RedCloud, a FinTech company that operates a B2B trading platform for fast-moving consumer goods, has announced it has entered into a securities purchase agreement with institutional and accredited investors.
The agreement will see RedCloud raise around $13.5m in gross proceeds before fees, with the company’s largest current shareholder and one of its directors investing $7.5m in the round.
Roth Capital Partners acted as the exclusive placement agent, while Clear Street served as financial advisor on the transaction.
RedCloud’s platform is designed to solve the persistent challenge of unlocking and enabling access to key purchase and sales data between brands, distributors and retailers across high-growth consumer markets.
The company uses artificial intelligence to help retailers make faster and more informed B2B purchasing and inventory decisions, streamlining the complexity of managing large product catalogues.
The private placement includes the issuance of 9,000,000 ordinary shares and accompanying warrants to purchase an additional 18,000,000 shares, with a combined purchase price of $1.50 per share and accompanying warrants.
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