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LONDON (Alliance News) - Investment company Blue Star Capital PLC on Wednesday said investee company Sthaler Ltd has completed a GBP1.0 million fundraising which has doubled the value of Blue Star's investment.
Sthaler is a UK-based identity and payments technology company which allows consumers to identify themselves and pay using just their finger at retail points of sale.
Blue Star invested GBP50,000 in the business in June 2015 for a 1.45% stake in the company. Following the latest fundraising, Blue Star holds a 1.27% stake in Sthaler, valued at GBP108,700.
"We continue to believe that Sthaler has the potential to play an important part in the payments world. This latest fund raise has been very well received, and we expect to see continued progress as Sthaler's management work to maximise the company's potential," said Blue Star Chairman Graham Parr.
Shares in Blue Star were up 10% on Tuesday to 0.165 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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