Tuesday, 07 June 2016 04:24

Marketplacer back on the bike with $11 million funding round Featured

Marketplacer founders Sam Salter & Jason Wyatt Marketplacer founders Sam Salter & Jason Wyatt

Fast growing Australian tech company, Marketplacer, has completed its second capital raising, securing an additional $11 million from private investors to enable it to accelerate global growth.

Marketplacer, formerly known as the Exchange Group and established in 2007 by Melbourne entrepreneurs Jason Wyatt and Sam Salter, will use the funds to focus on global marketing, product development and securing acquisition and alliance opportunities as and when they arise.

The capital raising is the second major round of funding following a similar raising of $10 million in June last year. Both funding rounds have been led by high-profile entrepreneur Gerry Ryan of Jayco fame, who is also a member of the Marketplacer board.

According to Jason Wyatt, managing director of Marketplacer, on the back of the first raising, the company has realised considerable momentum with “triple digit revenue growth” since July last year, an increased global presence and the launch of Tixstar, an Australian Sport and Entertainment marketplace.

Wyatt says this latest funding round allows the Marketplacer Group to take its “proven success” and fund sales growth targets over the next 12 months.

“We have a proven business model that is tapping into companies’ needs to create global marketplaces in a short space of time. This has been demonstrated by our substantial growth over the past 12 months, and this next round of funding will allow us to drive growth even further – tapping into new customers and developing marketplaces for any product, anywhere in the world.”

With the introduction of Tixstar and Outdoria, Wyatt says Marketplacer now operates five marketplaces, which collectively receive three million visitors per month, an increase of more than 133% from July last year.

And, Wyatt says the group has also signed a further 1170 retailers, taking the total to 2203 and now delivers over $600 million a year in leads to retailers – as well as increasing its global presence with the opening of an office in Belgium, and the imminent opening of offices in both England and Ireland.

“Our 12-month vision for the Group hasn’t changed. We still aim to grow our business by partnering with companies and people who are interested in creating globally lucrative marketplaces,” Wyatt said.

“One of our most successful marketplaces, BikeExchange, took five years to grow 400 retail stores and it has taken BikeExchange USA just over a year to do the same. This demonstrates that we were successful in our vision in lieu of the last capital raising and we hope to accelerate this over the coming year.”

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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).





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