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Today: July 14, 2024
July 2, 2024
1 min read

Salter Brothers Tech Fund Supports Marketboomer’s $49M B2B Growth

TLDR:

  • Marketboomer, a Sydney B2B hospitality supplies platform, raised $4.9 million in a round led by Salter Brothers Tech Fund.
  • The investment will be used for resources in the Australian market, expansion in South East Asia and the UK, and providing liquidity for existing investors.

Marketboomer, a veteran B2B software venture founded in 1995, has secured $4.9 million in funding from Salter Brothers Tech Fund. The Melbourne fund manager, known for its $74m takeover bid for Prospa, will now take a 20% stake in Marketboomer. The platform, operating in 23 countries with over 10,000 monthly buyers and 20,000 suppliers, offers a cloud-based online procurement marketplace for hotels such as IHG, Accor, and Qantas.

The capital injection will be utilized for expanding resources in the Australian market, as well as furthering Marketboomer’s reach in South East Asia and the UK. Marketboomer CEO Malcolm Jull expressed excitement over the collaborative synergies with Salter Brothers, highlighting the growth opportunities that lie ahead. Salter Brothers head of equities, Gregg Taylor, emphasized the company’s impressive track record of customer loyalty and organic revenue growth.

The Salter Brothers Tech Fund, known for targeting established and growing tech companies, is confident in Marketboomer’s potential for global expansion. With more than $3 billion in group assets under management, Salter Brothers is positioning itself as a key player in the tech sector. Overall, the strategic investment in Marketboomer signifies a strong vote of confidence in the B2B software venture’s future prospects.

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