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ASSET VISION CO LTD — Capital/Financing Update 2021
Feb 1, 2021
64438_rns_2021-02-01_a336b32a-01ad-4046-b5cc-758f063d34b1.pdf
Capital/Financing Update
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Level 11, 410 Collins Street Melbourne, Victoria Australia, 3000
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+61 3 9682 2699
2 February 2021
ASX ANNOUNCEMENT
Follow-on Investment in 1DERFUL
Future First Technologies Limited (ASX: FFT) ( FFT or “ the Company ”) is today pleased to announce a follow-on investment in financial technology company, 1derful. FFT has invested a further $1.25m by way of Convertible Notes at a face value of $1.00 per note and in doing so will maintain a strategic stake in 1derful.
Founded in 2019, 1derful offers customers a solution for the management of their day-to-day banking and financial services needs that is both simplified and optimised. At the core, 1derful will create a single ledger for a consumer giving them one “account” that takes care of all of their depositing and savings needs, as well as their borrowing and spending requirements.
FFT has supported 1derful’s progress since its initial investment in July 2020. The decision to invest additional capital at this stage followed further due diligence on 1derful’s progress and prospects. FFT has cornerstoned this latest raise, which was completed on terms that reflect the considerable progress made by 1derful over the past six months, and will continue to maintain a close relationship as 1derful moves towards a market listing in its own right.
In support of the capital contribution FFT has made to 1derful, FFT has the right to nominate a Director to the 1derful Board.
CEO, Keith Falconer, said:
“We are excited to bolster our relationship with 1derful and their leadership team led by CEO Luke Bunbury. They have successfully built out their solution from concept through to full beta testing and we look forward to seeing the consumer rollout in the coming months.
Consumer banking is undertaking a step change under the recent changes to the open banking regime and we see 1derful at the forefront of returning control and optimisation of everyday banking back to the consumer.”
For further information, please visit our investor website Future First Technologies Limited or contact investor relations at [email protected] or on +61 3 9682 2699.
This announcement has been authorised for release by FFT’s Board of Directors
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https://farmbuy.com/ https://assetvision.com.au/ https://www.1derful.com.au/
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About Future First Technologies Limited:
Future First Technologies is committed to shaping the future by building a portfolio of innovative digital platforms designed to make life simpler and safer. Through the ownership, development and commercialisation of digital assets in significant growth markets, Future First Technologies continues to build shareholder value, while putting the future first.
About 1derful:
1derful is building a better banking solution; a banking solution designed with a unique business model that ensures speed, agility, cost efficiency and scalability. 1derful offers a total product solution that will reframe the way consumers manage their day-to-day banking and finances. Founded in late 2019 and due to launch its first disruptive products during 2021, 1derful is close to signing a major commercial deal with a worldwide financial institution aimed at accelerating global expansion.
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https://farmbuy.com/ https://assetvision.com.au/ https://www.1derful.com.au/