Street TalkIOUpay hunts cash injection for BNPL expansion
Nov 5, 2020 – 11.22amASX-listed South East Asia-focused digital banking outfit IOUpay is on the hunt for fresh capital to build out its buy now, pay later offering.
IOUpay launched a capital raising on Thursday. Jim Rice
The company launched a $4 million placement on Thursday morning, with help from Barclay Pearce Capital.
The new shares were being offered to funds at 16¢ each, which represented a 17.9 per cent discount to the company's last close, according to terms sent to funds.
Money raised would go towards accelerating the establishment of IOUpay's BNPL offering, funds were told.
The $71 million company has three business divisions; mobile banking, digital payments and digital services like data analytics. It mainly operates in South East Asia, and in particular Malaysia.
Bids into the placement were due by 2pm on Thursday
Ann: Trading Halt, page-98
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