Friday, 20 September 2019 12:11

Kyckr completes $5.2 million capital raise via share placement Featured

By
WiseTech founder, CEO Richard White WiseTech founder, CEO Richard White

Australian-listed technology regulation company Kyckr has completed a $5.2 million capital raising led by investor and founder and CEO of WiseTech Global Richard White.

Kyckr (ASX:KYK) completed a placement through the issue of approximately 78.35 million new fully paid ordinary shares at 6.6 cents per share to new and existing investors.

Kyckr says the proceeds from the placement will be used to accelerate the company’s global commercialisation and will be applied towards additional resources - business development and account management – and continued investment of products and general working capital purposes.

Kyckr CEO, Ian Henderson, said, “We are delighted by the support received from new and existing investors. It is particularly rewarding that someone of the calibre of Richard has become a strategic investor which validates the strong appeal in Kyckr’s technology and business proposition.”

“The capital injection reflects the continuation of an exciting chapter of growth for the Company in the ever increasing global RegTech landscape,” Henderson said.

Henderson said Kyckr had made increased progress in the last few months with the launch of the improved digital platform, Kyckr.com, for Know-Your-Customer authentication which has seen encouraging early growth signs since launch.

And Henderson said the company also continues to focus on developing strategic partnerships with firms across the financial, data and technology space, as a method of growing exposure to new clients and revenue.

Richard White said: “I can see in Kyckr, a product, business and opportunity set that can be leveraged and accelerated to major advantage, and I am grateful to be able to help the company accelerate its growth ambitions both in the placement and, time permitting, occasional advice to the team.”

 

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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