China focused lottery and payment processing firm DJI Holdings has raised GBP 11.5 million (US$15.1 million) in its third placing in three months to fuel its move into China’s huge mobile payments market.
“DJI will not only benefit from a significant proportion of its shareholder base now being held by leading funds, but this capital will enable the Group to accelerate further its repositioning as an internet technology provider with a secure, versatile platform and rapidly expanding databases.”
Now valued at GBP 230 million, DJI is eyeing “additional contracts with significant potential” following its April deal to support the Xinhua News Agency’s utility payments app.
CEO Darren Mercer says the app deal, which is targeting 300 million Chinese users, is presenting more tie-ups for DJI.
“Our discussions with potential partners are now well ahead of where we had envisaged only a few weeks ago, he said.