Chipper Cash Becomes A Unicorn & Mr Yum raises US$65m Series A led by Tiger Global
Catch up on all the news and fund raising announcements from TEN13, Australia's fastest growing syndicate.
Did you miss us? We spent last month heads down completing deals and launching new features at TEN13 as we round out 2021.
We've had some exciting wins in November with Chipper Cash becoming Africa's most valuable startup after raising US$150m led by FTX. Mr Yum has raised one of Australia's largest Series A rounds raising $US65m led by Tiger Global with us participating in our third investment round through TEN13. Plus adding new investments that we are stoked to share publicly as well.
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We're building out Australia & New Zealand's largest syndicated venture capital platform, with 390+ investors made up of early employees, execs, and founders of some of the world's most exciting companies.
If you are excited about investing in global startup companies alongside us and our investors then you can sign up here(AUS/NZ Sophisticated investors only).
Africa's Most Valuable Startup - Chipper Cash Raises US$150m at US$2b from FTX
We're excited to share that Chipper Cash has officially become an elusive 'unicorn' being valued at US$2bn in their latest Series C extension round of USD$150m. The funding round was highly strategic being led by Alameda Research LLC, the investment arm of the leading Crypto platform FTX (last valued at US$18bn).
This marks our second unicorn at TEN13 in our first two years with Go1reaching this milestone only 6 months ago.
We've seen this team grow from 20 -> 120 in a year, support the hospo industry to handle consistent lockdowns, launch into 2 major markets (US & UK), release market-leading features (and more to come), and overall be a joy to work with.
This week, they announced their record-setting AU$89m Series A and we couldn't be happier to continue to support them for the third time through TEN13.
This team is building something special, we're excited to be part of the journey - Hugs not handshakes!
Want to know more about their journey? Kim Teo (CEO and Co-Founder) wrote about what their Series A means to them here.
When we launched TEN13, we never imagined being an Australian centric VC, for us it was always helping Australian and New Zealand investors to gain access and invest in the most exciting emerging tech companies globally.
Having invested in Chipper Cash and Imalipay earlier in the year in Africa, we see the same huge opportunity with the value being created with Payhippoproviding SME and Medium-Size businesses in Nigeria with speedy credit opportunities.
Customers want and expect better digital shopping and increasingly, personalised experiences. Preezie is helping e-commerce customers compete globally by raising the bar and delivering on these expectations. We're excited to be co-investing alongside our friends at Touch Ventures.
The Preezie platform is currently utilising guided selling, data driven insights and behavioural science to empower over 700,000 individualised shopping experiences every month.
We met Justin from PUSHAS from an introduction through our Head of Platform Doug when we were doing due diligence on another company. Justin instantly impressed the team, so when they were looking to raise a round having bootstrapped thus far, it was an easy decision to dive in.
PUSHAS is Australia's leading sneaker marketplace and provides software tooling for sneaker resellers. They've launched a world-first liquidity function to provide resellers with instant liquidity which is underwritten by the PUSHAS Sneaker Fund – the world’s first sneaker investment vehicle – which has risen in value by 52.8% growth since its inception 12 months ago.
We are happy to release our investment notes for Amplified Intelligencewhich we announced earlier in the year. We led the $3m seed round into Amplified as it leads a new category defining attention metrics in advertising.
Billions of dollars are spent on the major platforms such as Google and Facebook based on impressions and CPM (Cost per thousand ad impressions) as the core metric, yet the quality of those impressions is hard to measure. The question to be asked is whether a human is actually seeing and paying attention to the content or advert across platforms and the effectiveness of each impression.
If you've been to a high-end retailer to buy a big-ticket item, you'll know the value of an experienced sales rep. They'll make you feel welcome, ask insightful questions, educate you on the products before providing thoughtful and tailored recommendations that meet your requirements.
Now contrast that with the modern e-commerce shopping experience where you usually are left with a search bar, a myriad of filters, and poor, impersonal search results. Preezie wants to change this and enable brands to empower shopping experiences based on personalisation, bringing the sales rep experience online.
Vitruvian has announced the next evolution of its hardware with more smoother weight transitions and a new locking system that gets you moving quicker and lifting more. Check it out in their shop.
Mr Yum on why you shouldn’t take culture for granted – especially during a pandemic
It’s been quite a year for Mr Yum. Some would call it crazy, but in the vein of their company mantra “think 10x”, they launched into the US and UK simultaneously earlier this year.
To say on the back of their US$65m raise it has been a success would be an understatement? But how did they do it? Leading by example and building an amazing team that simply loves to work there and embodies their company mantra "Here to serve".
Our Transition Level Investments portfolio company Linktreeannouncedtheir integration with Shopify!
Merchants can now directly list items on their Linktree links and direct them to a Shopify store front.
Don't have a Linktree yet? Join ten's of millions of users here.
Carted looks towards the future of Commerce
The future of commerce is not all about building a new reality. It’s about building new experiences around people’s existing reality.
The era in which we are now, coined as Commerce 3.0, is about creating the infrastructure that allows for the seamless integration of commerce into relevant contextual experiences for shoppers — think social commerce, conversational commerce, voice shopping, live shopping, and more.
Disclaimer: TEN13 Management Pty Ltd ACN 634 071 579 (TEN13) is a corporate authorised representative (CAR No 1276658) of Lanterne Fund Services Pty Ltd (ACN 098 472 587, AFSL 238198) (Lanterne) and is authorised to provide advisory and dealing services in connection with TEN13 to wholesale clients only.
Introducing our Investor Spotlight Series, highlighting the leading supporters of startups in the Australian ecosystem. First up, Daniel Johnson, a successful founder turned angel investor with over 70 startups in his portfolio so far.
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