A listed FinTech business which parted company with its CEO last week has made its latest acquisition.
Nick Cowan (pictured) left Valereum Plc with immediate effect amid a flurry of board changes at the firm – which is focused on tokenised digital markets – after an investment deal fell through.
In February Valereum – headquartered in Gibraltar and listed in London – signed binding heads of terms for a £19m investment from DMC Markets, alongside an additional £1m from a UK institutional investor, to accelerate its digital asset and blockchain expansion.
At the time, Cowan posted on X: “Huge thanks to my team & DMC, we’ve worked tirelessly to ensure this deal accelerates our growth and benefits our shareholders. This is just the beginning! Our global vision for 2025 is only getting stronger. ⚡️
“Watch this space.”
The deal, for a 48.86% stake in the company, was expected to fund four strategic acquisitions and support Valereum’s expansion across Australasia, Europe, North America and South America.
However following extensive due diligence and negotiations – and despite repeated assurances – Valereum says it ultimately became clear that DMC was not in a position to complete the transaction.
Following the changes at the top, Valereum has announced a €1.7m strategic investment – expected to be paid in cash, bitcoin or stablecoin – for a minority stake in Fideum Group Limited.
Fideum, based in Lithuania, provides turnkey, regulatory-compliant blockchain infrastructure to financial institutions, banks and SMEs. Fideum’s licences and authorisations allow it to offer its services to 50+ active clients across Europe, Canada, Australia and South America.
It offers modular SaaS and B2B payment solutions that enable secure custody, trading, stablecoin settlements and full compliance automation.
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The investment will be made in multiple tranches, with the first expected to be completed in June 2025 and the last by June 2026.
“This investment marks a clear vote of confidence in the infrastructure we’ve built at Fideum,” said Anastasija Plotnikova, CEO of Fideum Group.
“As institutions seek secure, compliant pathways into digital assets, our alignment with Valereum creates a powerful opportunity to scale that vision globally. Together, we’re laying the rails for the next chapter of regulated digital finance.”
James Formolli, chairman of Valereum, commented: “Our strategic investment in Fideum is yet another show of Valereum’s commitment to overhauling the status quo. Fideum is an award-winning fintech with an enviable team.
“By securing a strategic stake, we’re proud to support its growth and leverage its expertise to expand our global footprint. All of our recently announced partnerships now put Valereum at the forefront of the digital revolution and we are now ready to go to the next level with our pooled strengths and resources.”