Investoo Group has completed the conversion into equity of all amounts outstanding under its £7.5 million credit line. It is one of several new initiatives pursued by Investoo as it seeks to consolidate and build on its position as a leading affiliate marketing and lead generation company in the retail investment space.
Investoo Group’s CEO, David Merry, commented: “We are delighted that our lenders agreed to become shareholders in the company. It shows great confidence in the future prospects of Investoo and puts the company on a sound financial footing as we seek to expand and diversify. We are fortunate to have experienced partners onboard, who recognise the full potential of the Investoo brand and who wish to share in our future success.”
Among Investoo’s converting lenders were two venture capital houses with a proven track record in supporting emerging businesses in the online consumer industry; Optimizer Invest and A Group of Friends Investments (AB).
Optimizer’s CEO, Peter Moldenius, commented: “We see huge potential in Investoo and were delighted to help the business move forward into a new era on a debt free basis.”
Co-Founder and Investment Manager of AGOF, Nicolai Chamizo, noted: “We saw a great opportunity to mutually benefit both AGOF and Investoo. As a result of the conversion Investoo has greatly strengthened its balance sheet position and AGOF has acquired interests in a business of which we have very high hopes. We are very much looking forward to supporting Investoo as it works to achieve its full potential.”
SOURCE Investoo Group
