Chairman fuels $8m capital turbo boost as Ovanti’s US BNPL hits NASCAR track

• Ovanti secures firm commitments from institutional, professional, and sophisticated investors for a placement raising $8 million
• Executive chairman Daler Fayziev reaffirms his confidence in the company’s US BNPL business by investing $3 million in capital raise
• Ovanti’s US BNPL business inks three-year sponsorship deal with Speedway Motorsports, providing national brand exposure

Special Report: Fintech Ovanti will raise $8 million in a placement with a $3m investment from chairman Daler Fayziev, while its US BNPL business secures a three-year NASCAR sponsorship with Speedway Motorsports (Speedway GLOBE LLC).

Ovanti (ASX:OVT) said the placement of ~1.23 billion shares at $0.0065 each had raised a total of $8 million, attracted strong support from institutional, professional, and sophisticated investors, and highlighted growing confidence in its North American expansion.

The issue price under the placement represents a 7.1% discount to the last traded price of $0.007 on October 3 and a 19.8% discount to the 15-day volume weighted average price (VWAP).

Fayziev has reaffirmed his confidence in the company’s US buy now, pay later (BNPL) business by investing a further $3m through its latest capital raise.

The two-tranche placement will fund the continued operation and growth of OVT’s US BNPL business, including new strategic partnerships, merchant agreements, working capital, and legal expenses.

In tranche one ~770 million shares worth $5m will be issued to non-related institutional, professional and sophisticated investors on or around 14 October 2025.

Subject to shareholder approval, ~460 million shares worth $3m will be issued to the Finran Special Opportunities Fund, which is controlled by Fayziev.

The placement was completed by joint lead managers Clee Capital and Evolution Capital, which will receive 6% (plus GST) fee on funds raised.

Speeding ahead with partnership deals

In further good news for OVT, its US BNPL business has also inked a three-year sponsorship deal with Speedway GLOBE, LLC, providing national brand exposure and promotional rights across its e-commerce and event platforms.

Speedway Motorsports is the host of 11 premier motorsports properties and radio broadcaster for NASCAR events that turn over millions of spectators and television viewers annually.

The partnership is underpinned by widespread sponsorship distribution, where OVT is designated as the key sponsor of the NASCAR Craftsman Truck Series to be broadcast on Fox Sports in the US starting in May 2026.

Ovanti will be the official e-commerce and BNPL partner of Speedway Motorsports, which will advertise the company across print, radio, television, social media, and digital advertisements in the US in connection with the sponsored NASCAR events.

‘Formidable presence and disruptor in the North American BNPL market’

Fayziev said he was confident of the future growth prospects of Ovanti in the US BNPL market under the leadership of new CEO Peter Maher, and was prepared to add to his already significant shareholding.

Maher served as the USA head of enterprise merchant partnerships at Zip Co Limited (ASX:ZIP) and previously was senior director of high growth at the company.

“Peter Maher continues to assemble a leading management team which has received extremely strong feedback from prospective major partners and merchants,” Fayziev said.

He said the strength of Ovanti’s BNPL offering is evidenced by the partnerships with Speedway Motorsports and NYSE-listed Shift4 Payments Inc, which was announced in August.

“Further, the capital raise puts Ovanti in a strong position to continue to sign major partnership and merchant agreements as we continue to roll-out BNPL operations in the USA,” he said.

“In addition to my ongoing support of the business through this capital raise, I do note the participation of new institutional investors in this capital raise and welcome them to Ovanti’s share register.”

This article was developed in collaboration with Ovanti, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.