DomaCom poised for expansion with capital raise

Company News

by Rachael Jones

Fractional property ownership company DomaCom (ASX:DCL) has completed a capital raise, to expand its property platform.

The company carried out the cap raise with Ord Minnett, receiving binding from professional and sophisticated investors to raise $1.5 million.

The company’s CEO Arthur Naoumidis says with about $35 million in capital, and all the necessary product development having been completed, the business is now “poised to commercialise the business.”

It also comes at a time when the company is nearing the completion of its six-month pilot with a Big 4 bank to use its fractional investment model.

The trial is booked to finish in July 2019.

Shares in DomaCom (ASX:DCL) are trading 8.7 per cent lower at $0.10.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.