$5m capital raised via convertible note and share placement
We are pleased to announce the completion of a convertible note offering to strategic investor Faria Education Group and a share placement to a number of institutional and sophisticated investors for Schrole. We acted as lead manager to the placement. We’ve been working with Schrole for over 12-months now and have completed 3 capital raisings for the business.
Technology and education.
Schrole delivers innovative, technology-based HR solutions for the education sector. The company has four revenue generating business units: ISS-Schrole Advantage, Schrole Verify, Schrole Cover, and Schrole ETAS (now Develop).
Faria Education Group (Faria)has invested AUD $2.9 million in Schrole, via a convertible note, which will convert into a 19.99% strategic stake. Faria is a world-leader in online education systems and services and powers curriculum for more than 10,000 schools and districts and three million students.
The funds raised will provide Schrole to progress a number of planned technical, product development and cross selling initiatives which are expected to significantly enhance user experience and drive growth.
Opening a new chapter
“This capital raise represents the beginning of an exciting new chapter for the business and one that will enable Schrole to expand the sale of our software as a service platform to drive growth”. Schrole Group Managing Director, Mr Rob Graham