Mint Payments, an Australian payments firm, has raised A$6.6m ($4.9m) in total funding with completion of a share purchase plan.
The share purchase, which was expected to raise A$1m in capital, was oversubscribed and ultimately provided A$1.2m.
The remaining A$5.4m of funding was raised through a combination of equity and debt.
The company aims to use the capital to expand its presence across Southeast Asia, ramp up growth in its direct to customer channel in Australia, as well as facilitate general working capital needs.
Commenting on the development, Mint Payments CEO Alex Teoh said: “We’re really heartened by the level of support we’ve received from our existing shareholders and pleased that our placement has also attracted new quality institutional investors.
“It’s a real testament to the growth we’re experiencing across the Travel and Hospitality sectors here in Australia, and the incredible opportunity we’re presented with through our partnerships in Singapore and Malaysia. These funds provide us with the resources necessary to capture the full value of these opportunities.”