Fintech Greengage & Co Group Plc has set out plans to list on the Access segment of the Aquis Growth Market... and it is doing so with an unusually ambitious twist.
Alongside the flotation, the company intends to raise fresh capital to buy Bitcoin and use it to build a revenue-generating reserve that would sit at the heart of its business model.
The London-based group pitches itself as a relationship-driven platform for institutions, family offices and professional clients who need help navigating both fiat banking and the rapidly evolving crypto economy.
Its bread-and-butter work involves introducing clients to payment-services providers, e-money accounts and sources of credit for small and mid-sized firms. It says more than 40 clients are active and the pipeline extends to over 60 prospective accounts.
Greengage’s planned “Bitcoin Yield Reserve Strategy” is likely to catch most of the attention.
The idea is relatively straightforward: use the funds raised at IPO to buy Bitcoin, then borrow against those holdings on a non-recourse basis, meaning the lender’s only security is the Bitcoin itself.
Those borrowed funds would be deployed into diversified private-credit portfolios in the hope of generating a steady yield.
If Bitcoin rises, Greengage keeps the upside; if it falls sharply, the collateral might be sold, but the firm would not owe more than its pledged assets.
The company argues the strategy blends potential capital gains with income generation, while supporting liquidity for its core business.
Management, led by ex-Swiss private banker Sean Kiernan, says the longer-term ambition is to recycle returns into working capital and additional Bitcoin purchases, deepening the reserve over time.
The approach is positioned as a foundation for a future offering (subject to regulation), in which Greengage could help other companies manage crypto-treasury assets.
Strategic partnerships already include Equals Money, supporting Greengage’s “digital-asset friendly” account services.
Beyond 2026, the group aims to evolve into a fully regulated credit broker and eventually offer Bitcoin-treasury products to corporates and family offices, a market it says is expanding rapidly as digital-asset wealth becomes more institutional.
The IPO will be supported by a placing for institutional investors and a separate retail offer through the BookBuild platform.
Joining Kiernan on the board are City veteran Prem Goyal as chair and fintech specialist Jenny Knott as a non-executive director.
Kiernan said Greengage wants to “fill the gap left by traditional lenders that cannot service businesses with cryptocurrency exposure,” adding that the firm sees “significant scalability” in pairing Bitcoin holdings with diversified credit strategies.