White Label Personal Clouds raises $200K with a Convertible Note

White Label Personal Clouds (WLPC) has raised $200K with a convertible note loan from existing shareholders.  The convertible note is backed by the anticipated R&D rebate due at the beginning of the 2015-16 financial year. The funds will be used to continue development of WelcomeAboard the online service to help ensure employers comply with the Fair Work Act while reducing the cost of gathering and supplying information to employees.

The Convertible Note Deed Signing took place at Entry29 on Friday 8th May.  Pictured at the signing are Hugh Crawford and Kevin Cox, two of the participating shareholders.

Signing Convertible Note Deed2

WLPC will be seeking further equity funds in June to speed up the commercialisation of WelcomeAboard.