Innovative Sydney-based fintech startup Shouta announced the closure of its seed funding round having secured $1 million in funding from a range of notable investors.
The digital nano-gifting app has seen growth in its client platform, Shouta, and its business platform, Shouta Biz, as clients and businesses look for new-age ways to gift and connect.
With strategic backing from a range of high-profile and prominent investors, founders Carly Shamgar and Nick Redwood plan to utilise the funding to fast-track growth.
Shouta’s strategic investment partners
They include urban.com.au and Social Garden‘s, Mike Bird and George Glover, Carsales and Pentana Solutions‘, Steve Kloss, Untitled Group’s Michael Christidis and Tom Caw, Aconex and Gravel Road Ventures‘ Rob Phillpot, and ex-GM of Commonwealth Bank, Amanda Coombs.
Shamgar says, “We’re thrilled with the high calibre of investors backing Shouta.”
“Besides the capital they’ve provided to fast-track our growth, these strategic partners add huge value to our business and contribute insights, connections, and opportunities that will be harnessed as we continue to change the face of gifting in Australia and globally.”
“We’ll be utilising this funding round to grow our team, expand our workplace solution offering, Shouta Biz, and work on innovative updates and products for Shouta’s customers.”
Rob Phillpot, Co-Founder of Aconex and CEO of Gravel Road Ventures is optimistic.
“Shouta is rethinking and revolutionising the way we gift. The team has created a scalable business that maximises the “warm-fuzzies” and fun that comes with gifting.”
“While fully digital, Shouta is more than just a quick send as it is a connected experience that allows users to integrate a personalised and customisable approach to gifting.”
“Building a large subscriber base will be critical to the team’s continued success and I think they’ve assembled the right team and investors to facilitate this,” emphasised Rob Phillpot.
Shouta is exciting investors on many fronts
Steve Kloss of Carsales and Pentana Solutions says, “Shouta is an exciting business on many fronts. The audience that it is addressing is expansive with an immediate ability to scale.”
“The concept of gifting currency that enables a mobile audience to seamlessly transfer a gift is an opportunity that needs to be addressed. When I understood Shouta and how they were addressing this problem, it made the investment thesis compelling with the founder quality.”
“I am excited about where this business can go in creating a category in the fintech space.”
Michael Christidis of Untitled says, “Untitled is excited to introduce Shouta to hundreds of thousands of young Australians through integrated event campaigns & activations.”
“We’ve witnessed the nano-gifting trend first hand through our insight into consumer behaviour & believe Shouta is the platform to be at the forefront of this movement.”
“We look forward to utilizing our vast national audience to continually support Shouta’s acquisition & growth strategies moving forward,” concluded Michael Christidis.
The Shouta app allows users to instantly gift or ‘Shout’ anyone in their phone contacts by sending them a link to a digital, prepaid Shouta Mastercard.
The reloadable card can be spent on the specific Shout the gift-giver has chosen, like a coffee, or on any item the recipient desires. The Shout is customised with a personal message and image from the gifter, creating a unique digital gesture.
Shouta has seen impressive market traction across its platforms with 50% user growth.
Shouts being sent in lockdown, and the launch of Shouta Biz, has resulted in a surge of business signups from companies like GigSuper, Aussie Home Loans, Cobild, and Parcelpoint.