The company employed about 43 people at the end of 2017. Its operating loss was €3.1m in 2017, but it also incurred a €5.3m net interest expense on top of that. It was all generated in the United States. Turnover for the year was €3.2m, which was just more than double that generated in 2016. The 2017 accounts for Rapt Holdings show that it made an €8.5m loss that year. Mr Desmond is also an equity investor in the business, alongside other backers including Enterprise Ireland, M3 Ventures, Cyprus Venture Fund and the Ulster Bank Diageo Venture Fund. Its technology is primarily aimed at corporate and education sectors. Rapt was founded in 2008 and develops software that provides enhanced touchscreen capabilities.
Mr McCarthy was also uncontactable yesterday. Bottin has appointed Shane McCarthy of KPMG as receiver and manager of Rapt Neither Mr Giblin nor Rapt co-founder Owen Drumm were contactable yesterday. No accounts have been filed by the firm at the Companies Registration Office since then. The latest set of publicly available accounts for Rapt Holdings show it had racked up losses of €34.7m by the end of 2017.
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