Sydney fintech Macrovue secures $1.25 million with themed investment plans.
Sydney based startup Macrovue has secured an oversubscribed $1.25 million funding round from AMP, James Goodwin, Inception Asset Management and other high net-worth investors.
Macrovue co-founder and chief executive Sid Sahgal believes the round was oversubscribed because the platform was “something innovative that wasn’t available in the market already”.
He noted that this investment was also indicative of a rise in interest in fintech companies in Australia.
Sahgal says this new round of investment will be directed at “commercialising and marketing” the platform, expanding it in Australia before moving overseas.
“At the moment we want to focus on Australia and getting it out as much as we can over here.
The team of ten are currently based out of Sydney fintech hub Stone and Chalk, and Macrovue will be eyeing off Asian markets for its next expansion, rather than establishing a presence in the US.
“With our product its a way to invest in global things: Americans are focused on buying American – they think you can get everything in America.
“Validate your idea as much as possible before you go out to investors: have a prototype, test it out, have some data to back up the fact that customers want your solution,” he says.
“That’s the key driver behind getting funding.” Advertisement