eServGlobal Share News (ESG)

(Sharecast News) - Digital transactions technology outfit eServGlobal updated investors on its HomeSend joint-venture with MasterCard and BICS on Thursday, bringing the market up-to-date on the project's status since the firm's successful £19m fundraiser back in September.MasterCard proposed a €50m capital raise back in September, which was approved by the HomeSend board at the time. However, since that time, eServGlobal noted there had been "further discussions on the optimal quantum of funds to be raised" - which is now expected to total €47m.The pair decided a first tranche funding of approximately €6.1m for HomeSend's initial capability investments and working capital purposes will be made before the new year, while conversations regarding the remaining €41m were still ongoing.The AIM-listed firm said HomeSend, which connects the world by way of a network which enables financial institutions to transfer funds between each other in a safe, convenient and cost-effective way, was "progressing well" and noted that average transaction values had recently shown a marked improvement as a result of newer B2B volumes."Since the eServGlobal fundraise a further number of banks have also successfully conducted initial live transactions on the HS platform, although volumes will only follow according to each bank's own commercial priorities and arrangements," added eServGlobal.As of 1200 GMT, eServ shares had picked up 3.68% to 5.78p.