Cyber safety company Qoria Limited boosted by A$30 million debt facility from AshGrove Capital

Thomson Geer is advising listed Australian technology company Qoria Limited (ASX:QOR) on a A$30 million debt facility provided by London-based debt provider AshGrove Capital.

Qoria (formerly Family Zone Cyber Safety Limited) is the only global provider of digital safety and student wellbeing solutions. Qoria's innovative integrated suite of best-in-class tools supports the needs of both schools and parents and enables a unique collaboration between them.

AshGrove is a global debt provider specialising in software and services growth companies. It provides tailored credit solutions for a range of transactions from organic and inorganic growth financing to buyouts, supporting a variety of shareholders including private equity, growth equity, VCs and founder-entrepreneurs.

The debt facility allows Qoria to consolidate its balance sheet, manage repayment of convertible notes and provides flexibility to invest in organic growth initiatives, cost out measures and/or acquisitions.

The Thomson Geer team was led by Partners Hedley Roost and Nicholas Creed who were supported by Special Counsel Elize Conway, Associates Lawrence Ward and David Thomas, and Lawyers Steven Boughton and Richard Gamayunov.

"We are pleased to act for our valued client Qoria on its first substantial debt raising. The transaction is transformational for the company as it focuses on its strategic growth initiatives and delivering positive operating cash flow," said Hedley.  

Due to the global nature of Qoria's business, the transaction required extensive coordination and collaboration across a range of jurisdictions. The Thomson Geer team worked with Macfarlanes in the UK, Uría Menéndez in Spain, Gibson Dunn in the United States and Anderson Lloyd in New Zealand.

Azure Capital acted as financial advisers to Qoria.

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