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Silver Falcon agrees FinTech acquisition

Lime says its technology can facilitate ‘automated delivery of insurance’ to end users.
Silver Falcon agrees FinTech acquisition
It is conditional on due diligence and a funding

Silver Falcon (LON:SILF), a cash shell, has revealed it has agreed a potential acquisition in the financial technology sector.

A memorandum of understanding has been signed for the acquisition of Lime Holdings, which owns a platform for the insurance industry.

Lime says its technology can facilitate ‘automated delivery of insurance’ to end users.

The to-be-acquired group has recently been relocated to the United Kingdom and it is said to be developing commercial partnerships in the UK and internationally.

Silver Falcon said the acquisition is conditional upon the completion of due diligence, a fundraising and the re-listing of the company on the London Stock Exchange.

The deal will be classed as a ‘reverse takeover’.

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