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FATFISH GROUP LIMITED — Capital/Financing Update 2017
Jul 24, 2017
64911_rns_2017-07-24_166cf024-35c9-4dc5-8ac2-37e442ea0601.pdf
Capital/Financing Update
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Fatfish Internet Group Ltd (ACN 004 080 460) Level 4, 91 William Street Melbourne VIC 3000 Australia www.fatfish.co
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25 July 2017 ASX Announcement
Further Investment To Increase Shareholding In Fintech Asia Group and Potential Collaboration on Blockchain Technology
Fatfish Internet Group Ltd (ASX:FFG)(“Fatfish”) hereby announces that it is increasing its shareholding in Southeast Asia based Fintech Asia Group Ltd (“Fintech Asia”) from existing 45% to 49% of Fintech Asia’s issued capital via a further committed investment of USD 400,000 (approximately AUD 502,900).
The valuation of Fintech Asia is arrived on a willing seller and willing buyer basis, based on comparable valuation of peers of Fintech Asia’s portfolio of companies.
Fintech Asia is fintech venture builder and investor that holds a portfolio of companies in Southeast Asia including online insurance marketplace RajaPremi in Indonesia and p2p lending platform SmartFunding in Singapore.
The management of Fintech Asia further agrees to collaborate with Fatfish to explore mutual interest in the blockchain technology, including but not limited, to potentially assist Fatfish’s investee companies in working with offering of cryptocurrencies.
The Board of Directors, Fatfish Internet Group Ltd
About Fatfish Internet Group
Fatfish Internet Group Ltd (‘FFG’) is a Southeast Asian and Australian based Internet venture investment and development firm. FFG partners with entrepreneurs to help them build and grow Internet businesses via a co-
Fatfish Internet Group Ltd (ACN 004 080 460) Level 4, 91 William Street Melbourne VIC 3000 Australia www.fatfish.co
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entrepreneurship model.
FFG’s co-entrepreneurship model seeks an active involvement from seed funding stage to exit stage of its investee companies. In parallel FFG seeks to provide a collection of resources and expertise to support entrepreneurs in important areas such as business strategy, market access, talent recruitment, product development and corporate strategy.
This unique “seed-to-exit” approach makes FFG a strategic partner that provides the funding, resources and platform to hasten the growth of promising technology businesses.
FFG also offers corporate advisory services specializing in working with tech companies to bring to bear alternative funding and growth models for tech companies through Initial Public Offerings (IPOs) or capital market transactions vide trade sales or Mergers & Acquisitions (M&A).
For further question on this release, please contact:
Investor Relations Team [email protected]