Skyfii announces capital raise of $2.8 million

- May 14, 2015 < 1 MIN READ

Skyfii, which provides consumers with free in-store WiFi and retailers with data on consumer behaviour, has announced that it has raised $2.8 million from investors including Jan Cameron and Bruce Gordon.

In an announcement to the ASX today, the company stated that it has received commitments from existing and new sophisticated investors to raise $2.8 million through a placement of new ordinary shares.

The issue price for the new shares will be 22 cents per share, a premium of 10 percent to Skyfii’s last capital raise last November, and a premium of 18.9 percent on the closing share price yesterday. The issue and allotment of the new shares will take place next Tuesday.

Wayne Arthur, Skyfii CEO, said that the company is encouraged by the continued support of existing shareholders and pleased to have secured the support of new investors.

The funds raised will go towards funding the delivery and current and future contracts both in Australia and internationally, allowing Skyfii to expand its staff in order to pursue new growth opportunities, and provide additional working capital.

At the heart of Skyfii’s offering is its Guest WiFi, which shopping centres and retailers can offer to consumers. Skyfii then collects both personal and behavioural consumer data to help retailers better understand their customers and drive sales by allowing them to analyse data and send tailored communications to customers.

Skyfii has a presence in Indonesia, New Zealand, South Africa, and Brazil, having inked a deal to become the preferred partner for the Brazilian shopping centre group Iguatemi in April this year.