JS Group brings in new funding with minority share sale to NatWest
Southampton-based payment technology provider JS Group has sold a strategic minority shareholding to NatWest Group. FRP Advisory experts advised the sell-side.
JS Group is a specialist provider to universities enabling them to efficiently disburse funds such as bursaries, scholarships and other financial support to students through its ‘Aspire’ platform. This new strategic investment from NatWest Group will drive the further adoption of this platform across higher education and accelerate adoption in other sectors, such as charities and local authorities.
Barrie Davison, national sector head at NatWest commented, “This investment underscores NatWest’s commitment to supporting innovative solutions that enhance financial accessibility and efficient management for funders through the adoption of technology. Building on the well-established partnership between Payit by NatWest and JS Group, this investment enables us to work towards a shared goal of accelerating the adoption of open banking technology.”
The investment aligns with NatWest’s goal of fostering innovation and providing financial solutions while supporting the higher education sector. At the same time, Aspire will now be able to give funders greater optionality over the delivery of financial support and gives beneficiaries agency over how they receive funds.
Peter Gray, chairman and CEO at JS Group, added, “This investment will enable us to further develop our platform and expand our reach, ensuring that more universities, more sectors and more beneficiaries can take advantage of our efficient and secure payment services. We look forward to working closely with NatWest as we continue innovating. Their expertise will be invaluable as we seek to scale our platform and accelerate our venture into new sectors.”
A team from FRP Corporate Finance – part of FRP Advisory – advised JS Group on this transaction. The team identified potential investors to support the next phase of JS Group’s growth, before then helping to structure and negotiate the deal with NatWest Group.
Simon Davies, partner at FRP Corporate Finance concluded, “We are delighted to have supported Peter Gray and JS Group in securing this investment, which marks a significant milestone in the Group’s growth journey. This transaction will enable the Group to accelerate its expansion into new markets and capitalise on exciting opportunities ahead. NatWest’s desire to invest in JS Group is a testament to JS Group’s vision and leadership in the adoption of open banking.”
