Mode Global Holdings PLC (LSE:MODE, OTCQB:MODGF) confirmed it has raised £2mln of new funding as it completed the issue of a convertible loan to support growth plans.
The loan notes issued by Mode are unsecured and carry an 8% interest coupon.
"Our recent fundraising displays the ongoing strength in our core businesses and shows that appetite from both new and existing investors has not waned despite the recent bout of market volatility,” said Rita Liu, Mode Global's chief executive.
“This fundraising round provides us with a greater opportunity to expand our unique position as an FCA-registered and LSE-listed fintech leader."
Jonathan Rowland, Mode Global's executive chair, added: “Since Mode's inception, we have worked hard to develop a suite of products that offers long-term value to businesses and consumers that modernize financial services
“The latest fundraising round shows that investors believe we have done that, and will continue to do so in the long term.
“In today's tough environment, our ability to close the fundraising round shows that we, and crypto, are here to stay. We look forward to continuing to deliver value to shareholders."