close a multimillion capital raising<\/a>, with Lindenberg saying investors were keen to close a deal \u201cwithin 60 days\u201d.<\/p>\n <\/p>\n
Almost 10 months later, BuyReply has finally closed a $1 million funding round from investors including Valar Ventures, Square Peg Ventures and private equity guru Adrian MacKenzie, formerly of CVC Capital Partners.<\/p>\n
<\/p>\n
Valar Ventures counts PayPal co-founder Peter Thiel as its lead investor. BuyReply is Valar Ventures\u2019 second investment in an Australian company in less than 12 months.<\/p>\n
<\/p>\n
Square Peg Ventures, meanwhile, was launched by Seek co-founder Paul Bassat and Justin Liberman. It is focused on helping early stage tech start-ups become global companies.<\/p>\n
<\/p>\n
While Lindenberg admits the fundraising process took longer than expected, he is happy with the outcome and the company\u2019s achievements to date.<\/p>\n
<\/p>\n
\u201cThe company was founded just over 12 months ago so it\u2019s been an exciting and rapid journey so far,\u201d Lindenberg says.<\/p>\n
<\/p>\n
\u201cWe now have an all-star investor team and board, which includes Bonnie Boezeman.\u201d<\/p>\n
<\/p>\n
Boezeman, like Thiel, comes from the PayPal family, having spent the last six years as the chairman of PayPal Australia. BuyReply has appointed Boezeman as a director.<\/p>\n
<\/p>\n
\u201cIn the modern world of fast-paced internet purchasing, BuyReply is one of the most exciting innovations for the avid mobile consumer,\u201d Boezeman said in a statement.<\/p>\n
<\/p>\n
\u201cYou see, you immediately buy, and avoid the hassle of app downloads, QR codes and internet searches.\u201d<\/p>\n
<\/p>\n
Lindenberg says BuyReply will use the new funds to build out its team in Australia and establish a presence in the United States, with either San Francisco or New York serving as its US base.<\/p>\n
<\/p>\n
\u201cWe will be keeping our engineering base in Australia but cannot afford to ignore the opportunities that exist in the US market,\u201d he says.<\/p>\n
<\/p>\n
\u201cEnabling eCommerce directly from an offline medium without apps is a groundbreaking opportunity, and represents the future of eCommerce and mobile monetisation.<\/p>\n
<\/p>\n
\u201cMobile is not going to monetise from advertising like the web did.<\/p>\n
<\/p>\n
\u201cIt will monetise from transactions and payments which occur away from the computer and browser, in the real world, and this is exactly what BuyReply enables.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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