Propell raises cash to enhance ‘one-stop-shop’ small business finance platform

Propell Holdings (ASX: PHL) chief executive officer Michael Davidson joins Small Caps to discuss the company’s growth plans for its digital finance platform.

Following a successful March quarter in which the company posted record growth in its lending division, it recently completed a placement raising $1.36 million and has just launched an entitlement offer to raise an additional $2.22 million.

Funds will be used to support ongoing platform development, wholesale facility extension and working capital requirements.

Propell is an “all-in-one” digital app aimed at revolutionising how Australian small businesses manage their finances. Leveraging artificial intelligence and extensive customer data, the platform combines a range of financial products and services including lending, payments, insights and cashflow forecasting tools.

Article:
https://smallcaps.com.au/propell-holdings-opens-offer-raise-small-business-lending-app/

For more information on Propell Holdings:
https://smallcaps.com.au/stocks/PHL/

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