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IOUpay Limited ( (AU:OVT) ) has provided an update.
Ovanti Limited has secured firm commitments for a $5.27 million placement to sophisticated and professional investors, issuing about 520 million new shares at a significant discount to fund its global BNPL platform and Super App strategy. The company plans to use the proceeds to integrate AI into its platform, expand merchant connectivity and its international network, further develop its BNPL and Super App ecosystem, pursue strategic vertical and horizontal growth opportunities, and cover working capital and transaction costs.
Investors in the placement are also expected to receive free attaching options, with a further bonus options entitlement issue proposed, reinforcing incentives for continued support as Ovanti advances its long-term growth plans. The raise provides additional runway for the company to accelerate its AI-enabled financial services roadmap, including potential expansion into digital banking, investment, exchange access, and custody-related services, which could strengthen its competitive positioning in the fintech and BNPL sectors.
More about IOUpay Limited
Ovanti Limited is an ASX-listed financial technology company focused on a global buy now, pay later platform and a broader Super App ecosystem. Its strategy centres on integrating AI-driven capabilities, expanding international merchant networks, and building an AI-enabled financial services and commerce infrastructure through strategic partnerships.
Average Trading Volume: 3,053,824
Technical Sentiment Signal: Sell
Current Market Cap: A$4.77M
For a thorough assessment of OVT stock, go to TipRanks’ Stock Analysis page.