RC365 secures GBP2.3 million funding with CEO-backed facility
(Alliance News) - RC365 Holding PLC on Thursday said it has secured around GBP2.3 million of funding from a facility backed by Chief Executive Officer Chi Kit Law and a broker placing.
The payment solutions and fintech company, which operates primarily in east and southeast Asia said it has entered a standby credit facility of up to USD2.0 million with Lys Ltd, a substantial shareholder in the firm which is wholly owned and controlled by the CEO.
The facility is interest-free, unsecured and has no commitment, arrangement or utilisation fees.
"The board believes that the provision of the facility by the company's CEO and a substantial shareholder demonstrates his continued confidence in the group, its strategy and its long-term prospects," RC365 added.
The company said the package can be used, in whole or in part, to support platform development, scale up revenue producing opportunities from new customers and for general corporate purposes.
It has an initial term of 24 months. Drawdowns may be requested on at least three business day's written notice.
Any amounts drawn are repayable at the end of the 24-month term.
"I am excited by the group's long-term strategy and growth prospects based on the recent launch of the group's RC3.0 platform. By making this interest-free standby facility available, I am pleased to provide the company with additional financial flexibility to support its continued development and future growth," said CEO Chi Kit Law.
RC365 adds that it raised GBP750,000 before expenses through the placing of 34.1 million new shares at 2.2p each.
It expects admission of the new shares will become effective next Tuesday.
Shares in RC365 were down 4.3% at 2.49 pence on Thursday afternoon in London.
By Michael Hennessey, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2026 Alliance News Ltd. All Rights Reserved.
The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
More In Markets
Markets Brief: Big-Tech Capex and What’s Next for the Yen
Investor Focus: Most-Shorted UK Stocks, Andy Burnham’s Pensions Plan, FTSE 100 AI Winners and Losers
