CloudCall fundraising of £7.5m via placing

National law firm Freeths, has advised CloudCall Group plc on its latest fundraising of £7.5 million via conditional placing of shares and a retail offer conducted by PrimaryBid Limited.

AIM-listed CloudCall Group plc is a cloud-based software business with offices in the UK, USA, Australia and Belarus. Its suite of software products span voice, SMS, instant messaging, desktop and mobile, allowing companies to integrate telephony and messaging capabilities into their existing CRM software.

The proceeds of the placing will be used to strengthen the company’s balance sheet and fund working capital.

Freeths Corporate Partner Jeremy Swift, advised CloudCall on this latest fundraise, alongside Senior Associate Henrietta Rendell with assistance from trainee solicitor Shivani Fakey.

Jeremy Swift said: “We’re proud to support CloudCall as they continue to develop and expand their business into new areas. Such is the success of the business and the support that it enjoys amongst its shareholders, it was oversubscribed in still challenging times.”

Simon Cleaver, CEO of CloudCall Group plc said: “We are grateful to Jeremy and the team for their strategic advice and in-depth sector knowledge. We look forward to accelerating the business forward and continuing our successful relationship with Freeths.”