Pires Investment invests further £35,000 into Low6
Pires bought 6,667 shares in Low6 in December of 2020, which amounted to about £200,010. After this came the closure of Low6’s pre-IPO round, which instantly brought in £3.3 million in convertible notes.
Pires Investment Chairman Peter Redmond said:
We are very pleased to announce this further investment in Low6, as part of an extension of the company’s recent pre-IPO funding round. As the platform’s users continue to rapidly increase, this additional funding should provide Low6 with the capital to scale the business at an even quicker pace ahead of its IPO, intended for Q2 2021. We look forward to providing further updates on this investment in due course.
All funds from the extension are set to be put into offering more working capital to the company since it is currently working on expanding its user base. A large portion of Low6’s growth has been credited to its various deals with influencers such as The United Stand TV, Arsenal Fan TV and True Geordie. Many of these partnerships have aided in the growth boost, mainly in the GenZ and millennial groups. In February of 2021, the investment firm also said that Low6 is ‘on track’ regarding its IPO.