Timelio, a Melbourne based fintech, has announced that it has raised $5 million in an oversubscribed equity funding round to ramp up its expansion. The funding round includes Alex Waislitz’s Thorney Investment Group and the former ANZ board director, John Dahlsen, among other prominent family offices and high net worth individuals.
Since launching last year, the Timelio platform has achieved significant growth trading over $40 million in invoices and growing at rates up to 30% per month “We’re really excited to have our investors join us in the next stage of growth. They have a wealth of experience and knowledge, share our vision, are passionate about fintech and disrupting traditional lending models”, says Charlotte Petris, Co-founder and CEO.
The capital raised will be used to significantly expand the team, with a focus on the executive team, sales and marketing and continued investment in the platform technology. “Alongside our focus to grow the team, we are also seeking to expand the board to enable this rapid growth and transition from a start-up into a major enterprise. It’s so important to have the right board for the right time in our expansion and learn from those experienced in scaling technology companies” says Charlotte.
As part of the growth plans, Timelio also announce the launch of the Timelio Capital Fund. “The fund allows investors access to a new fixed income asset that provides attractive risk adjusted returns. Investors can gain passive exposure to the growth of Australian SMEs through a diversified portfolio of discounted invoices” says Charlotte. The fund will operate as a unit trust and is launching with additional seed investment by Thorney.