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.