ChimpChange undertakes $10M placement

Company News

by Jessica Amir

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.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.