- Rubean receives €3.4 million
Munich, April 27, 2022: Rubean AG, Munich, (ISIN: DE0005120802, WKN: 512080) and CYCLEBIT GROUP LTD (“CYCLEBIT”), Limassol/Cyprus, a fintech company in the payment sector, have today signed a binding agreement for the subscription of a convertible loan by CYCLEBIT. As a result, Rubean will receive funds amounting to €3.4 million, while CYCLEBIT will have the right to convert the loan into 271,750 Rubean shares. If not converted, the loan will run for two years and will be subject to an annual interest rate of 3.0 percent. Rubean’s extraordinary general meeting approved the convertible loan and the necessary conditional capital of ten percent of the currently existing share capital, corresponding to the 271,750 shares, on March 18, 2022.
The two companies are currently exploring the possibility of further collaboration.
About Cyclebit Group:
Founded in 2012, Cyclebit Group is a global payment and SaaS provider. Core products include card acquiring, point-of-sale (POS) services, and marketplace solutions. The company recently introduced crypto and softPOS offerings, both billion-dollar industries in which the company already holds a leading position in selected markets. In 2019, the company reached break-even and is currently growing profitably at an exponential rate.
About Rubean:
Rubean AG is an established software manufacturer in the financial sector with 20 years of experience. The company is now growing with the development of innovative solutions for mobile payments. This includes the mobile point-of-sale terminal solution PhonePOS, which was developed in collaboration with CCV. Rubean is listed on the m:access of the Munich Stock Exchange, as well as on the Frankfurt, Berlin, and Düsseldorf exchanges, and on Tradegate and Quotrix.
