The company behind a popular Aussie mobile rewards app needed capital to achieve its ambitious growth plans. STAX stepped up to the plate.
SoSure is a mobile app that rewards users when they make purchase at participating retail and online stores.
With an easy-to-navigate interface, SoSure introduces cryptocurrency in an intuitive, safe, and fun way, while offering real savings to users as they spend.
SoSure also enables users to pay bills via BPay, using their rewards balance.
Since its launch in October 2019, over 1,000 merchants and 40,000+ users have joined the app.
SoSure’s merchant network is represented across the tourism ($143bn), food services ($57bn), entertainment ($36bn) and beauty ($7bn) industries, totalling a potential market of almost $250 billion in Australia alone.
Australians currently spend an average of 35% of their disposable income on dining. Securing even a small percentage of this revenue on SoSure’s platform will see the company continue its rapid expansion in the space.
SoSure's experienced team includes entrepreneurs with extensive knowledge in the retail industry.
By engaging with STAX, SoSure received a large number of expressions of interest from domestic and international private investors.
The allocation was quickly filled, and had to be closed earlier than expected due to oversubscription.
In the end, SoSure raised $728,492 AUD through private placement.
Andy Ng, CEO of SoSure said:
“STAX offered a highly professional and effective capital raising service – the actual fundraising process took less than 24 hours. I would highly recommend STAX to other companies looking to grow.”
We look forward to working with SoSure on their next funding round. Until then, keep sending those sweet rewards our way...
Learn more at sosure.com.au.