Investors trust the management. The current CEO has been doing an excellent job. Now that the company is nearing profitability with substantial revenue increases likely QoQ, this latest raise was naturally required to fund the expected growth in the loan book.
It also allowed new institutional/sophisticated investors to enter what is now a highly de-risked investment - at a bargain price. I think you will find that this is where the (retail) investors you refer to take issue. Given this happens with all stocks, noone should be surprised.
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