10 Feb 2012

New investors found for Xero

12:46 pm on 10 February 2012

Three founders of online accounting software company Xero have sold almost 2% of their shareholding to new investors.

Rod Drury, Hamish Edwards, and Alistair Grigg sold $5 million worth of shares to a Brad Shofer of Australia, as well as five institutions in the United States and New Zealand.

Mr Shofer joins his MYOB co-founder, Craig Winkler, as one of Xero's top 20 shareholders.

Xero last week raised $20 million in a private placement and share purchase plan for New Zealand-based investors.

The company says it was approached by the other investors after that deal.