Peppermint Innovation Ltd (ASX: PIL) has today reported cash receipts up an impressive 92% this quarter and 183% over the prior six-months.
Further growth is expected in the Philippines as more partners use Peppermint’s bill payment services. Their Bizmoto network also continues to expand with 12000 agents now having access to the remittance and mobile banking services.
PEGG Capital Limited is now showing further support, increasing their investment to $2m (including Smidge’s $1.5m placement). Albert Cheok, PEGG Capital Limited chair and 5G Networks chair, has been appointed non-executive director on the Peppermint board. PEGG Capital is a 600 million Euro Malta-based investment company and they are now notifying PIL of the capacity to increase funding support to up $5 million in total.
Caason Group is also providing $1.5m via a convertible note facility.
Craig Astill, Caason Group MD & CEO. said: “Caason Group is glad to be part of the Peppermint Innovation commercialisation journey as a top 10 shareholder.”
Find the quarterly overview released to the ASX here: https://www.asx.com.au/asxpdf/20190430/pdf/444nskjm5tnkbk.pdf