- Wellfully (WFL) secures capital commitments of up to $55 million over a three year period from Luxembourg-based GEM Global Yield
- The company says the funds are expected to give it the financial flexibility to execute its strategic development plans
- Specifically, the funding facility will help support some key expansion, supply-chain optimization, and development goals for Wellfully’s RÉDUIT and SWISSWELL brands
- Wellfully says GEM’s decision to provide the funding is an “important milestone in the future growth of the company”
- Shares in Wellfully are up 3.8 per cent to 8.2 cents each at 10:34 am AEST
Beauty and wellness company Wellfully (WFL) has secured capital commitments of up to $55 million over a three year period from Luxembourg-based GEM Global Yield.
The company said the funding was expected to help provide the financial flexibility to execute its strategic development plans.
These plans include the commercial expansion of Wellfully’s RÉDUIT brand alongside process and supply-chain optimisation for its SWISSWELL brand.
Wellfully said GEM’s decision to provide the funding was an “important milestone in the future growth of the company”.
Wellfully CEO and Chairman Paul Peros said he was “extremely proud” to announce this deal.
“This funding is not only a validation of Wellfully’s progress over the past few years, it is a signal of confidence in the company’s future development, especially coming from an established partner like GEM,” he said.
“It is also an important step to bring operations and financial strategies into general alignment. The facility represents smart and efficient access to capital for both existing and future shareholders and is structured to respond and adjust to the rapidly changing reality of the company.”
Last week, Wellfully was cleared to use the “SWISS MADE” label and the associated logo of the Swiss flag on all RÉDUIT products, effective April 26.
The label optimises the brand positioning of Wellfully’s products across markets and visually associates the products with the highest international quality standards of Swiss brands.
Shares in Wellfully were up 3.8 per cent to 8.2 cents each at 10:34 am AEST.