The Bank of London, which made an attempt to save Silicon Valley Bank UK last year, is reportedly moving on with plans for capital raising, which may raise “up to £50m,” according to a source close to the business, according to News.
This past weekend, the exact number was unknown.
According to the source, a number of investors, including an organization known as Aphorism Holding, are expected to provide the fresh financing.
Despite being considered as the main source of funding, rich investor Nada Hadadi has only made a six-figure contribution.
A few days ago, the company declared that its founder and CEO, Anthony Watson, would be leaving to take a position as a senior adviser and non-executive director of its parent company. Now, word has leaked out about the company’s plan to raise funds.
Due to unpaid taxes, HM Revenue & Customs filed a winding-up suit against the holding company of The Bank of London.
