Gratifii Limited announced that it has signed a 3-year contract with key client RACV to deploy its SaaS platform with an expanded range of rewards. The contract contains options to renew for a further 2 terms of 3 years. eat Ideas, Gratifii's rewards business, has been an existing rewards platform provider to RACV's 2.1 million members for more than 10 years.

Under the new contract, Gratifii expects to receive an annual licence fee of up to $360,000 with an expected 12-month inflow of $6 million from RACV and its affiliates (estimates based on prior 12 month's volumes provided by RACV) and $2.5 million in cross-sell revenue. With this additional revenue the Company is confident it will deliver positive cashflows within FY24 from the expanded rewards and services products offered. To accelerate further growth and the deployment of Gratifii's SaaS platform, as well as other initiatives, the Company is undertaking an equity raising.