18 Jun 2013

New funding for VMob

7:04 am on 18 June 2013

VMob has also raised $1.3 million in a private placement of shares.

The new funding means the technology company is now debt free and has about $1 million in the bank, which it says is sufficient to sustain its working capital for the next 12 months.

The company says the placement attracted strong demand from high net worth investors in New Zealand and Australia.

The shares issued represent nearly 11% of the total number of shares in VMob after the latest sale is completed.