IOUpay Limited announced a private placement of common shares for the gross proceeds of AUD 700,000 and convertible note for the gross proceeds of AUD 300,000; for aggregate total gross proceeds of AUD 1 million on August 31, 2023. The transaction included participation from new investor Finran Pty Ltd for AUD 700,000 and individual investor Brett Patridge for AUD 300,000. The transaction has been approved by the board of directors of the company and is subject to approval of an Extraordinary General Meeting of Shareholders.