Tune into any form of business news these days and you’ll hear about the latest start-up that’s just raised millions through venture capitalists. It’s an exciting world full of big, bold growth stories – and for a lot of business owners, it can start to feel like the ultimate benchmark for success.

But that narrative can be misleading.

“It’s really easy – and culturally accepted – that VC funding or a capital injection is like the silver bullet to growing your business,” says Carolyn Breeze, CEO of Scalare Partners. “But what we don’t talk about when we see these articles with people raising big amounts of money is how much of their business they’ve actually given away for that capital.”

Carolyn is an investor and mentor who has helped hundreds of small-business owners decide if raising capital is the right move – and, if so, when and how to do it well.

Talking to Inside Small Business Editor Mia Lockett on this episode of The Small Biz Fix podcast, Carolyn mentioned a few things you should do now if you think investment is in your business’ future. Here they are:

1. Define your investment “why”

It’s easy to get caught up in the excitement and glamour of start-up culture and believe that you need investors to “make it”. But investment is not a silver bullet, says Carolyn Breeze, CEO of Scalare Partners – it’s a huge commitment. Not only are you giving away a slice of your business, you’re also putting yourself under big time pressure, in some cases.

“There’s time pressure on your business when you take VC funding,” she says. “You need to be meeting certain milestones and heading towards a certain exit in a certain amount of time.”

There are many reasons why investment might not be for you. If you do decide to do a capital raise, have a firm grasp of your “why”. We discuss the factors to consider in the podcast, but as a quick point of reference, let’s look at Christie Whitehill – the founder of INTU Wellness, who shares her investment journey on this episode.

The reason that Christie chose investment for her venture was to respond to growth opportunities that were already on the table.

“We’d had some really great traction in the market, sales and revenue was fantastic, and we also had our contract with Mecca on the table,” she recounts. “Raising allowed us to grow a lot faster.”

In other words, if you don’t have a strong reason for needing investment, you’re probably better off considering other forms of funding instead.

2. Know when the right – and wrong – time to raise capital is

Let’s say big things are on the horizon for your business – new customers, a big retail client, or an exciting product launch. You might consider this the perfect time to woo an investor with promises of big growth and a generous ROI.

But Carolyn recommends you pause and think about it before you go running to your closest VC firm.

“If you can see the horizon to some kind of revenue and some wins pretty early, I would hold off if you can, because it means that your business is going to be worth a lot more post those customers coming on and using your product or service,” she says.

Carolyn says that some business owners come to her looking for investment to finish that last little bit of their product, or hire a few people, in order to secure an important client. In these cases, she recommends they consider lending – or a grant.

Of course, it all depends on your situation – in Christie Whitehill’s case, she decided investment was the way to go. But Christie says that it wasn’t just money she was after when she was facing down the big deal with Mecca. What she wanted were advisors who happened to have a financial stake in the business. Her investors had all built big retail brands before, so she knew she was getting their invaluable expertise, not just their money.

“We needed that support because I don’t think businesses can grow on their own,” she says. “They grow because of a whole heap of people believing in them and making them happen.”

3. Start building your network now

Christie says she started speaking to investors well before she wanted the money. She established relationships by asking for coffee catchups and advice from investors in her industry.

“I say, ‘Hey, I just want to have a coffee or 15 minute call. I just want to tell you what we’re working on – it’d be great to get some advice from you,’” she says. “Then I say, ‘Can I stay in touch and keep you updated as to what we’re doing?’”

While you can look for investors on websites like Airtree Ventures, Christie says she uses networking avenues – like LinkedIn or even her child’s soccer game – to make connections. 

Meeting investors well in advance also means you’re able to vet them first. The last thing you want is to bring someone on to your company who turns out not to align with your values and beliefs.

4. Capital raising is a full-time job – start preparing early

For Christie, the journey from decision to raise was eight months.

“It was about a two month process just to pull together the documents I needed,” she says. “And that was me working full time just on the cap raising process. So it’s definitely a time consuming process. Anyone that is thinking about it, it doesn’t happen overnight.”

It might take longer than you think to get your business ready to pitch, so getting ready now could be a good idea. If you’re brand new to investment, get educated now so you know what you need. Resources like this podcast could be a good starting point, or there are a variety of websites out there that can give you an overview.

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There are many reasons why you may be looking to attract investors in 2025. Perhaps raising funds for future growth or new product releases, diversifying the skills of the business leadership, or as part of your exit strategy. Sadly, tight economic conditions may be forcing you to sell out.

