Proactive Investors - Run By Investors For Investors

Collaborate Corporation raises cash for peer-to-peer businesses

Collaborate Corporation raises cash for peer-to-peer businesses

Collaborate Corporation (ASX:CL8) has raised A$641,000 via an oversubscribed placement at A$0.021 per share to drive growth of the company’s peer-to-peer businesses.

Shares in the company were last trading at $0.022.

The fundraiser notably included the continued support of Collaborate leadership, with non-executive director Domenic Carosa subscribing for shares in the placement’s second tranche.

Proceeds will be used towards driving the growth of DriveMyCar, MyCaravan and Rentoid websites through marketing, public relations and product development activities.

This is expected to support the development and monetisation of the PeerPass platform and allow for the funding of investments that align with the company’s peer-to-peer strategy.

PeerPass was developed to empower peer-to-peer marketplaces to provide a safe and reliable environment for their customers to interact.

This service is achieved by managing connections to social networks, credit checks and fraud prevention as well as offering a forum for feedback and electronic signatures.

DriveMyCar, MyCaravan and Rentoid, meanwhile, are regarded are Australia’s leading peer-to-peer businesses for car, caravan and general rentals, respectively.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

View full CL8 profile View Profile

Collaborate Corporation Ltd Timeline

Related Articles

Fertoz ore stockpile at Butte, Montana
November 27 2018
The company’s lead rock phosphate projects are Wapiti and Fernie in British Columbia.
food in restaurant
September 17 2018
BigDish will start rolling out its platform to restaurants in Bath, before expanding across the south-west and eventually throughout the UK
1535732048_universal-mcloud--wind-turbines.jpg
September 01 2018
The tech group is increasingly expanding its geographical reach and gaining traction in China

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use