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RC365 Holding PLC on Thursday said it has secured around £2.3 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 $2.0 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 £750,000 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. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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