Business

Freight startup Ofload acquires Melbourne veteran CIA Logistics

- September 27, 2022 2 MIN READ

Sydney logistics software startup Ofload has acquired Melbourne freight specialist CIA Logistics in its first deal to expand nationally. Founded in 2020 with a focus on cutting inefficiencies in the trucking industry and reducing its environmental impact, this is Ofload’s first acquisition, taking its headcount to more than 120 employees in Sydney, Melbourne and Brisbane,.… Read more »

ASX

Genex Power rejects Atlassian founder’s $320 million takeover bid as undervaluing the renewable energy company

- August 1, 2022 2 MIN READ

The board of ASX-listed Genex Power Limited (ASX: GNX) have rejected a takeover bid by Altassian co-founder Scott Farquhar as undervaluing the business. Last Monday, after building up a 19.9% stake in Genex via a consortium controlled by Skip Capital, the family VC run by Farquhar’s wife Kim Jackson, in a partnership with US alternative… Read more »

Fintech

Fintechs Monoova and Moneytech FX have merged

- July 12, 2022 < 1 MIN READ

B2B payments automation provider Monoova has merged with foreign exchange fintech Moneytech FX to build out its cross-border payments offering. The terms of the merger deal were not disclosed, with Moneytech now sitting under the Monoova brand, and headquartered in Sydney with a team of around 70. Monoova cofounder and CEO Christian Westerlind Wigstrom said… Read more »

Airtasker
ASX

Airtasker buys Oneflare for $9.8 million – a quarter of its former valuation

- May 4, 2022 2 MIN READ

ASX-listed gig economy marketplace Airtasker is acquiring services platform Oneflare for $9.8 million. The company (ASX:ART) will help pay for the acquisition by raising $6.25 million via an underwritten placement of approximately 14.5 million new fully paid ordinary shares at $0.43 cents. Airtasker shares have been placed in a trading halt at $0.51 cents. Oneflare… Read more »

ASX

SafetyCulture nabs remote worker safety app SHEQSY in $6 million deal

- April 4, 2022 < 1 MIN READ

Scaleup unicorn SafetyCulture has acquired local worker safety startup SHEQSY for $6 million. The smartphone-based app is a lone worker safety solution designed for remote situations, offering real-time safety monitoring including duress situations. For managers it offers a visual dashboard of staff locations with activity countdown timers and generates real-time alerts when an employee overstays… Read more »

MAFS wedding
ASX

Zip swallows Sezzle in $491 million BNPL takeover

- February 28, 2022 2 MIN READ

ASX-listed buy now, pay later (BNPL) fintech Zip plans to acquire rival Sezzle in a $491 million all-scrip merger. The offer, now under a definitive agreement, will see Sezzle (ASX: SZL) investors swap their holding for 0.98 Zip (ASX: Z1P) shares, with Sezzle priced at $1.78 and Zip, $2.21. The transaction offers 22% premium on… Read more »

ASX

HungryPanda gobbles up Asian food delivery platforms Easi and Buy@Home

- January 11, 2022 2 MIN READ

UK-based Asian food delivery platform HungryPanda, has snapped up two local rivals, acquiring Melbourne-based startup Easi and New Zealand’s Buy@Home. The terms of the deal were not disclosed. The acquisitions mean HungryPanda, founded in 2017, now operates in 10 countries, including the UK, France, Italy, the US, Canada, Australia, New Zealand, Japan, South Korea and Singapore, across 60 cities.… Read more »

cryptocurrency
ASX

Tokenisation startup Trovio merges with Sydney digital asset firm TCM to create $200 million crypto company

- December 13, 2021 2 MIN READ

Sydney digital asset manager TCM Capital has hitched its wagon to Singapore-based digitisation, tokenisation and provenance services firm Trovio to create the Trovio Group in a deal that values the merged cryptocurrency entity at $200 million. An oversubscribed raise as part of the merger, led by Ellerston Capital, Sun Hung Kai Strategic Capital and Amherst… Read more »

ASX

Afterpay shares follow merger mate Square’s slump as the US payments fintech rebrands as Block

- December 2, 2021 2 MIN READ

Afterpay’s $39 billion takeover deal with Square dragged down the Australian fintech’s share price yet again amid delays and the US payments company announcing a rebrand. Because the takeover is an all-scrip deal, Square’s (NYSE: ASX) 6.6% fall in its stock overnight weighed on Afterpay (ASX: APT) in Thursday trade, falling 6.08% to close at… Read more »

SMS message, woman,
ASX

SMS marketing tech venture MessageMedia sells to Swedish rival for $1.7 billion

- June 11, 2021 2 MIN READ

Melbourne customer engagement marketing company MessageMedia is being acquired by Swedish rival Sinch for US$1.3 billion (A$1.7bn). The deal is made up of US$1.1bn in cash and 1.126 million new shares in Sinch. MessageMedia offers mobile messaging solutions for SMEs in the US, Australia, New Zealand, and Europe, serving more than 60,000 customers and sending… Read more »

Advice

4 lessons from a founder who bootstrapped until his startup’s $2.9 billion sale to a global tech giant

- April 26, 2021 3 MIN READ

2020 has been a big year for the start-up industry in Australia. The Australian Bureau of Statistics reported more than 340,000 new business entries in Australia between 2019-20, and KPMG reported startup investment rising despite COVID. Generally, companies take two different routes when kicking off a new business – seeking external investment or bootstrapping. I… Read more »