Marley Spoon secures funding from Woolworths

26SepSeptember 26, 2019

Marley Spoon secures funding from Woolworths

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Meal kit provider Marley Spoon (ASX:MMM) has approved structured debt transactions with two of its existing investors, amounting to $8 million in aggregate.

Supermarket giant Woolworths (ASX:WOW) will loan Marley Spoon $4 million.

US based venture capital firm Union Square Ventures will also loan $4 million.

The company entered into a $30 million strategic partnership with Woolworths in June.

Shares in Marley Spoon (ASX:MMM) closed -1.1 per cent lower at $0.45 yesterday.

Copyright 2019 – Finance News Network

Source: Finance News Network

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