Druces’ Capital Markets team has advised GSTechnologies Ltd, a fintech company operating, inter alia, a multi-currency e-wallet service, cryptoasset exchange, cybersecurity and with a focus on developing a borderless neobanking platform providing next-generation digital money solutions, on a placing to raise gross proceeds of £2,000,000, in addition to a retail offer to existing shareholders.
The funds raised from the placing will be principally used to accelerate the implementation of the Group’s GS Money strategy, including the advancement of the recently acquired CAKE business and Bake Cryptocurrency Platform, and potentially further acquisitions.
Tone Goh, Chairman of GST, observed:
“Druces worked magically all through the day and into the late night and were geniuses at short notice. The performance was excellent and whenever time is of the essence, you want Jack and his team on your side.”
Jack Dervyn, Partner and Head of Capital Markets commented:
“GST operates in a very interesting tech space, and we have been along for the journey for a number of years. The CAKE business and Bake Cryptocurrency platform have been a key event for the company, and adds to the suite of digital asset services offered by GST.”
If you need any specialist advice from our Capital Markets team, do not hesitate to contact Partner & Head of Capital Markets Jack Dervyn at j.dervyn@druces.com or complete the form below.
