Investec has expanded its local emerging companies’ portfolio by leading a $4million capital raise for Sydney-based technology company Fusion Factory.
The investment is the third for Investec’s Emerging Companies fund, which focuses on Australian and New Zealand businesses with high growth potential, and includes local brands MadeComfy and Dresden Vision.
Fusion Factory is delighted to have received the investment from Investec and other high net worth individuals. The investment found support from David Phillips and Hein Vogel, Investec Emerging Companies Fund Co-Managers and the fund’s investment committee which includes Cliff Rosenberg (Former MD, LinkedIn ANZ & SEA).
What about Fusion Factory drew the interest of investors?
Established by Co-Founders Frank Nesci and Greg Woollett in 2008, Fusion Factory is the company behind the award-winning Comestri platform, which has experienced strong growth over recent years.
Fusion Factory currently supplies commerce solutions to over 130 clients; including international and Australian brands Seed Heritage, RM Williams, Seafolly, Tarocash, Macpac, Michael Hill, Sportscraft, Fossil, Bonds, and others.
Underpinning Comestri’s success is the global explosion of unified commerce, which experts estimate will be used by 81% of all retailers globally by 2020.
Unified commerce is the term used for processes and systems connecting product
“Fusion Factory and its Comestri platform are a sound investment choice for Investec,” said Hein Vogel.
“They’re a decade-long ‘overnight’ success which has built a strong client base and reputation in Australia’s retail industry. This opportunity will now open doors globally – we’re confident of further international growth for this promising Australian tech company, particularly in the UK where Investec has a very strong presence.”
Fusion Factory Co-Founder Frank Nesci said, “It’s an exciting time for Fusion Factory and Comestri. The whole team has worked hard over the past ten years to do what we do best – helping our clients achieve single-platform commerce success. We will now use the proceeds of this capital raise to expand operations locally and into Europe, the UK, the US
What exactly is this Comestri platform?
Comestri is a Commerce Hub that helps merchants deliver unified commerce.
Merchants can manage and enrich multiple sources of product information and then use this information across independent sales channels such as
“Our Comestri SaaS platform is a market leader for retailers who are looking to deliver unified commerce to their customers,” said Frank Nesci.
“We’re now planning to develop strategic relationships with global channel and technology partners, fast track the platform’s development, and explore technology acquisitions.”
In addition, Fusion Factory has recently locked in a strategic partnership with the MySale Group, a leading international online retailer with brands in Australia, New Zealand and South-East Asia.
“The Fusion Factory team has built a unique business, and Investec is looking forward to helping them grow locally and overseas,” said Hein Vogel.
“Our investment is a good example of Investec’s approach of partnering with Australian businesses that show a strong local track record, and is poised for further growth and global expansion.”