By Jaime Llinares Taboada

Shares in TruFin PLC rose Thursday after it said that its finance software subsidiary Satago has signed a letter of intent to enter into a partnership with software company Sage Group PLC and lender Lloyds Banking Group PLC.

The London-listed technology group said they aim to embed a Satago-powered finance solution within Sage's software for small and medium-sized businesses so that they are able to access instant financing from Lloyds.

Sage and Satago plan to roll out the solution in the U.K. initially and then globally working with local banks.

TruFin shares at 0704 GMT were up 11% at 86.0 pence.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

June 09, 2022 03:23 ET (07:23 GMT)

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