Mysale secures 1.6 million pounds in funding

International online retailer Mysale has raised around 1.6 million pounds from shareholders via an open offer.

In August, Mysale raised 11 million pounds in a discounted share placing.

Carl Jackson, CEO of MySale, said in a statement: “Having now completed our placing and open offer, raising total gross proceeds of approximately 12.8 million pounds, and undertaken a significant operational reorganisation, the group now has a fundamentally different structure, operating on a debt free basis and with a strengthened platform from which we can focus on the acceleration of our ‘ANZ First’ strategy.

“Concentrating on Australia and New Zealand, we have scalable and proprietary technology which can effectively support our retail marketplace platform which provides a compelling sales channel for domestic and international brands, particularly through its counter-seasonal and clearance solutions.

“With a strong line-up of brand partners and a skillful and dedicated team, we believe that the future offers significant opportunities for the recapitalised group.

“We could not have reached this point without the significant support shown by our shareholders and other stakeholders, for which we are grateful and we look forward to delivering value going forwards.”