Digital marketing company Xamble Group (ASX:XGL) secured an invoice factoring facility worth up to 3 million ringgit from Malaysia Debt Ventures Berhad, according to a Wednesday filing with the Australian Securities Exchange.
The company plans to use the facility to provide early payments to creators of social media content, charging a 5% fee for a two-month financing period.
The company anticipates implementation of the initiative in the first quarter of 2025, the filing said.
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