REFFIND completes $2 million capital raising after appointing new CEO

Published at Dec 7, 2017, in Technology

Sydney-based Software as a Service (SaaS) solutions provider, REFFIND Limited (ASX:RFN), this morning announced that it has successfully raised $2,004,750 in a placement to new and existing investors. RFN plan to use the funds for additional working capital and technology investment.

RFN has a product focus on enterprise to employee solutions including rewards, loyalty and recognition, employee communication and engagement.

Its key WooBoard product offering is aimed at meeting growing enterprise demand to provide employees and potential customers with rewards and recognition to drive loyalty and key behavioural objectives. It has built its growth to date through both organic growth and acquisition.

reffind limited offer

Source: REFFIND Limited

The company will issue 82,500,000 ordinary shares at 2.43 cents per share. Funds from the placement are expected to be received on 8 December 2017 with an expected quotation date for the new shares of 11 December 2017. The shares were issued as a placement to sophisticated and professional investors as RFN consider that to be the most expedient way to raise funds quickly.

Back in June, RFN offered shareholders an equity participation opportunity, where $118,010 was raised from $400,000 available.

Overall this is an early stage play and as such any investment decision should be made with caution and professional financial advice should be sought.

News of the capital raising follows an announcement last week that RFN had appointed a new Chief Executive Officer. Blockchain industry leader Tim Lea accepted the role of CEO, effective 1 December 2017.

Lea brings 20 years of senior executive and corporate leadership experience to RFN with a focus on banking and commercial finance in the UK and Australia with GE Capital, HSBC and Lloyds Bank followed by hands-on experience building web and blockchain based solutions in Australia and key international markets.

Lea is ideally suited to help RFN execute on its strategic growth plan through expansion of its existing enterprise customer base and acceleration of new customer growth through further development of its WooBoard platform, supported by investment in synergistic blockchain based technology.

Lea is also a director of film and digital media based blockchain platform Veredictum which he helped establish using the immutable providence properties of blockchain to help solve the $20 billion film piracy problem, enable video content producers to protect their copyright and to track derivatives of their content as they are uploaded to major video platforms.

View Our Investment Portfolios



S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!