’s $1.5m raise demonstrates value of impact-driven business
Summary
The company recognises the trade mission as being a significant contributor of their successful raise, particularly in what are tough capital conditions.Banqer co-CEO Simon Brown comments; Weve worked hard to build a business that represents a new way of doing things. A sentiment shared by Flutey, who has Ngi Tahu whakapapa, and sees the iwi investment as a motivation multiplier as they continue on their growth journey.With Australia firmly set as Banqers current growth market, ensuring Australian representation in the round was important to the company; finding this in Tripple.Jake Milgrom, Executive Director of Tripple stating; At Tripple, we believe financial literacy is essential to reducing systemic inequality and that everyone should be given the opportunity to learn this in a constructive way. The team at Banqer have shown an outstanding ability to create a compelling education platform and were excited to support them as they deliver on their mission to prepare the next generation for their future.An appreciation of the purpose behind the awarded start-up is something shared by other investors; As investors, were regularly reminded of the importance of financial literacy and are excited to be assisting the Banqer team in providing their platform to a wider audience, says Byron van Vugt, Investment Manager at NZ Growth Capital Partners, NZGCP.According to Brown, the composition of the investors represents Banqers commitment to a broader definition of success; Were not just another new high-growth tech company. Additionally, the company will progress their strategic plans to enter new verticals outside of K-12, leveraging existing technology.Banqer has also been financially supported by Education New Zealand, Manapou ki te Ao (ENZ), by award, through their Product Innovation Fund earlier this year. Our immersive online simulation promotes behavioural changes, creating positive impact for our students, their families and their communities.To date, over 300,000 students have experienced earning an income, developing a career, paying taxes, exploring the property market, mitigating risk, enrolling in KiwiSaver (superannuation) and more as they practise money management in a safe environment.Founded in 2015 to address the low financial literacy rates that contribute to social inequality, its our mission to create social change by empowering the next generations financial future.