Sezzle Inc. (ASX:SZL) announced a capital raising of ~A$86.3 million to accelerate its growth strategy & strengthen its balance sheet. The capital raising would be through a fully underwritten institutional placement to raise A$79.1 million, followed by a non-underwritten Security Purchase Plan to raise A$7.2 million.
The proceeds shall be used in:
- Sales and marketing
- Product enhancement and expansion costs
- International expansion opportunities
- Strengthening the balance sheet