Blue Star Capital Plc (LON:BLU) have today announced that one of its investee companies Sthaler Limited (“Sthaler”) has successfully raised £3million at a pre-new money valuation of £20 million. This represents a significant uplift to the post-new money value of Sthaler of approximately £9.4 million in January 2017 when Sthaler last raised capital. Blue Star invested £50,000 into Sthaler in June 2015 as part of a total raise by Sthaler of £450,000 with a post money valuation at that time of £3.4 million.
Sthaler is an identity and payments technology business which enables a consumer to identify themselves and pay using just their finger at retail points of sale.
The Company has to date invested £50,000 in Sthaler. This latest round of investment in Sthaler values the Company’s stake of 1 per cent. at £227,000.
Sthaler is a UK based technology business that has jointly developed Fingopay in conjunction with Hitachi. Fingopay uses a unique finger vein ID process which is considered to be more secure than finger print readers and faster than chip and pin operations. The technology is widely adopted in Japan and it is Sthaler’s aim to commercialise the technology in the area of payments globally.
Tony Fabrizi CEO of Blue Star Capital Plc commented: “We are pleased to see Sthaler is continuing to attract investment and we look forward to Stahler announcing further customers over the coming months.”
