ZAPMAP LIMITED announced that it has issued secured convertible debt for gross proceeds of £1.7 million on June 12, 2024. The transaction included participation from returning investor, Good Energy Group PLC. The convertible loan note accrue interest at 10% per annum.

The note can convert the loan to equity at a material discount at the earlier of: a sale of the business, subsequent funding rounds, or on or after 31 January 2025.