Aussie Home Improvement Startup Hipages Secures $6 million.
After operating for the past ten years, Australia’s largest platform for tracking down tradespeople, hipages, has recently secured a total of $6 million of investment.
This recent investment comes from some of Australia’s leading business names, including Ellerston Capital, a fund that was setup by the by the Packer family, Australian Ehthical Investment, KTM Capital, which is the underwriter of the Freelancer.com float.
Co-founder and Chief executive officer of Hipages, David Vitek commented that the company’s efforts over the past couple of years have finally paid off.
“After 10 years of hard work growing the business this $6 million vote of confidence from some of Australia’s most respected investment funds is validation that we have solved a real problem for consumers,’’ he says.
Hippages.com.au has attracted over a total of million visitors each month and it connects over 40,000 tradespeople with over 500,000 consumers. Co-founder and COO Robert Sharon-Zisper stated that the company has been increasing it revenue at an average of 30% per annul and this round of funding shall allow them to further accelerate its growth.
“Our aim is to be a household name across the 8.3 million homes in Australia,’’ he says.
This recent financial funding was managed by technology-focused advisory firm Right Click Capital and partner Ari Klinger, whom have praised Hipages.com.au for transforming the industry.
“Hipages is an outstanding company that has reinvented the Yellow Pages into a trusted service network that solves one of the perennial issues for consumers – finding a good tradie.The significant demand for the idea including from some of Australia’s premier institutional investors is a strong validation of the management team, strategy and investment potential of the business.”