Acquisition of iRich Finance Pty Ltd

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Stock Victor Group Holdings Ltd (VIG.ASX)
Release Time 5 Jun 2025, 2:49 p.m.
Price Sensitive Yes
 Victor Group Acquires 15% Stake in iRich Finance
Key Points
  • Victor Group to acquire 15% stake in fintech provider iRich Finance
  • Acquisition to strengthen Victor Group's platform-as-a-service (PaaS) and software-as-a-service (SaaS) offerings
  • Transaction subject to shareholder and regulatory approvals
Full Summary

Victor Group Holdings Ltd has announced that it has entered into an agreement with iRich Finance Pty Ltd (iRich) and its shareholders to acquire a 15% legal and beneficial interest in iRich. iRich is a licensed fintech service provider incorporated in Australia, offering an integrated suite of financial technology products and services, including digital wallet and card issuing solutions, an online shopping mall with merchant marketing tools, and physical gold trading and settlement services. The acquisition is structured to preserve Victor Group's operational independence and does not involve board representation, joint operations, or day-to-day management participation in iRich. The transaction is subject to standard conditions precedent, including the completion of due diligence, shareholder approval, and any necessary regulatory approvals. This investment is strategically aligned with Victor Group's existing platform-as-a-service (PaaS) and software-as-a-service (SaaS) offerings, as iRich's financial technology infrastructure provides an opportunity for Victor Group to deliver its software solutions as a service provider, reinforcing rather than altering its existing commercial model.