FirstWave Cloud Technology secured a $2.5 million convertible note agreement with Formue Nord, a Danish asset management firm.

The deal, with a conversion price of 3.6 cents, boosts FirstWave's working capital, supporting expansion into Latin and North American markets.

The agreement positions FirstWave with $5 million in total working capital.

Formue Nord's investment, its first in an Australian entity, signifies a strategic partnership to leverage FirstWave's potential in global network management and cybersecurity.