Smarter Web Company Raises £2.2m, Cuts Coinbase Loan Amid Bitcoin-Focused Strategy

The Smarter Web Company has secured a significant funding boost, raising £2.2m through the sale of 2,883,000 ordinary shares. The company will receive around 98.25% of the gross proceeds, which will be used to execute its growth strategy and Bitcoin-focused treasury approach.

The sale also includes a reduction in the company's strategic credit facility with Coinbase, which will be repaid at the company's discretion. The outstanding balance will decrease from approximately £19m to £17m, while the loan remains secured against the company's existing Bitcoin holdings.

The move reflects the company's capital allocation discipline, slightly de-levering its balance sheet and potentially improving financial flexibility. However, it also leaves shareholders exposed to Bitcoin price movements under the firm's high-risk treasury policy.