Xero raises $180M selling shares at premium to Matrix, Thiel, others

Sun, 13 Oct 2013

Oct. 14 (BusinessDesk) – Xero, the cloud-based accounting company whose shares have more than doubled this year, raised $180 million selling shares to Matrix Capital Management, Peter Thiel-backed Valar Ventures and other US investors to ensure it can keep bankrolling its expansion. The Wellington-based company sold 9.92 million shares at $18.15 apiece, a 1.1 percent premium to their price last week before being halted for the capital raising. The new funds more than quadruple the cash buffer Xero has to fund sales growth as it chases 1 milli...

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