By Raphael Michilis
US-based financial platform for children Virtual Piggy has pooled $8.5m with
the selling of its stocks in few private funding rounds early last April and May.
The last transaction was
registered at the US Securities and Exchange Commission (SEC) on May 13 and the
amount was confirmed by a Virtual Piggy spokesperson.
According to the notice filed at SEC, the capital comes from different investors including Fiordaliso LTD and FEQ Realty.
According to the notice filed at SEC, the capital comes from different investors including Fiordaliso LTD and FEQ Realty.
In the contracts signed
with Virtual Piggy, the new shareholders acquired opening tranches of common
stocks and agreed to buy future lots in monthly closings until November this
year.
The company refused to say
how the funding will change the company operations.
One of the SEC document reports that more than 70 investors took part in the funding rounds and each buyer purchased initial aggregates of around 150,000 common stock units.
One of the SEC document reports that more than 70 investors took part in the funding rounds and each buyer purchased initial aggregates of around 150,000 common stock units.
Each
unit was composed of two shares of Virtual Piggy’s common stock and a warrant to
buy an extra share.
The
units’ value ranged from $ 0.6125 to $0.80 and the shares were worth between
£0.40 and $1.
The company refused to
comment the matter, at least until next week.
Earlier this year, Virtual
Piggy’s CEO and founder Jo Webber hailed the platform as the first payment
system to allow children under 13 years of age make legal online purchases,
with parents dictating the limits.
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