Either way, the competition for investment is fierce. There is no shortage of businesses for an SME investor to examine. 

The following tips serve as a checklist for making your business stand out from the pack and attracting the right kind of investor.

1. Clarify investment needs

Before seeking investors, determine what you want from them. 

There are numerous means of investing in a business, each with their own pros and cons – for the investor themselves, for the business within which they are parking their dollars, and for you as its owner.

Ask yourself: Are you seeking silent investors to raise funds? Partners to take an equity stake? Co-directors to assist with running the business? Buyers to assume full ownership, allowing you to either exit entirely or stay on as a salaried employee?

Some strategies lend themselves to shorter-term cash injections, others typically deliver better value longer term. The right option will depend on the needs of your business and your personal goals and aspirations – both now and in the future.

2. Get a valuation

Just like you get agent appraisals before selling a property and a valuation when remortgaging a loan, having a business’ valuation helps determine its market worth. This is powerful information to support your negotiations with prospective investors and determine whether you are getting a good deal or being walked over.

A valuation should consider all business assets, including: physical assets (property, equipment, inventory, vehicles, office furniture etc.); intangible assets (patents, intellectual property, brand, partnerships, goodwill etc.); customer/client databases; revenue sources; and profitability.

It should also factor in liabilities, such as debts and loans, contractual obligations, accounts payable, unpaid tax, outstanding payroll and super contributions (including your own), any director’s loans etc.

The business’ workforce is another factor. Labour is a significant expense (as every employer can attest), but the employees’ collective skills, qualifications, client relationships, performance and productivity can be a considerable asset. This is especially the case in niche markets and when, as now, unemployment remains low, making it more difficult to replace staff.

3. Think like an investor

You know your business better than anyone – its strengths, weaknesses and future potential. Unless you communicate that clearly to an investor, however, they won’t.

Consider what you want to see when investing your own money, including:

Overview: what does the business do? Where does it trade? What is the market context? Who are the competitors? 

Good housekeeping: up-to-date records, accounts, payroll etc. If payments are late or records missing, you would wonder whether the root cause of the problem is poor management or poor business fundamentals.

Profit-and-loss statements: a clear and complete overview of the numbers – past, present and projected.

Revenues: clearly articulated revenue sources and opportunities for growth.

Inventory: an itemised list of everything the business owns and can monetise (including products, equipment, supplies, assets etc.)

Customer databases: current records of who uses the business, what value is derived from them, and whether this database is growing.

Protections: insurances, back-ups, contingency plans and procedures etc.

Ownership structure and governance: who owns what.

The more you can clearly show investors, and the cleaner it looks, the more value they will recognise in the business as an investment opportunity.

4. Consider your timing

Timing is crucial when seeking and onboarding investors.

Try to avoid the distraction of dealing with investors during peak trading seasons, when your focus is needed within the business, and when sub-optimal conditions restrict the business’ value (cash flow lulls and market downturns). 

Tax time, summer holidays and seasonal influences can cause investors – and yourself – to be absent or distracted, instead of prioritising the investment negotiations.

Remember, too, that we have a federal election due by May this year, which can put investors into a holding pattern until an outcome (and the related election promises) are known.

5. Consider a range of sources for investors

There is no one source for finding a business investor. It will depend on what you already have at your fingertips and what makes you most comfortable. Options include:

• Business brokers
• Accountants/business advisers
• Your business mentor(s)
• Industry networking events
• Peak industry bodies
• Trade and small-business media
• Angel investor groups
• Crowdsourcing platforms (such as Kickstarter)
• Your own contacts

6. Explore in-house alternatives

Your contacts can be particularly powerful, given you already have an established relationship with them. They may even be customers, suppliers or staff, who already appreciate the business’ offering and its future growth potential.

You may not need to look for outside investment – allowing you to retain full ownership of, and dividends from, your business.

For example, self-managed superannuation funds (SMSFs) can legally carry on a business, provided its trust deed allows this and the business is operated solely to provide retirement benefits to its members. SMSFs can also purchase the commercial property your business uses, so the business pays rent to your super instead of to someone else. SMSFs aren’t for everyone, though, with considerable compliance requirements and costs to weigh up. 

Alternatively, you may be able to seek buy-in from relatives, transforming you from a sole trader to a family business. This has the advantage of diversifying the risks and labour requirements while retaining revenues and ownership within the family. Plus, it can create an ongoing legacy and source of income for future generations.

