viewK2fly Ltd

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: 0.355 AUD

Market: ASX
Market Cap: $33.02 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of K2fly Ltd named herein, including the promotion by the Company of K2fly Ltd in any Content on the Site, the Company receives from said issuer...


Canary Capital's Paul Hart talks Pointerra, K2Fly and Harvest Technology

Paul Hart from Canary Capital discusses with Proactive's Andrew Scott the important aspects he looks for in companies such as strong management teams with successful track records as well as globally scalable business models. Hart talks through three technology companies which Canary has...

on 31/7/20

2 min read