{"id":42614,"date":"2023-10-20T15:22:29","date_gmt":"2023-10-20T15:22:29","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/sydney-startup-snappr-closes-500000-pre-seed-round-as-the-newly-implemented-tax-incentives-cause-a-mental-flip-in-investors-startupsmart\/"},"modified":"2023-10-20T15:22:29","modified_gmt":"2023-10-20T15:22:29","slug":"sydney-startup-snappr-closes-500000-pre-seed-round-as-the-newly-implemented-tax-incentives-cause-a-mental-flip-in-investors-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/sydney-startup-snappr-closes-500000-pre-seed-round-as-the-newly-implemented-tax-incentives-cause-a-mental-flip-in-investors-startupsmart\/","title":{"rendered":"Sydney startup Snappr closes $500,000 pre-seed round as the newly implemented tax incentives cause a \u201cmental flip\u201d in investors – StartupSmart"},"content":{"rendered":"
On-demand photography startup Snappr has closed an oversubscribed $500,000 pre-seed round on the day that the government\u2019s new early-stage investment tax incentives came into effect.<\/p>\n
The Sydney-based startup initially planned to raise a small round from family and friends but strong investor interest led to a more sizable round. After raising $200,000 in less than a month<\/a>, the team decided to cap it at $500,000.<\/p>\n Snappr co-founder Matt Schiller says it could have been even bigger.<\/p>\n \u201cWe had to close the books on it,\u201d Schiller tells StartupSmart<\/em>.<\/p>\n \u201cWe had more interest than we had room to take on and that\u2019s a very good problem to have. It\u2019s great to have that level of investor interest as we go forward for future rounds.\u201d<\/p>\n Schiller and co-founder Ed Kearney only started working on the two-sided marketplace for professional photography services two months ago, and wanted to keep this round small.<\/p>\n \u201cThe biggest factor for us was that we initially intended for this to be a small family and friends round,\u201d Schiller says.<\/p>\n \u201cWe didn\u2019t want it to become a full seed round so we wanted to stay this size so it could be a pre-seed round and not get too big too early.\u201d<\/p>\nThe impact of the tax incentives<\/h3>\n