RiverFort is pleased to announce that it has arranged a financing facility with Whispir Limited (ASX: WSP) (“the Company”) for up to A$7.5m

SYDNEY--(BUSINESS WIRE)--Whispir Limited (WSP) is an ASX-listed Software-as-a-Service ('SaaS') provider that specializes in the development and provision of communications management systems via a cloud-based platform. The Group enables the integration of smart applications and micro communications services into existing workflow solutions to automate specific areas of business-critical communications across mobile/email/voice/social/web. WSP operates across three regions of ANZ, Asia and North America.

Whispir recently completed a successful restructuring, which has delivered cost savings in excess of A$18 million per year, to put them on the path towards positive free cash flow generation. The Company intends to use the first A$1 million drawdown for working capital purposes whilst it achieves this goal, with a further A$6.5 million available for further investment in product development and revenue growth.

Jeromy Wells, Whispir’s Chief Executive Officer and founder said:

“This facility provides us with important access to immediate cash to manage working capital, and gives us the flexibility to inject capital back into the business to accelerate revenue growth down the track. After considering financing offers from a number of local and global financiers, we deemed the offer from RiverFort to be the most competitively priced with the most flexibility, and they also have a proven track record of lending to ASX-listed companies.”

About RiverFort:

At RiverFort, we develop and structure medium-long-term capital and investment solutions for publicly listed companies to accelerate sustainable growth. Having funded over 150 companies and had over £1.5 billion in funded transactions, we are an international business operating from offices in London, Australia, and Gibraltar along with a strong presence in Europe and Canada. RiverFort has a multisector and global orientation and pride ourselves in creating mutually beneficial partnerships between our alternative funding sources, including family office co-investors, and investee companies we believe in.

We recognise that there is no single structure that works for every company, and instead work with management teams to understand their immediate and long-term capital goals to establish bespoke funding arrangements designed to support growth.

Authorised and regulated by the Financial Conduct Authority (Reg No: 766760)

If you are interested in expanding the sources of capital available to you, get in touch with our Australian Investment Associate, James Rooke ([e-mail]) to find out more.