Cirralto raises $2.7 million to support transition to digital payments business

Cirralto Ltd (ASX:CRO) managing director Adrian Floate discusses a strongly oversubscribed placement raising that will support the company's ongoing transition to a digital payments company.

He said: "We set out to raise $2 million and after receiving strong demand, decided to take oversubscriptions and have ended up raising in excess of $2.7 million, which is great."

Floate said these funds would be used for the ongoing restructuring process on the "journey to a payments business" - one that makes processing B2B payments easier for customers.

He said the company was looking to build further capacity to enable it to grow across the board through sales, marketing, implementation, support and technology.

Quick facts: Cirralto

Price: 0.032 AUD

Market: ASX
Market Cap: $63.61 m

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