• Secures $2.5M loan facility with Partners for Growth VII, L.P.
• Facility to support growth strategy, including NMIS Cloud rollout and Open-AudIT monetization
• 96% of FY25 revenues were recurring, providing strong base for growth

FirstWave Cloud Technology Limited (ASX: FCT) has announced that it has secured a $2.5 million loan facility with global credit investor Partners for Growth VII, L.P. (PFG). The facility will strengthen FirstWave's access to growth capital following a recent $2.85M equity raise. The company believes the facility will provide flexibility to execute on its growth strategy, which includes the rollout of NMIS Cloud with Telmex, opening up a pathway to more than $15M in annual recurring revenue, with scope to extend across additional América Móvil group companies and other organisations. Additionally, the facility will support the conversion of the 150,000+ organisations using Open-AudIT into paying subscribers through the introduction of new AI compliance features, representing a $30M+ ARR opportunity. The facility will also enable FirstWave to broaden its market reach via global distribution arrangements with AWS and Ingram Micro, providing access to over 170 countries and a network of 200,000+ partners and resellers. Importantly, the facility will fully repay the existing Fenja Capital convertible note, which has reached maturity. FirstWave's Managing Director and CEO, Danny Maher, stated that the successful equity raising and new loan facility demonstrate market confidence in the company's strategy, with lenders conducting thorough due diligence on the company's plans and financial standing before lending.

The company is ready to execute on its growth strategy by leveraging AI to unlock two clear annual recurring revenue opportunities -- the monetisation of its Open-AudIT 150,000 organisation user base and the NMIS Cloud opportunity with Telmex.