Singapore based mPOS service provider has raised a $2m Series Seed financing led by M1 Limited. The company's Octopus Retail Solution uses smart devices to manage customer orders, payments, inventory and for reporting.
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Singapore: M1 makes $2m investment in mPOS service provider Eleos
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According to a filing the acquisition was arrived at following arms’ length negotiations and taking into account ORM’s assets, intellectual property, financial position and business prospects. This acquisition will be funded internally by cash, and is not expected to have a material effect on the net assets or earnings per share of the M1 Group for the financial year ending December 2016.
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