like Bitcoin into their operations, the company has positioned itself as a pioneer in the industry.
As the Smarter Web Company continues to navigate the evolving market dynamics, its unique approach to treasury management and strategic acquisitions sets it apart as a promising player in the technology sector. With a strong foundation built on digital assets like Bitcoin, the company is well-positioned to capitalize on future growth opportunities and deliver value to its shareholders.
