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Friday 22 May 2020

Accesso raises £32.9m as customer base badly hit by C-19

Accesso logoHeavily impacted by COVID-19, technology solutions provider to leisure, entertainment and cultural markets accesso Technology Group, has raised £32.9m (gross) through a new share placing and subscription.  

After a challenging 2019, 2020 had started well with revenue up c.13% in the first two months before crashing c.12% during March. Transaction revenue, which represents 73% of total revenue, fell to near zero. After two rounds of cost cutting measures and assuming a nominal level of activity from mid-summer onward, management believed the company had the liquidity to support operations through summer and into the autumn period. The successful placing provides breathing space while the situation around when and how its clients can open their doors again becomes clear.

Posted by: Angela Eager

Tags: software   fundraising   shares  

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