Irish travel technology company Datalex – a world leader in retail technology solutions for many of the world’s leading airlines – has successfully raised €25m in funding through a share placing and open offer.
The company will use the money to pay down €13m from its outstanding Tireragh Limited loan facility, which had accrued €1.6m as of the end of June.
The company said it also has “a strong pipeline” of opportunities following recent high-profile partnership activations with Aer Lingus and Air Macau.
Commenting on the Capital Raise, CEO of Datalex, Jonathan Rockett, said: “We are delighted to be in a position to have completed our capital raise. The funds will be used to strengthen the Company’s balance sheet, enabling us to complete the repayment of the outstanding Tieragh loan facility and transition to a more sustainable capital structure for the Group.
“This marks the beginning of a new chapter for Datalex; a chapter which will provide the Company with greater scope to implement is growth strategy, generate new revenue opportunities, accelerate investment in our product roadmap and continue with activation projects and opening the door for exciting partnerships. Following the recent activations with existing customers, our go-live with Air Macau who signed with Datalex less than nine months ago, and the launch of our offer and order product portfolio, I am extremely excited with the momentum behind the company at present and look forward to maintaining this into the future.“
