Mogul raises AU $8M in oversubscribed share placement

Australian-based matchmaking and tournament platform Mogul has raised AU $8M (~£4.432M) in a significantly oversubscribed share placement.

The latest capital injection is expected to allow the company to continue operating fully funded for the next 24 months.

Credit: Mogul.ggAccording to a release, financial support from the placement came from a mixture of new and existing shareholders, including AU $50,000 (~£27,701) investment from Mogul Chairman, Gernot Abl.

The company is expected to use the funds to continue developing its matchmaking and tournament platform, accelerate its monetisation and brand engagement strategies, further international partner engagement, expand partnerships with PC…