We have a bumper funding round this week, with startups ranging from boat rental to a networking platform for people fighting addiction both securing capital.
So, without further ado, here are some of the funding stories you might have missed this week.
E-commerce startup Marketplacer has secured $5 million from Salesforce ventures, for its tech helping retailers create their own online hubs.
The funding tops up the $20 million round the startup announced in November last year, and will help fuel its expansion into the US market.
But, for co-founder Jason Wyatt, the value comes from securing “an iconic name in the world of digital innovation”, with Salesforce coming on as a partner and investor.
“We have a shared vision to connect business and its customers in new ways to enable them to grow faster,” he said in a statement.
Pre-launch startup Arli has secured $2.5 million for its online platform connecting people suffering from drug and alcohol addiction, helping them to form virtual support and mentoring groups.
The funding comes from startup generator Antler, AirTree Ventures, and Folklore Ventures — previously named Tempus Partners.
In an interview with the Australian Financial Review, founder Sally Krebs explained the deeply personal motivations behind launching the business.
Having supported her own mother through addiction for some 35 years, she realised the importance of connection with other addicts who had been through the same thing, but were further progressed in their recovery.
“It’s not a lifestyle choice, and we hope that by connecting people it will help [people with addiction] not land in hospital,” she said.
“Our vision is to have thousands of coaches who were early members.”
Corporate expense management platform DiviPay has secured $1.7 million in Series A funding, led by ANZ Bank’s venture capital arm ANZi.
The fintech is designed to help small and medium-sized businesses manage employee expense claims, making the whole process more efficient and more secure, while avoiding causing financial strain for employees.
Founded in 2017, it has attracted more than 650 customers and issued more than 20,000 cards, with growth driven mainly by word of mouth.
Now, the team is going to be investing in marketing, with an aim to attract bigger companies and not-for-profits, which are particularly in need of such a product, founder Daniel Kniaz said in a statement.
Another fintech, Payable, has secured $1 million in funding from one of the big four. This time, the investment comes from Commbank’s VC arm x15ventures.
Payable, a subsidiary of ASX-listed regtech company Identitii, utilises its parent company’s participation in the trial Open Banking scheme to help consumers pay bills on time — and to save businesses the cost of chasing up missed payments.
The tech assesses whether or not a customer or client has funds available to make automated payments, before their due, offering payment plans and extensions to prevent failed transactions.
Boat rental startup Flotespace has bagged $600,000 in seed funding, valuing the business at more than $4 million after just two years.
The investment comes off the back of a surprisingly successful year for the startup, which saw 675% growth in a matter of months, despite the ongoing COVID-19 crisis.
Key investors in the round include Airtasker co-founder Tim Fung, Amaysim founder and tech investor Rolf Hansen, and as serial-entrepreneur Bardia Housman.
“Flotespace has the potential to lead the charge in bolstering domestic tourism for Australians,” Hansen said in a statement.
Tasmanian construction tech startup Varicon has raised $440,000 in funding, from growth accelerator fund Galileo Ventures and high-net worth individuals, including early Aconex, Canva and Redbubble investor Andrew Sypkes.
Founded in 2018, Varicon is a cost-management solution designed to help prevent projects from blowing their budgets.
The round follows 18 months of the startup collaborating with demolition contractor Delta Group. Now, it’s looking to expand its presence throughout Australia.
In a statement, co-founder and chief James Baker said the industry still uses antiquated technology, which in turn exposes them to financial risk.
“By giving contractors the ability to see where they’re making or losing money, Varicon can save them billions of dollars every year,” he said.