- Rubean has received €3.4 million
Munich, June 20, 2022: CYCLEBIT GROUP LTD (“CYCLEBIT”), Limassol/Cyprus, a fintech company in the payment sector, has disbursed the convertible loan approved by an extraordinary general meeting in March of this year to Rubean AG (ISIN: DE0005120802, WKN: 512080), Munich. In total, Rubean has received €3.4 million.
In return, CYCLEBIT has 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. The two companies are now exploring the possibility of extensive collaboration as agreed.
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.
