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Student marketplace and payments app, QPay, has secured a $1 million cash injection after funding from the Sydney Angels Sidecar Fund 2 was supplemented by a $380,000 combined investment by Steve Baxter and Naomi Simpson in exchange for 8.4 per cent of the firm’s equity during the recent episode of Shark Tank.
In an interview with Anthill’s Cynthia Karena, Simpson recalls the circumstances in which she started out her online gift-buying venture – months after the first dotcom crash of 2001. She says her focus was on creating something that couldn’t be done without the Internet. Simpson also talks about what she has learned, over the past decade, about business, entrepreneurship, creating an “experience” in gifting and managing social media.