The second round of financing will be used to develop operations in the US and the UK. The Fool is also negotiating a venture in Japan.
Barclays Private Equity has closed its second deal in a week with the management buy-out of UK-based delivery company Nightfreight.
The latest stage in this long-running saga sees the company making a $1.46 charge per share as a result of writing off $30m from its FLV Fund Korea. It still expects to recoup the capital in a court case.
The retail financial services provider was previously owned by Ventura, a subsidiary of Next. Management takes a 10 per cent stake.