Kyckr (ASX:KYK) completed a placement through the issue of approximately 78.35 million new fully paid ordinary shares at 6.6 cents per share to new and existing investors.
Kyckr says the proceeds from the placement will be used to accelerate the company’s global commercialisation and will be applied towards additional resources - business development and account management – and continued investment of products and general working capital purposes.
Kyckr CEO, Ian Henderson, said, “We are delighted by the support received from new and existing investors. It is particularly rewarding that someone of the calibre of Richard has become a strategic investor which validates the strong appeal in Kyckr’s technology and business proposition.”
Henderson said Kyckr had made increased progress in the last few months with the launch of the improved digital platform, Kyckr.com, for Know-Your-Customer authentication which has seen encouraging early growth signs since launch.
And Henderson said the company also continues to focus on developing strategic partnerships with firms across the financial, data and technology space, as a method of growing exposure to new clients and revenue.
Richard White said: “I can see in Kyckr, a product, business and opportunity set that can be leveraged and accelerated to major advantage, and I am grateful to be able to help the company accelerate its growth ambitions both in the placement and, time permitting, occasional advice to the team.”