AIM-listed, loss-making Cambridge-based mobile payments and analytics player, Bango, has provisionally raised £6.5m gross through a lightly discounted share placing at 200p resulting in a c. 8% share dilution. Bango’s shares rose steeply a year ago and closed yesterday at 206p. The funds will be used both to strengthen the balance sheet as well as develop the business. Bango raised £3m net last May.
Certainly Bango CEO Ray Anderson knows how to ‘talk the talk’, and seems to be making the right connections for the business (e.g. see Bango goes live with Facebook payments). But in the end ‘the truth is in the numbers’, and so it would be jolly nice to see the bottom line start heading in broadly the same direction as the top.