Flexiroam Ltd (AU:FRX) has released an update.
Flexiroam Ltd has successfully completed a $2 million capital raise, which includes placing the remaining shares from its March Entitlement Offer and a private placement by the Executive Chair. The capital will enhance the company’s eSIM data roaming technology, marketing, and recruitment, with the aim to achieve cashflow breakeven and EBITDA positivity in FY24. These efforts are expected to bolster Flexiroam’s growth strategy in its core Travel business and Solutions segments.
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