One Click Group (ASX:1CG) has received firm commitments to raise nearly AU$1.3 million through a placement of 125 million shares at AU$0.01 each to sophisticated and institutional investors, according to a Tuesday filing with the Australian bourse.

The funds will support the company's ongoing growth strategy, including the accelerated rollout of the new little money cash advance product and the provision of additional working capital, the filing said.

The placement is expected to be completed by Oct. 10, the filing added.