Flagstone raises $138 million investment from Estancia Capital Partners

Written by Gloria Mesri

UK-based cash deposit platform Flagstone has announced a £108 million ($138 million) equity investment by Estancia Capital Partners. Under the terms of the agreement, Estancia will acquire a minority stake in the Flagstone business.

Founded in 2015, Flagstone is one of the UK’s largest cash savings platforms in terms of number of bank and savings accounts on its panel.

Flagstone gives individual savers, small and medium-sized enterprises (SMEs) and charities access to over 200 savings accounts from 60 leading cash savings providers.

This transaction is a combination of primary and secondary investments. This primary investment will be used to further strengthen Flagstone’s position in the cash deposit market. Secondary investments will be used to reward Flagstone’s early backers, allowing them to realize significant returns on their investments.

Simon Merchant, Flagstone Co-Founder and CEO “At a time when global financing capacity is decreasing, Estancia’s investment and market expertise will help us leverage and accelerate the opportunities in front of us, whether through organic growth, partnerships or acquisitions. It provides us with the impetus we need to accelerate our growth.” It strengthens our position as a market leader. ”

Takashi Moriuchi, Estancia Co-Founder and Managing Director He added: “We are delighted to be entering the UK savings market at a time when the opportunity to disrupt this status quo is huge and innovators like Flagstone must take the lead. We consistently demonstrate our ability to achieve our clients’ ambitious growth goals by delivering a superior suite of money management solutions across platforms, yield and maturity options, and industry-leading levels of service that our clients value. doing.”

Andrew Thatcher, Co-Founder and CEO, Flagstone International “As we reach this important milestone, we are delighted to be working with the investment team with the proven track record and international expertise that Estancia brings. It is clear that the market opportunity is significant to our business on a global scale. We’re excited to leverage that to take our business to the next stage.”