Veremark Unlocks £6.5M Liquidity via London Stock Exchange PISCES Market

Background check specialist Veremark has completed a £6.5 million secondary share sale on the London Stock Exchange’s Private Securities Market, valuing the firm at approximately $100 million. This transaction provides a rare liquidity event for early investors and employees, signaling a maturing ecosystem for private UK fintechs seeking to reward stakeholders without a traditional IPO.

What was announced

The £6.5 million transaction marks the third-ever employee share sale conducted on the London Stock Exchange’s (LSE) Private Securities Market (PSM). Gresham House acted as the lead investor, building on its participation in Veremark’s $26 million (£19.75 million) Series B round closed in February. Other participants in that earlier round included Samaipata, ACF Investors, and Stage 2 Capital.

Veremark, which launched in 2020, provides pre-employment screening, background checks, and whistleblowing software. The company reports significant momentum, citing 241% year-on-year growth for the first half of the year. Its global footprint now spans seven offices in the UK, USA, UAE, Singapore, New Zealand, and the Philippines, supported by a workforce of more than 300 people. The firm’s client base has expanded to over 8,000 organisations, including major names like Schneider Electric and OVO Energy.

The sale process utilized Crowdcube’s private market infrastructure to manage employee participation and buy-side orders. Crowdcube served as a Registered Auction Agent (RAA) for the PSM, a role it previously held for share sales by Wayve and Moneybox. Singer Capital Markets also acted as an RAA on the buy side, while Cavendish executed the purchase for Gresham House. Notably, the deal allowed qualified retail investors on the Crowdcube platform to access Veremark equity.

"We have seen incredible growth at Veremark over the last few years, and this sale marks a key moment for our early employees and investors to reap the rewards of their work. Our ambitions to scale remain strong and with AI employee fraud growing, we are hyper-focused on helping companies fight this risk and increase security around who they are bringing into their business. This transaction will continue to help motivate our own team and through the relationship with LSEG, add the credibility and access needed for the next phase of growth."

Daniel Callaghan, CEO and co-founder of Veremark.

The companies involved

Veremark has rapidly established itself as a global workplace trust company since its inception four years ago. Headquartered in London, the firm competes in the high-stakes background screening and compliance sector, leveraging technology to streamline vetting processes. Lead investor Gresham House is a specialist alternative asset manager that focuses on sustainable investments across private equity, infrastructure, and real estate. The firm’s involvement in this secondary sale underscores its continued conviction in Veremark’s business model following its lead role in the company's Series B funding.

The transaction also highlights the evolving role of the London Stock Exchange. Beyond its traditional role as a public listing venue, the LSE has introduced the Private Securities Market to provide liquidity solutions for private companies. This initiative is supported by partners like ACF Investors, a venture capital firm that works alongside angel investors to back high-growth UK businesses, and Stage 2 Capital, a venture firm focused on go-to-market scaling. Together with Samaipata, these backers have supported Veremark’s transition from a startup to a global entity with a $100 million valuation.

What FF News has reported before

FF News has closely followed the development of the London Stock Exchange’s new liquidity avenues. In September 2026, we reported that Veremark Becomes Youngest Firm to Join LSE’s Private Securities Market for £6M Share Sale, a move that set the stage for this successful completion. The LSE’s broader efforts to modernise were also highlighted when Clear Street Expands European Reach as General Clearing Member of London Stock Exchange, demonstrating the exchange's growing infrastructure for institutional players. Additionally, the exchange continues to attract novel listing structures, as seen when SWC to Launch UK’s First Preferred Equity IPO on LSE with Weekly Bitcoin Dividends. These developments collectively point to a more flexible London capital market.

What this means

This transaction is a significant proof of concept for the London Stock Exchange’s Private Securities Market. For too long, UK fintech employees have held "paper wealth" with no clear path to liquidity outside of a full exit or IPO. By facilitating secondary sales, the LSE is directly challenging the dominance of US private secondary markets and providing a reason for high-growth firms to remain headquartered in the UK. However, the success of such markets depends on consistent buy-side demand. The industry must now see if a broader range of institutional investors will provide the depth needed to make these auctions a standard feature of the fintech lifecycle.