Ireland-based VAS enabler gets cash from Ulster Bank Diageo Venture Fund.
It says the funds will be used to develop a suite of smartphone apps, fund geographic expansion and reduce grow debt by €1m.zamano is now putting in place a dedicated smartphone apps team.
John O’Shea, CEO of zamano, said: “The placing will put zamano in a strong position as we enter 2010, with a strengthened balance sheet and the capacity to execute our strategy in an exciting new market for the group.
“We look forward to working with The Ulster Bank Diageo Venture Fund, and our existing supportive shareholders, to take the Group to the next stage of its development.”
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