iSignthis has successfully placed more than 26 million shares with institutional investors in a capital raise of $10.45 million.
“The funding will enable iSignthis to accelerate growth, and further leverage our market advantage as a superior product with only limited competition,” said John Karantzis, iSignthis marketing director. He says the funding will help the company expand marketing efforts, add to its sales team, and provide working capital for the company while it grows its sales pipeline.
Shares were priced at 40 cents. iSignthis trades on the Australian Stock Exchange under the ticker “ISX.”
Managing Director and CEO John Karantzis demonstrated iSignthis at FinovateEurope 2015 in London.
Originally founded to help merchants fight card-not-present (CNP) fraud, iSignthis provides a cloud-based identity-verification and -authentication platform for payment service providers (PSPs), payment gateways, FIs, card issuers and acquirers, and more. The technology helps businesses meet KYC, AML, and other regulatory requirements, and is available to more than 3 billion customer accounts in 200-plus countries.
iSignthis has bookended 2015 with fundings, previously raising $3 million in January. The company announced a partnership with global workplace credential management firm, TikForce, in October. And in September, iSignthis teamed up with the largest digital currency processor in Europe, Coinify.
Founded in 2013 and headquartered in Melbourne, Victoria, Australia, iSignthis made its Finovate debut at FinovateEurope 2015 in London.
