Peppermint Innovation, an ASX-listed FinTech company, has successfully raised AUD $1.102m in a recent funding round.
The investment came through a placement to sophisticated and professional investors, showcasing strong market confidence in Peppermint’s vision and strategy, according to a report from Australian FinTech. This placement involved the issuance of 73,500,000 fully paid ordinary shares at a price of 1.5 cents (A$0.015) per share, which represents a 15.8% discount from the 30-day VWAP of 1.78 cents (A$0.0178).
Peppermint Innovation is making significant strides in the FinTech industry by focusing on developing and enhancing its bizmoLoan offering. The company is keen on leveraging Artificial Intelligence (AI) and Customer Experience (CX) to streamline and improve financial services. With a clear vision to integrate advanced technologies, Peppermint is set to redefine lending practices and customer interactions in the financial sector.
The freshly acquired capital will be instrumental in expanding Peppermint’s bizmoLoan service. It aims to harness the potential of AI and CX, marking a pivotal step in the company’s journey towards innovation and customer satisfaction.
Peppermint Innovation Managing Director and CEO, Chris Kain, shared his optimism about the support received for the capital raise. “The Company is excited by the level of support that we have received for our latest capital raise from select sophisticated and professional investors of CPS, and highly appreciative of Jason’s personal ongoing support. We believe AI is the single most important technology mega-trend of our generation and we have a clear roadmap to become the most advanced AI-powered lender in the Philippines.”
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