Scaleup Mediafund, Australia’s only dedicated media for equity fund, announced the e-commerce platform Hey You as the latest investment recipient.
Hey You is a partnership of two startups – the social media app developer, Posse, and the mobile ordering and payment platform, Beat the Q. The platform connects food, bar and café outlets through personalised online relationships, offers the ability to beat the queue by ordering and paying online and provides access to loyalty benefits and the discovery of new outlets.
Over the past two years Hey You has developed a large growing customer and merchant base that has already processed its eight millionth customer order.
Michael Lamont, Scaleup Mediafund fund manager, said, “Hey You is a fantastic opportunity for Scaleup Mediafund to ramp up the growth of this great product and contribute to creating a large business. We will work with Hey You over the year to ensure that it gets the best outcome that our advertising fire power can deliver.”
Scaleup Mediafund will work directly with Hey You to provide advertising inventory and assist with the execution of their first significant media campaign with a focus on expanding the platform’s customer base and brand.
Scaleup Mediafund was established in August 2016 and is backed by Australia’s largest media creators, News Corp Australia, Nova Entertainment, Fox Sports Australia and Ten Network. The dedicated media-for-equity fund gives Australian startup businesses access to unrivalled advertising and marketing inventory, to take their message to Australia’s biggest media audience, in exchange for a minority shareholding.
Scaleup Mediafund will invest in a limited number of businesses each year and invites companies to apply for consideration via scaleupmediafund.com.