Recognise Bank secures £8.7m capital raise
Digital SME banking startup and lender Recognise Bank has now raised £8.7m in new capital. This means that to date, the bank’s parent company City of London Group has raised almost £65m in investment in part of its mission to create a new business bank for UK SMEs.
The investment comes from two of the company’s existing shareholders, PV27 and property firm Max Barney Invesment Limited, both of which are exercising warrants received during the last fund raise in August 2021.
