SaaS solutions provider AppsVillage Australia Ltd (ASX: APV) has successfully completed a placement to institutional and private investors raising $2.14 million.
The company has also announced plans to raise up to a further $2 million via an offer to eligible shareholders of new fully paid ordinary shares in the company under a share purchase plan (SPP),
Founder and CEO, Max Bluvband, said AppsVillage will use proceeds from the Placement and SPP to continue to develop and enhance its platform supporting the digital presence of SMBs along with general working capital requirements.
We are very pleased with the support shown by both domestic and international institutions and private investors as we continue to enhance the AppsVillage global reach and platform,” Mr Bluvand said
“We remain focused on providing SMBs with the tools necessary to build their digital capabilities and presence in simple and cost-effective ways.”
The company recently launched JARVIS, an artificially intelligent (AI) marketing manager for Facebook advertising and promotional campaigns, along with the company’s microfinance offering through partnerships in the United States and Australia, are seen as key drivers for the Company on its path to profitability.
Mr Bluvand said the company’s long-term growth strategy is focused on delivering profitable customer growth.
He said this is being executed by continuously expanding and improving the capabilities of our technology, which will deliver better results for customers, leading to a significantly improved customer ROI.