7. Consider their reputation

Investors are people and it’s important to consider how those people fit into the business.

Strained relations with employees can lead to a staff exodus – valuable knowledge and experience walks out the door, potentially taking customers with them.

Poor engagement with suppliers could cause them to inflate prices, deprioritise your orders or cut off supply altogether. 

Tensions between you and/or fellow directors can delay strategic decisions and erode trust. 

None of this is conducive to profitable operations, and can stifle the value of the business for everyone.

Additionally, having established investors can affect your ability to on-board new ones. Some prefer exclusive relationships; some are reassured by other investors having already contributed money.

8. Protect your own interests

Above all, remember: The business is as much your investment as anyone else’s. Make sure you get the greatest value out of that investment. And don’t let it bleed your personal finances dry. 

Consider also whether investors are the right way to go in the first place. If the goal is temporary cash flow support or funds for asset acquisition, SME finance options or commercial loans may be more appropriate than trading away ownership of the business.

There is no substitute for good advice to help with your decision-making. If you are seeking investment, reach out to your financial adviser, accountant and other specialists to ensure you maximise investment opportunities, minimise tax and avoid letting someone else unfairly reap the fruits of your labour!

Disclaimer: The information in this article is of a general nature only and does not constitute personal financial or product advice. Any opinions or views expressed are those of the authors and do not represent those of people, institutions or organisations the owner may be associated with in a professional or personal capacity unless explicitly stated. Helen Baker is an authorised representative of BPW Partners Pty Ltd AFSL 548754.

This article first appeared in issue 47 of the Inside Small Business quarterly magazine

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ISB: How did DAPPA manage to capture the attention of Michael Easson and Adam Geha?

DC: DAPPA was fortunate enough to receive support from Easson and Geha due to a pre-existing relationship. This relationship had been built across many years, with an interest in technology and entrepreneurship uniting them with DAPPA’s vision. We were in regular communication with Adam and Michael as new business ideas and market shifts emerged, with both of them agreeing to back DAPPA in its initial concept in 2022.

ISB: What did you do or what do you think worked for Michael and Adam to eventually invest in your venture?

DC: After accumulating 50 potential users across university campuses and building a slow, very buggy prototype, Adam and Michael were on their way to being convinced of our product. It wasn’t until we showed Adam and Michael an example of the virtual try-on technology in use that really won them over. Our final effort involved developing a photo of Adam Geha, changed from a business suit to a black turtleneck and overcoat, using the same technology we were proposing using. Nothing will beat showing your product/an early product to potential investors.

ISB: Can you share what kind of support and investment they provided for the growth of the business?

DC: Adam and Michael have been incredibly helpful and influential in building DAPPA. Their mentorship and guidance on how we should tackle engaging with retailers and other partnerships has been thought-provoking and enabled us to consider aspects of the business we wouldn’t have otherwise. They provide insight through lessons that can only be learnt with time and I can definitely say we have grown substantially as a business thanks to that insight.

ISB: As you look to further grow your business, do you see yourselves changing your strategy to attract additional investments and what would those changes be, if any?

DC: Given the nascent nature of the Fashion AI industry, part of our current capital-raising strategy always has a component of explaining the potential market that DAPPA can capture. As the business grows and competitors emerge, our strategy will have to shift from talking about the potential market we could capture to the established market that we, and our competitors, play in and how we can differentiate ourselves. Whilst our strategy may change, our commitment to helping users express their best selves never will.

ISB: What would be the most important lesson that any business should take to heart when it comes to finding potential investors?

DC: Building relationships with your potential investors beforehand is the most important piece of advice we could give any aspiring entrepreneurs. Figure out the area of innovation you want to work in, is it deep-tech working with cutting-edge hardware RnD, is it building financial solutions for people everywhere or something in between? Then find the investors who talk about these sectors, invest in these sectors and connect with them. It’s difficult for investors to put their money behind people they don’t know well and in a sector they don’t understand.

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The plan will focus on growing investment in AI, strengthening AI capabilities, boosting skills, and securing economic resilience.

With the plan, the Government has recognised Artificial Intelligence as a crucial driver of Australia’s economic future, with AI and automation projected to contribute up to $600 billion annually to Australia’s GDP by 2030.

