Marley Spoon secures funding from Woolworths

Company News

by Rachael Jones

Meal kit provider Marley Spoon (ASX:MMM) has approved structured debt transactions with two of its existing investors, amounting to $8 million in aggregate.

Supermarket giant Woolworths (ASX:WOW) will loan Marley Spoon $4 million.

US based venture capital firm Union Square Ventures will also loan $4 million.

The company entered into a $30 million strategic partnership with Woolworths in June.

Shares in Marley Spoon (ASX:MMM) closed -1.1 per cent lower at $0.45 yesterday.
 

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.