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 presents the Market Outlook and company news. She joined FNN in January 2017. She has been in broadcast journalism for over five years. She has worked as a journalist with Sky News Business, ABC 1 and ABC24. She has also worked in regional Australia for Prime 7 and WIN News. She is also a qualified financial planner and a Masters of Applied Finance student.