Lottery and praise draw operator Good Life Plus PLC on Monday said it has raised GBP2.0 million, and will use the proceeds to drive further organic growth and subscription numbers.

Good Life said it has raised GBP2.0 million through a subscription of 90.2 million shares priced at 2.25 pence each.

Shares in Good Life, an AQSE-listed luxury prize draw and rewards provider, were up 6.7% at 2.00p each in London on Monday afternoon.

The proceeds of the subscription will be used principally for investing in the company’s operations, with a focus on marketing initiatives to drive further organic growth and subscription numbers, as well as in general working capital.

Chief Executive Charlie Chadd said: “This investment significantly boosts our capacity for growth, targeting an increase in subscriber base, reduction in churn, and a rise in average revenue per customer. It enables strategic enhancements in our operations, fostering more partnerships and pioneering new reward and incentive models.”