Vipera rises £2.7m in share placing

11th May 2015 15:30

Mobile financial-services solution provider Vipera has raised £2.7m in a share placing.The London-listed company said the proceeds from the subscription, which is conditional on receiving advance assurance from the UK's tax and customs authority, will be used to fund sales, marketing and product development."The funds raised will ensure we have the resources to capitalise on the heightened demand for mobile software services which continues to empower both banking and financial services communities," said group chief executive Marco Casartelli.Vipera said it will issue 59.7m new shares at 4.5p each with new and existing institutional investors.Meanwhile, the group has unveiled a mobile card control service to a "leading German Bank, headquartered in Frankfurt", the second such initiative in the last six months.In 2014, Vipera annual pre-tax loss widened from €125,554 (£90,096) to €761,829, as higher revenue was offset by a drastic increase in operating expenses.Vipera shares were down 2.44% to 5.00p at 15:45 on Monday.