Tuesday, 14 July 2015 12:53

Oneflare raises $3 million on the road to listing Featured

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Oneflare raises $3 million on the road to listing Image courtesy of Stuart Miles, freedigitalphotos.net/images

Local online services marketplace oneflare has boosted its coffers with a $3 million fund raising on its way to a planned IPO on the back of what it says is strong growth since launching in 2012.

Oneflare, claming 70,000 registered businesses and over 1.3 million monthly unique visitors, is an online marketplace that empowers consumers to post a job from anywhere at anytime via any connected device, and quickly receive relevant and competitive quotes from reputable local businesses. Consumers register a job free of charge, and local service providers are able to quote on the work.

The new round of funding was led by Microequities Asset Management, a microcap fund manager in technology investments. The round was significantly oversubscribed, with all existing investors also participating.

The funds will be used to further expand the Oneflare team, with a focus on technology, sales and customer support.

“This funding is all about accelerating our growth,” said Adam Dong, CEO of Oneflare.

“We have assembled an exceptional team and believe we have the best online platform in the local services market.  Thousands of businesses rely on us as a vital source of job leads and our customers look to us as the most trusted platform to find, compare and ultimately hire local services.

“With our acquisition of WOMO earlier this year, we now provide access to half a million consumer reviews to help them make the right hiring decisions.”

“In the service industry, reputation is everything,” Dong said, adding that “trust and credibility are at the core of our promise to our customers. That’s why we’re the only provider to offer a guarantee on all services booked through verified businesses on our platform.

“We expect FY16 to be a transformative year for Oneflare. As we continue to entrench our market position and with revenue expected to triple this year, we are actively planning for an IPO.  We’re super excited about the year ahead.”

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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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