PASS Technology Group Limited ("PASS" or the "Company"), the background checking and regulatory technology group, is pleased to announce the completion of a GBP3.25 million round of financing in order to accelerate the Company's growth plans.
The Company has raised the GBP3.25 million from existing shareholders to enable further investment in the PASS team and to facilitate expansion. The GBP3.25 million investment brings the total amount invested in PASS over the past three years to GBP9.5 million.
Specifically, the new funds will be used to expand the PASS team, facilitate new product developments and to enable the further geographic expansion of the PASS business, which may include one or more acquisitions that are currently under consideration.
As part of these plans, PASS has appointed Jack Teague to the position of Chief Operating Officer. Previously brought on board as Director of Strategic Projects, Jack's new role will see him actively involved in day-to-day operations.
