Tintra PLC (AIM:TNT) shares jumped some 23% higher in Friday’s early deals as the UK fintech firm landed US$10mln of funding.
The company, in a statement, said that it had received a subscription agreement for US$10mln under its current funding round. The funds are coming via a new special purpose vehicle, backed by the Family Office of a Gulf-based investor.
Some 684,594 new shares are being issued at a price of 1,178p per share, and, the investor will also receive share warrants.
Tintra chief executive Richard Shearer stated that the company's funding round, which has faced challenges due to deteriorating economic conditions, has received continued interest from prospective investors and that Tintra is in discussions with a variety of funding partners to diversify its funding stack.
In London, Tintra shares rose by 64p or 24.6p, changing hands at 324p each.