- Flexigroup (FXL) has raised another $36 million from shareholders, this time via the retail component of its recent entitlement offer
- The company also raised $79 million through the institutional component of the same entitlement offer
- That means the company raised $115 million in total, with the funds to help bolster Flexigroup’s balance sheet
- The capital will also help the company fund the recent launch of its buy now, pay later service Humm in New Zealand
- Shares in Flexigroup are currently trading down 1.36 per cent at $1.09 each
Fintech company Flexigroup (FXL) has raised an additional $36 million from shareholders, this time via the retail component of its recent entitlement offer.
Flexigroup first signalled it was going to tap investors for fresh capital on August 26, with an initial goal of raising $140 million via an entitlement offer
Since then the company has announced it netted $79 million from the institutional component of the offer.
It’s now raised an additional $36 million through the retail component of the offer, meaning the company has raised $115 million in total.
Following the completion of the retail offer, 2.6 million shares will be issued to investors next week.
Flexigroup said it plans to use the capital to strengthen its balance sheet in the long-term and to fund the expansion of its buy now, pay later brand Humm.
The service launched in New Zealand earlier this week and is the only product on the market which covers transactions up to NZ$10,000 (around A$9,189).
Shares in Flexigroup are currently trading down 1.36 per cent at $1.09 each.