Testbusters receives €1.2m capital increase from Smart Capital
The completed capital increase forms part of a €1.5m minority investment, with a separate €300,000 purchase of existing shares expected by late November.
Growth capital within a wider minority investment
Smart Capital has completed a €1.2 million capital increase in Testbusters. The financing is part of the approximately €1.5 million minority investment first announced on 5 October under a binding agreement signed the previous day.
A 28 October update said the capital increase had been completed on 27 October. The remaining €300,000 component is a purchase of existing shares expected to close by the end of November. Smart Capital’s general manager Andrea Faraggiana is to join Testbusters’ board.
Expanding the education group
Testbusters plans further targeted acquisitions to broaden its courses and services across a student’s education journey. It has already acquired UniAdmissions, focused on Oxford and Cambridge admissions, and TopSquad, which prepares students for Bocconi entrance tests. The new capital supports that expansion strategy.
Use of funds
Expand education offering through targeted acquisitions