The Australian Information Industry Association (AIIA) has welcomed this pronouncement, with AIIA CEO Simon Bush commenting, “The development of a comprehensive National AI Capability Plan is a significant step forward to map out how Australia can move from AI laggard to AI leader. Australia has been a slow adopter of AI across its economy by global standards due to adoption concerns and fears.”

Bush added, “Australia requires a balanced approach to both ensuring AI regulation and guardrails protect citizens but also having industry policy that supports AI innovation, investment and adoption. Australia currently lags behind many of our international competitors in AI adoption and implementation so this Plan is a crucial step in the right direction.”

AIIA stated that the plan aligns with the industry’s priorities for developing domestic AI capabilities and ensuring Australian workers and businesses can thrive in an AI-enabled economy.

“While we strongly support the Government’s recent work on AI guardrails and safety measures, we have consistently advocated for a parallel national strategy backed by targeted investment. I would encourage the Government to move as quickly as possible in the development of the Plan and move towards funding the implementation as a matter of priority,” Bush said.

With the review process scheduled to conclude at the end of 2025, AIIA forecasts that the government response would likely come after the 2026 budget cycle, which would mean that funding for the plan would not trickle in until at least the 2027 budget.

“This is simply too long to wait in the fast-moving AI landscape,” Bush commented. “We strongly urge the government to bring forward the review deadline to July 2025, allowing recommendations to be considered for the 2025-26 Mid-Year Economic and Fiscal Outlook.”

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This is the insight from the 2024 SME Spend Barometer report from Instarem, part of Southeast Asian fintech Nium, which looked at the spending behaviours of SMEs in Singapore, Australia, and Malaysia.

The report noted that export payments increased by six per cent, particularly in Australia and Malaysia, indicating a cautious yet optimistic approach to global expansion.

Yogesh Sangle, Global Head of Instarem, commented, “Expanding overseas allows SMEs to tap into broader customer bases and unlock market opportunities to achieve scale and growth. While a degree of caution is understandable in today’s climate, we anticipate that SMEs will continue to identify and seize opportunities that align with their goals.”

The report also found that digital transformation and AI adoption are accelerating across APAC as reflected in a 29 per cent increase in spending on information services compared to the same period in 2023, with Malaysia and Australia leading the charge in adapting digital tools, AI, and automation to address rising costs and improve efficiency.

There is also a marked reinvestment in physical infrastructure after years of hybrid or remote work, with 16 per cent growth in office expenses. In particular, an increased demand in commercial real estate may have led to more than doubling of transaction volumes in real estate and leasing (+107 per cent)  from 2023 to 2024.

However, some sectors such as industrial manufacturing and construction (-48 per cent), online retail (-44 per cent) and telecommunications (-28 per cent) are bucking the reinvestment trend in favour of a more cautious approach driven by specific market needs.

“Employee demand for in-office collaboration has driven our decision to invest in physical office spaces in the Philippines and Vietnam. Balancing these investments with our offshoring model allows us to better manage costs while fostering greater collaboration and innovation,” said George Votava, Group Managing Director at Net Fusion Technology.

The research also noted that SMEs aren’t scaling back on talent investments, with salary payments up seven per cent.  In Australia, salary payments among SMEs rose modestly (+3 per cent), in line with the country’s Wage Price Index and the National Minimum Wage increase of 3.75 per cent, suggesting that businesses are prioritising competitive pay and retaining critical talent while carefully managing costs.

In addition, SMEs are focusing on high-impact investments like digital transformation while adopting measured strategies in other areas, though challenges such as fluctuating exchange rates and high processing fees continue to pressure resources.

“Managing costs is a top priority for SMEs, particularly in critical areas like talent and expansion,” said  Sangle. “Thinking strategically about payments can not only help to reduce high cross border fees and improve cashflow – it can free up crucial resources for growth and set SMEs up for long-term success.”

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So says a recent survey by Angel Investment Network, the world’s largest online angel investment platform.

Of the start-ups polled, 48 per cent said they were “very optimistic”, while 31 reported being “quite optimistic”.

Securing investment a key challenge

Of the start-ups surveyed, 71 per cent said securing investment was a challenge. Many seemed to be lacking knowledge about how to engage investors; only 55 per cent said they had a “good understanding” of how to deal with investors and structure a deal. Almost a quarter (24 per cent) reported a “quite weak” understanding of what these processes should look like.

Another problem for start-ups is an apparent mismatch between expectations and reality, when it comes to funding. Half of start-ups said it took longer than they thought to get funding. Almost the same proportion (41 per cent) said that their funds ran out sooner than they had expected.

