10 Sep 2012

VMob to seek $5m from new investors

7:17 am on 10 September 2012

VMob has confirmed it's seeking to raise up to $5 million from new investors to speed its development plans.

Listing of the mobile phone voucher company followed a reverse takeover of the shell company Velo Capital, and it will be targeting a private placement to investors in Australasia.

Details about the offer are not yet available.

VMob, formerly known as VoucherMob, is targeting phone companies in emerging markets like Asia, by offering users points that can be redeemed for vouchers to films or restaurants when they top up minutes on their phone.