Sitoa Global, an e-commerce solutions and service provider, has secured an investment from Ingenium Capital, a European based private equity firm.
The funds will be used to continue the company’s expansion into the growing social e-commerce segment.
Ingenium Capital invested USD500,000 in a private placement at a price of USD0.15 per share and has an option to invest an additional USD300,000 at a price of USD0.30 per share.
"Given the recent public company offerings in social media and specialised Software as a Service, we believe that now is an appropriate time to raise expansion capital and we welcome this investment from Ingenium Capital," says George Yu, Sitoa’s president and chief executive.
