ChimpChange Limited (ASX:CCA) has announced a successful $10 million placement to various institutional and sophisticated investors.
The placement, which was managed by CCZ Corporate Finance and Morgans Corporate, includes about 14 million shares, at the issue price of 72 cents per share.
The digital banking platform says, proceeds from the placement combined with existing cash reserves, will fund the growth of its customer acquisition and product development.
The announcement comes after the company’s recent win of three American based Pay Awards, for their Round Up product, including ‘Startup of the Year’.
Shares in ChimpChange Limited (ASX:CCA) are trading 9.09% lower to 80 cents.