Business
Nearmap launches $90m capital raising spree – The Australian Financial Review
The aerial photo-mapping company is raising $90 million from institutions and retail shareholders to fund North American expansion.
“The third $15 million is for building our internal systems to allow us to scale rapidly. So you can see all of those things are about driving more growing into FY22 and beyond,” Mr Newman said.
Nearmap has earmarked the remaining capital for strategic purposes such as acquisitions. Citi has underwritten the institutional capital raising, which was first reported in Street Talk on Thursday.
Mr Newman said the COVID-19 pandemic had proved more of a tailwind than a headwind as reliance on his co…
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