“Our survey…reveals a gap between expectations and the reality of fundraising,” said Mike Lebus, co-founder of Angel Investment Network.

Of those who did successfully fundraise, 30 per cent said that their profitability was what led investors to back them. Other factors included scalability of their business (26 per cent), their team (14 per cent) and revenues (eight per cent).

Hiring, R&D, and mental health all challenges

Other challenges faced by start-ups included hiring, R&D processes, and mental health.

A total of 35 per cent of start-up founders reported having difficulties hiring the right talent, while 31 per cent struggle with product innovation and development. 

Over half (54 per cent) said that their mental health has been impacted by running a start-up. Just under a quarter (24 per cent) find work-life balance a challenge.

What can the government do to help?

It’s a question ISB asked small businesses just last week – and many of the answers we received were echoed by Angel Investment Network’s survey respondents.

Over three-quarters (78 per cent) of start-ups surveyed believed access to grant funding would help them. Increasing tax relief for start-up investors was mentioned by 55 per cent. Meanwhile, 35 per cent believed R&D tax refunds should be more generous.

With the next federal election on the horizon, start-ups are hoping that whoever is elected will keep them smiling next year.

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ISB: What is the inspiration behind Blossom?

GR: My sister and co-founder, Ali, and I started this business during the COVID-19 pandemic. With lockdowns keeping us at home as a family, we had more time to get on top of our personal finances. Coming from a family of finance professionals, we were always exposed to innovative financial ideas around the dinner table. One week, the discussion was about fixed-income, and given our risk-averse nature, it immediately appealed to us. However, during our research, we realised the barriers: long lock-up periods, high minimum investments between $50,000 to $200,000 in some cases, and high fees. We knew this was an issue not just for us but for many people we knew. So we built a platform for everyone, providing more accessible, affordable options to build wealth.

ISB: How does Blossom make investment enticing and less overwhelming especially for youth?

GR: Fixed-income investments are often seen as conservative or even ‘boring,’ but at Blossom, we embrace them as a powerful tool for diversification. We’ve made this asset class approachable and engaging by creating an easy-to-use platform that removes the usual complexities often associated with financial products. We focus on simplifying the experience to help our users confidently make long-term financial decisions without feeling overwhelmed. By providing insights and resources, we help users understand the power of consistent investing and compounding returns. Whether it’s saving for a house deposit or another major milestone, we have helped many users reach their goals. Our aim is to empower users of all ages to take control of their financial future, no matter where they start.

ISB: What makes fixed income an ideal investment vehicle in these times?

GR: The markets have seen some green over the last few weeks, in part due to the fact of the Federal Reserve finally cutting interest rates in the US. Rate cuts globally are already predicted by many experts and the market itself is anticipating around five rate cuts in Australia by this time next year. This will, of course depend, on inflation and unemployment rates meeting the RBA’s targets to start cutting rates. This is historically good for investments. However, there is still some global uncertainties in all markets with the US election and geopolitical tensions – we believe investors still have reason to be a little bit cautious. Should the market correct, we would typically expect to see investments in fixed-income outperform equities.

ISB: Why is ethical investing an important aspect of your venture?

GR: Our mission is to leave your savings and the environment much better than we found them. We’ve made it our mission to support responsible investment with our ESG policy. It’s important to us and our brand that we’re being responsible and conscious with our investments. We’ve also committed to planting a tree after every first funding and you can choose to plant trees when you refer a friend to the app. We’ve planted over 13,000 trees since inception, and we look forward to planting many more.

ISB: As siblings running this venture, how do you ensure a healthy business relationship?

GR: Our strong business relationship is built on a few key principles. We each manage different areas of the business, which creates clear accountability and helps us avoid overlapping responsibilities. Our complementary skill sets also play a significant role – Ali’s expertise covers areas where I’m less experienced, and vice versa, allowing us to bring diverse strengths to the table. Above all, we share a deep trust in each other, which enables us to make confident decisions, knowing we’re both fully committed to the success of the business.

ISB: What is your vision for Blossom in the next couple of years?

GR: Our vision for Blossom is to become the go-to platform for savers who want to take charge of their financial future and to be the trusted home for fixed-income investing. In the next five years, we aim to help hundreds of thousands of savers with a range of products tailored to different life stages. We also have global aspirations, with plans to launch in New Zealand by the end of this year and expand into larger international markets soon after.

