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Hertford International Group

  • BY: Andrew Hore |
  • POSTED: 31/12/2007 |

Pre-paid debit cards marketer Hertford International Group joined Aim on 24 December. 

Hertford raised £2m (£1.67m net) at 20p a share. That valued the company at £8.53m.

The company sells a two card pack. There is a primary card that can be loaded at a high street bank or funds can be transferred from a debit card. Cash can then be transferred from the primary card to the secondary card and both can be used in shops, restaurants or online. The cash the company raised will be used to finance the development of its sales distribution network. The target market is migrant workers in the UK, which remit £2.3bn each year from the UK.

Hertford bought CrewCard Network Ltd in November 2007. It lost £1.34m on turnover of £453 in the period to September 2007.

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