Community Corner

Global Shares pot grows by €1.65m 

GLOBAL SHARES plc, which helps set up and administer employee shares schemes, has raised €1.65m in a fresh fundraising round.

The investors include the chairman Richard Hayes, a former chief executive of IFG; Brian McCarthy, the Fexco founder; and Ron Bolger, a former managing partner at KPMG. The biggest contributor to the fundraising was David Raethorne, a serial technology entrepreneur.

Global Shares, which is based in Clonakilty in west Cork, posted sales of $5.3m (€4m) in 2013, an increase of 14.2% on the previous year, and made profits of $140,000. Recurring income from its “high quality client base” rose 25% to $4.5m.

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