Fintech Douugh poised for ASX debut after $6m capital raising

Shares in Douugh could begin trading on the ASX in two weeks after the fintech closed its $6m capital raising on Thursday.

The company is listing via a reverse takeover of Ziptel (ASX:ZIP).

The buildbook for the raising was multiple times in excess of the $6m maximum, Douugh says.

Chief executive Andy Taylor, the co-founder of privately owned peer-to-peer lending platform SocietyOne, founded Douugh in 2017 and describes it as a wealth management and financial wellness platform.

“We typically get labelled as a neobank, but we’re not,” he told Stockhead.

Douugh plans to launch before Christmas in the United States, where the banking industry is “pretty archaic” and still adopting digital payments, making it ripe for disruption, Taylor said.

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Source: Fintech Douugh poised for ASX debut after $6m capital raising – Stockhead