More fatberry news on the abelco web site 26/8/21:Abelco...

More fatberry news on the abelco web site 26/8/21:

Abelco Investment Groups (“Abelco”) Insurtech company Fatberry Sdn Bhd (“Fatberry”) shows continued high growth. When the company broke its sales record again last week, Abelco is now reviewing the financing opportunities and investment opportunities in the company, in order to create and accelerate the expansive growth in Fatberry. Abelco has now agreed with another major player to jointly finance faster growth in the company.

This week, Fatberry broke its daily sales record where the company sold insurance products worth more than SEK 180,000 in one day. This is in line with the rapid growth that Fatberry's management continues to see in the company and the market. Fatberry has also recently broken its daily record in the number of visitors who used the site in their search for insurance products. Fatberry now aims to have more than 200,000 visitors a month to its site by the end of September, which would make it one of the most visited digital insurance sales sites in Southeast Asia.

At the same time, Fatberry is reviewing its financing opportunities and market value, and in order to maintain and accelerate the expansive growth, Abelco has now agreed with another major owner on a bridge financing of a total of USD 0.25 M, where Abelco will finance the company with approximately USD 0.2 M

“When the company now shows such growth, it is important that we as larger companies can participate and contribute, instead of the company investing energy and resources in financing the growth, we at Abelco can participate and contribute. This is so that the management and the team can use the resources to help further accelerate growth. Abelco was the leading investor in the most recent issue, where Fatberry had a total valuation of approximately SEK 18 million, we now see a significant increase in this value. ” - Johan Rooth - CEO, Abelco Investment Group