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Cloudbuy focused on core products and eyeing profitability after £3.4mln fundraise

David Gibbon, CFO and COO for Cloudbuy PLC (LON:CBUY) caught up with Proactive's Andrew Scott to give some extra detail around their recent £3.4mln raise.

Long-term backer and former Morgan Stanley managing director Roberto Sella has agreed to subscribe for up to £3.4mln worth of convertible secured loan notes.

The first tranche of £1.7mln should hit the company’s bank account before the end of the year and the firm's confident this will be “sufficient to take the company to profitability”.

Quick facts: Cloudbuy PLC

Price: 2.15 GBX

AIM:CBUY
Market: AIM
Market Cap: £2.8 m
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on 23/3/17

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