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Strapsicle’s founders Lou Rice and Ben Stainlay presented their product on the show’s first episode for season six, a simple but innovative solution designed to allow Kindle users to read in comfort and prevent them from accidentally dropping their devices.

“I have always watched Shark Tank, in awe of the business founders brave enough to put themselves and their business out there and thought to myself there is no way I could do that. So, when the opportunity arose less than two years into our business, I was honestly a bit reluctant. But being able to put our business on the world stage, get the attention of some of the biggest names in business, and secure some dollars to help us level up production and grow our team, was an opportunity too big to pass on,” said Rice.

Since its launch in June 2022, Strapsicle now has a value of $2.5 million. In their first year of business, Strapsicle sold over $200,000 worth of straps and in their second year, over $1.5 million, a $750 per cent increase, with their products sold not only across the country but globally as well.

For their pitch, Rice and Stainlay shared that there are almost one billion e-readers in the world and they intend to tap into a portion of that global market. Their pitch sought for a $250,000 investment in return for a 10 per cent share. Four of the five judges offered $250,000 for at least a 20 per cent share before The Oodie founder Davie Fogarty and US Shark Tank veteran Robert Herjavec joined forces to secure a 22.5 per cent stake in the business for $250,000.

“It was pretty surreal to see four of the sharks fighting it out for a stake in the business. We didn’t ever anticipate that was going to happen. But we had agreed that we really wanted Davie and Robert to invest, so we were so happy when we turned around to see they had agreed to partner up for us,” said Rice.

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The data noted that more than half of these losses went to investment scams, which offer fake money-making opportunities, often with the promise of unrealistically high or above-market returns and seemingly coming from legitimate sources. Other prevalent causes of these losses include phishing and business email compromises.

CommBank Executive General Manager Small Business Banking Rebecca Warren said, “If a business owner or leader falls victim to an investment scam, it’s not just the business that could be compromised, but also the jobs of the people who work there.

“We can see through our data that small businesses lose around $30,000 on average to investment scams, which can have a devastating impact, both financially and emotionally. When they make an investment into what they think is a term deposit with a great interest rate, they tend to put in most of the money they have available, to maximise their returns.”

Practise caution

CommBank has reminded its customers to be suspicious of investment opportunities that sound too good to be true.

Warren said, “Investment opportunities that offer high returns with little or no risk are likely fake and coming from a scammer. Be wary of any unsolicited online contact, including people reaching out via social media, sponsored ads or any opportunities endorsed by public figures and popular TV programs.”

Customers are advised to sense-check investment opportunities with friends and family before committing to anything, as well as check reviews online and consult ASIC’s list of companies they should not deal with.

This month is Cybersecurity Awareness Month, and many key organisations are ramping up efforts to combat cybercrime. The Queensland government yesterday announced $15 million towards helping small business fight cybercrime.

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Launched in late 2022, ReciMe is designed to help home cooks organise, share and shop their recipes. Despite being a young venture with a team of just five, ReciMe now has 800,000 users globally, achieving a 20-fold growth rate in the past year via its subscription model.

In particular, the app has seen tremendous growth in the US, which prompted the start-up to move its operations from Australia to New York early this year, spearheaded by co-founders Christine Nguyen, Ivy Nguyen, Will Kent, and CTO Nic Pacholski.

ReciMe’s most popular feature is its smart importing tool, which enables its users to aggregate all their recipes in one platform within seconds, whether those recipes came from an Instagram video, recipe blog or grandma’s recipe box. To date, over 100,000 unique recipes have been imported to ReciMe.

Co-founder and CEO Christine Nguyen attributes much of the company’s success to the app’s simplicity.

“When we first released ReciMe, we built too many things, and none of them worked well,” Nguyen shared. “As soon as we realised that our smart importer was our most loved feature, we scrapped everything and re-built our entire app just to drive that one core action.”

The latest investment round saw ReciMe get the backing of prominent angel investors from the US, including Marissa Mayer, the former CEO of Yahoo and board member at Walmart, Deb Liu, CEO of Ancestry, Karl von Randow is the founder of Letterboxd which is the fastest-growing community of film-lovers, and Paul Greenberg, prominent Australian eCommerce pioneer and investor.

“We’re thrilled to have such supportive and experienced consumer operators as our investors and cheerleaders”, Nguyen said. “We’ve never been more motivated and clear on the path ahead.”

Sarah Park, Co-Founder and Managing General Partner at Even Capital highlighted the potential to innovate the app offers for home cooks.

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