VC-backed Vogogo raises $8.5 mln for going public transaction

Redfall Technologies Inc, which is also known as Vogogo, has raised gross proceeds of $8.5 million from a brokered and non-brokered private placement of 11.3 million in subscription receipts. The funding transaction is linked with Vogogo's previously announced plans to amalgamate with capital pool company Southtech Capital Corp (TSX-V: STU.P) under the issuing name Vogogo Inc. The Calgary-based Vogogo is a provider of comprehensive risk management, security, compliance and payment services to the cryptocurrency industry. It has been a portfolio company of Canadian early-stage venture capital firm AVAC since 2013.

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