Redwood, a British challenger bank catering to SMEs, is in the process of listing on the London Stock Exchange through a reverse takeover transaction with R8 Capital Investments, a financial services firm based in the UK.

According to the terms of the transaction, R8 would purchase Redwood's entire issued share capital, giving Redwood's stockholders a majority stake in R8.

Redwood received its banking license and launched in August 2017. It offers savings accounts and loans to SMEs in the UK and employs over 125 employees. In 2021, it reported a pre-tax operating profit of GBP 2.2 million (USD 3.0 million), compared to a GBP 1.7 million (USD 2.2 million) loss in 2020. Over the same period, its loan book grew 14% to GBP 370 million (USD 500.3 million), while its deposits rose 15% to GBP 438 million (USD 592.3 million).