It’s a big day here at Flick. We’ve just announced that we’ve completed our first growth capital round (it was over-subscribed), having secured $4.8m in total from investors to accelerate customer acquisition and product development. Hooray!
What this means is that we can move faster to create all sorts of new tools to help more Flicksters get the best out of being with us – giving New Zealanders more control and more opportunities to save.
We deliberately went after external investors who could add more than just cash. Like Evander Management, who tested every part of our business plan in the due diligence process. While folks like Phil McCaw and Jenny Morel bring invaluable enterprise growth experience. And we’re bowled over to have the largest group of Angel HQ members ever to invest in a single deal.
Steve O’Connor, our Chief Flickster says “We’re delighted to welcome such seriously smart investors to the Flick family. The companies and individuals involved have deep expertise and high expectations, so it’s a great vote of confidence in what the founders have achieved so far. The new capital will allow us to achieve our growth targets faster.”
And Marcel van den Assum, Chair of our Board, reckons the successful round will provide a strong platform for our future capital strategy. “The New Zealand investment community is hungry for opportunities that combine market disruption potential with actual operational capability. The Flick founders have done an exceptional job in creating a real business that is already providing a radically different experience for customers.”
Here’s what the NBR has to say about the deal (paid).