FinTechFunding

Frontier Digital Ventures: Raises $40m to fully own Encuentra24

Frontier Digital Ventures Raises $40m to fully own Encuentra24

  • Frontier Digital Ventures (FDV) announces a $40 million capital raising to increase its stake in Encuentra24 (E24) to 100 per cent
  • The company entered sale agreements with OLX Group and the founders of E24 to purchase their respective interests in the classifieds marketplace
  • E24 is a classified marketplace with a presence in five Latin America markets and FDV says full ownership allows it to consolidate its position in this region
  • The capital raising includes a $35 million placement which will partially fund the acquisition price and a $5 million share purchase plan
  • On the market today, FDV is down 4.11 per cent and trading at $1.52 per share
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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