Kewill Systems Plc, the Surrey, UK supply chain management software company, has raised 38.6m pounds ($62.5m) through a placing of shares to invest in the development and marketing of its business portal. Chief executive Geoffrey Finlay argued that the company needed to accelerate its investment program to fully-exploit emerging e-commerce opportunities.
The company has already announced plans to spend an extra 6.3m pounds ($10.2m) in developing its e-commerce products, especially following Federal Express’ decision to use its technology as a platform for shipper system tools and back-office integration.
Kewill says it also needs to invest in developing and marketing products that provide global import/export compliance to small businesses carrying out international shipments. Extra money is also earmarked for Europe, to expand sales and develop products so Kewill can expand its presence in the multi-carrier compliance software market.
