GoFetch secures venture capital backer!


GOFETCH SECURES VENTURE CAPITAL BACKER

Peer-to-peer goods delivery business GoFetch has found a white knight backer, who will help fund expansion in Australia, New Zealand and south east Asia in the coming year.

To recap, GoFetch hired boutique adviser Lempriere Capital earlier this year, to help secure a new investor and capital injection and end the company’s run of funding troubles.

The search has landed on venture capital and private equity firm Thundering Herd, which has developed its own proprietary technology to help identify, assess and invest in companies ranging from early stage start-ups through to private and publicly traded stocks.

Delivery service GoFetch told potential investors its platform had handled more than 16,855 jobs for 5500 customers across Victoria, NSW and Queensland.  AFR

Thundering Herd Director Joe Galvez confirmed the move in a statement to Street Talk.

“Thundering Herd is really excited about the GoFetch opportunity, as it gives us an opportunity to further advance an already well established company using the operational, financial and commercial resources that we can make available to Thundering Herd associated companies,” he said.

GoFetch plans to launch in the ACT, Tasmania, South Australia and Western Australia later this year, and New Zealand and south east Asia soon after.

As part of the sale process. interested parties were told GoFetch’s platform had handled more than 16,855 jobs, and had 5500 customers and 4003 ‘fetchers” registered across Victoria, New South Wales and Queensland.

*Originally published in the Australian Financial Review