As well as the digital banking app, the fintech business operates Bitcoin Jar and payment processing services for UK and European businesses to tap into the Chinese market.
The offer of new shares is expected to raise £7.5 million, which Mode will use to cover technology costs and build awareness of its operations. It is also planning to launch a new payments solution powered by open banking that eliminates the need for cards.
The company is targeting a free float of at least 25% of the issued share capital, with major shareholders including Rowland subject to lock-up arrangements.
Dealings in the shares are expected to commence early next month.
