25th Jul 2016 08:14
LONDON (Alliance News) - Proximity marketing firm Proxama PLC on Monday said it has continued to make progress and expects to announce a fundraising imminently which will back its future growth.
Chairman David Bailey, speaking ahead of the company's annual general meeting, said Proxama is set to confirm its fundraising imminently, having announced plans to raise up to GBP2.0 million in late June. The funds will allow the group to back the growth of its marketing unit and develop its digital payments arm.
Proxama said it has continued to build out its beacon network. It has now beacon-enabled 400 pubs and bars across London and 200 within close proximity to all 20 Premier League football clubs across Britain. It has also installed beacons at Heathrow Airport and in key tourist destinations across the capital. The beacons deliver location-specific advertising to mobile phones.
The firm said it has been generating revenue through mobile advertising campaigns and has made progress in its digital payments division.
Proxama also said it has signed a partnership with PubMatic, a sell-side advertising platform, through which Proxama will use PubMatic marketplace to provide advertisers details on the premium advertising inventory available.
Shares in Proxama were up 6.7% to 0.40 pence Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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