Australian payment instalments company Sezzle has reportedly secured $55m in a funding round from new and existing CHESS Depositary Holders (CDI).
The company announced to the Australian Securities Exchange that it had issued 14.1 million CDIs udder placement, representing 8.4% of its existing capital.
As a result of the announcement, the company’s shares jumped by 22.3%.
“We appreciate the continued support of our existing institutional investors, particularly those that have remained as CDI holders and supporters since our ASX IPO, around one year ago,” said Charlie Youakim, executive chairman and CEO of Sezzle.
“It has been a hugely successful period for all Sezzle stakeholders and we thank these investors for the trust placed in the Sezzle management team and Board over that time, and also now for their ongoing endorsement.
“We also recognise the support from the new institutional investors who participated in the placement and their embracing of Sezzle management’s long-term vision and strategy to deliver returns over the coming years.”
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