Ovanti Raises $8M at $0.0065 to Expand US BNPL and Sponsor NASCAR

Capital Raise to Accelerate US BNPL Ambitions

Ovanti Limited (ASX, OVT) has successfully completed a capital raise of $8 million through a placement of over 1.23 billion shares priced at $0.0065 each. The funds are earmarked to fuel the expansion of its Buy Now, Pay Later (BNPL) operations in the United States, a market that continues to attract fintech innovators aiming to disrupt traditional payment methods.

The placement, managed by joint lead managers Clee Capital and Evolution Capital, is structured in two tranches. The first tranche, raising $5 million, targets institutional and sophisticated investors and is expected to settle mid-October. The second tranche, raising $3 million, involves related parties including Executive Chairman Daler Fayziev, whose personal $3 million investment underscores his confidence in Ovanti’s US strategy. This tranche awaits shareholder approval, adding a layer of governance scrutiny to the process.

Strategic NASCAR Sponsorship Boosts Brand Visibility

In a move that signals Ovanti’s ambition to build brand recognition in the competitive US market, the company has secured a three-year sponsorship agreement with Speedway Motorsports. This partnership designates Ovanti as the official e-commerce and BNPL partner for the NASCAR Craftsman Truck Series, broadcast on Fox Sports starting May 2026.

Speedway Motorsports hosts 11 premier motorsports venues and commands a vast audience through live events and media broadcasts, offering Ovanti national exposure across multiple channels including print, radio, television, and digital platforms. This sponsorship is more than a marketing exercise; it positions Ovanti at the heart of a passionate consumer base, potentially accelerating merchant and partner engagement.

Leadership Confidence and Market Positioning

Executive Chairman Daler Fayziev’s decision to invest an additional $3 million alongside new institutional investors reflects strong insider belief in the company’s trajectory. Fayziev highlighted the leadership of CEO Peter Maher and the assembling of a robust management team as key drivers behind Ovanti’s growing momentum in North America.

Ovanti’s recent partnerships, including the earlier announced collaboration with Shift4 Payments, complement the Speedway deal and collectively enhance the company’s footprint in the US BNPL sector. The capital injection is expected to underpin further strategic partnerships and merchant agreements, as well as cover operational and legal costs associated with the expansion.

Market Implications and Next Steps

The placement shares were issued at a discount to recent trading prices, a common approach to incentivize investor participation in capital raises. The involvement of both new institutional investors and related parties suggests a balanced approach to funding growth while maintaining shareholder alignment.

Looking ahead, the market will be watching closely for shareholder approval of the second tranche and the execution of the Speedway sponsorship. Ovanti’s ability to leverage these partnerships into tangible revenue growth and market share gains will be critical in validating its US expansion strategy.