An update from Zoom2u Technologies Ltd. ( (AU:Z2U) ) is now available.
Zoom2u Technologies has successfully raised $500,000 through a placement of ordinary shares to wholesale investors, priced at $0.07 per share. The funds will be used to bolster the company’s balance sheet and provide additional working capital to expand the Locate2u business. The placement includes a premium over the last traded share price and offers free-attaching options for investors. The capital raised is intended to support the global growth of Locate2u, focusing on securing enterprise customers in Australia and expanding sales efforts to smaller and medium-sized businesses worldwide. This financial boost aims to continue the company’s growth trajectory and achieve sustainable profitability.
More about Zoom2u Technologies Ltd.
Zoom2u Technologies is a global provider of innovative and real-time tracking delivery solutions, serving as the parent company for Zoom2u and Locate2u. Locate2u offers a global last mile delivery SaaS product to over 500 businesses managing their own fleet of vehicles, while the Zoom2u Platform provides an Australia-wide marketplace connecting customers to a network of local drivers for fast deliveries. Since its inception in 2014, Zoom2u has processed over 4.3 million deliveries to more than 100,000 customers and has onboarded over 18,000 drivers.
YTD Price Performance: -21.05%
Average Trading Volume: 57,085
Technical Sentiment Consensus Rating: Buy
For a thorough assessment of Z2U stock, go to TipRanks’ Stock Analysis page.