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K2fly raises $1 million to fund revenue growth through contract wins

The company sells its own software (RCubed and Infoscope), resells third party’s software, and provides experienced consultants to clients using the software.

K2fly Ltd - K2fly raises $1 million to fund revenue growth through contract wins
The RCubed software is used for mineral resource governance purposes

K2fly Ltd (ASX:K2F) has received commitments from sophisticated investors to raise $1 million through the issue of shares priced at 16 cents.

Funds raised from the share placement will be used to implement the recently outlined RCubed contract wins, anticipated new contracts and to grow the business.

Recently signed contracts include a 3-year SaaS-based software contract with leading gold producer Newcrest Mining Limited (ASX:NCM).

K2F’s CEO Brian Miller said: “We are delighted to have received strong demand for the placement from both existing and new institutional and sophisticated investors who are very supportive of the company’s direction and implementation of the recently announced RCubed SaaS contracts and our future growth prospects.”

Proactive caught up with K2fly last week to discuss their recent contract wins.

Growing a SaaS business

K2fly is a technology company focused on building a high margin SaaS business based in Perth and Johannesburg.

The company generates revenue through SaaS contracts with customers for its two software solutions, RCubed and Infoscope.

K2fly also generates revenue by reselling third party’s software and provising consulting services to its clients.

Quick facts: K2fly Ltd

Price: 0.17 AUD

ASX:K2F
Market: ASX
Market Cap: $13.87 m
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Watch

Full interview: K2fly awarded new RCubed SaaS contracts as demand increases...

K2fly Limited (ASX:K2F) chief commercial officer Nic Pollock updates Proactive on significant recent contracts for the company’s RCubed SaaS solution as demand increases.  Pollock said there was growing momentum being seen, particularly in the mining sector as the RCubed resource...

on 13/9/19

2 min read