GFNZ Group raises $1.66 million

GFNZ Group raises $1.66 million
Jan 30 (BusinessDesk) - GFNZ Group, the former Geneva Finance, has raised $1.66 million from eight professional investors, two of whom are directors. The NZAX-listed automotive industry financier placed $2.075 million of new business receivables into Prime Asset Trust and used this as security to raise the money. In August, it placed $3.3 million of new business receivables into the trust as security to raise $3 million of new debt funding from its cornerstone investor, Federal Pacific Group. GFNZ says the trust is an independent financing s...