Onfolio Holdings receives $4.75M in investment proceeds

Onfolio Holdings Inc. (NASDAQ: ONFO) announced it received $4.75 million in investment proceeds under a previously announced financing agreement, according to a company press release.

The company allocated approximately $2.35 million toward business growth initiatives, debt repayment and working capital. The remaining $2.4 million will be used to purchase Bitcoin, Ethereum and Solana as part of a digital asset treasury strategy.

Onfolio expects to complete the cryptocurrency purchases over the coming weeks. The company currently generates over $12 million in annualized revenue from its portfolio of online businesses.

"We're going to use this capital to increase our cashflow via interest payment reductions, and injecting growth capital into the operating portfolio," said CEO Dom Wells in the release.

The debt repayment using a portion of the proceeds is expected to reduce interest obligations and improve cash flow, according to the company. Onfolio operates profitable online businesses across marketing, education and e-commerce verticals.

Wells noted that starting the digital asset treasury when cryptocurrency prices have declined from previous highs presents an opportunity for the company.

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