Finder secures first external equity of $30 million to accelerate global growth
Global fintech Finder today announced that it has secured its first external funding since its inception in 2006.
Specialist technology growth investor Future Now Capital has committed an initial (AUD) $30 million which kicks off the capital raise process for Finder after 15 years of being bootstrapped.
The raise implies a pre-money (AUD) $650 million valuation for Finder, which launched in Australia and now operates as a global personal finance platform available in more than 50 countries.
The funding will contribute to Finder's development of innovative and compelling consumer products in key markets including Australia, USA, UK and Asia.
Finder co-founder, Fred Schebesta, said: "This is a milestone in Finder's history. We are a 15-year-old technology company that has been bootstrapped since day one. And today we are taking on our first ever partner to help accelerate the accessibility of our innovative financial management platform to a global audience."
Finder co-founder, Frank Restuccia, said: "We are delighted to partner with Future Now which shares our passion for helping people save and invest money via our unique all-in-one personal finance platform. I believe that people should have the ability to save and invest their money easily, and this capital will help accelerate our achievement of our mission."
Future Now Capital partner, John Orrock, said: "This investment into Finder is a major commitment for our fund, and we are privileged that they have chosen to partner with us on their journey.
"The Finder team has an impressive ability to deploy their technology stack to quickly provide consumers with innovative services and products. This ingrained nimbleness allows them to evolve their business and product suite to offer modern financial services."
Future Now Capital partner Louise Daley said that Finder had built an attractive and expanding brand presence in Australia, and will now enable customers globally to inform, compare, save, spend and invest on Finder platforms. "They have a clear vision and capabilities in providing great platforms for wealth management and financial services, as epitomised by their position as Australia's leading comparison platform, and their innovative crypto products that provide retail investors access to crypto investing," she said.
Finder was advised on this transaction by Highbury Partnership and Herbert Smith Freehills. Future Now Capital was advised by Jarden Australia.
