Australia’s leading caravan, campervan and motorhome rental platform, Camplify, has successfully listed on the ASX today.
In a major milestone for the Newcastle based business, after Morgans initially helped Camplify close a $3.5 million pre-IPO capital raise earlier this year, Camplify has achieved an IPO of $11.5 million, which was more than four times oversubscribed.
This response, partnered with growth in FY21, Camplify now expects FY21 GTV in the range of $30-$31.5m instead of the $27.8m forecast in the Prospectus as well as an expected FY21 Revenue in the range of $7.3-$7.6m instead of the $6.7m forecast in the Prospectus.
These changes are for the following reasons
- A lower than expected impact on operations from regional lockdowns and border restrictions associated with COVID-19.
- A faster than expected return to travel and tourism in the UK market, strong customer interest and earlier than expected economic recovery.
- Continued strength of the caravan and camping in Australia as a leading tourism sector.
In the lead up to the IPO the company, led by CEO Justin Hales, made changes to its board, drafting in Lux Group chairman Andrew McEvoy and RMIT chief executive, Helen Souness.
Camplify is a digital marketplace that connects Recreational Vehicle(RV) owners to hirers.
Camplify is undertaking international growth
Conceptualised with the nostalgia of childhood camping trips in mind, Camplify offers a diverse network of RVs for rent, from campervans to caravans to motorhomes.
Camplify has grown from a start-up to an international company, expanding beyond Australia into the UK, New Zealand and Spain, in the quest for global market domination.
The growth is an impressive feat, given the current climate for the global travel industry and Australia’s international border closures.
Speaking of the business milestone, Camplify Founder and CEO, Justin Hales says, “This is a significant moment for our business, which has grown from an idea and a handful of people to become a leading RV rental platform, with one of the largest RV fleets in Australia.”
“Listing on the ASX and becoming a public company marks the beginning of the next chapter of Camplify’s journey, including continued Australian and international expansion, investing in the platform and the launch of new products to complement the Company’s core business.”
