Australia: LayAway, Canva and Curo close funding rounds

Former Fisher and Paykel COO Andrew Paykel is launching new startup LayAway with $750,000, Canva has closed a $15 million round and Curo has closed an investment from HCF.

LayAway launches with $750k seed

Former Fisher and Paykel COO Andrew Paykel has launched travel deposit startup LayAway with a newly acquired AUD$1 million ($750,000) funding. The startup’s launch comes 18 months after Paykel left the family business. He began building the startup during this period.

The funding originates from LayAway director Peter Russell, a diversified consortium of investors as well as  Paykel himself. The funding will help the startup get through the initial two-year delay in revenue caused by its business model

LayAway aims to offer travel packages on “layby, a system of paying a deposit to secure an article for later purchase. Customers will be able to pay for the trips in weekly, fortnightly or monthly payments with no deposit or interest, and are able to book up to 24 months in advance.

Basic travel packages include airfares, accommodation and transfers. Customers are able to select from a range of add-ons including theme parks and extra spending money to be put aside.

Canva closes $15m round

Sydney-based graphic design startup Canva has closed a an AU$20 million ($15 million) investment from a group of investors led by Silicon Valley-based firm Felicis Ventures and Australian VC firm Blackbird Ventures.

This latest round of funding grants them a post-money valuation of $345 million and places their aggregate equity financing raised to date in excess of $40 million,

Launched three years ago, Canva now claims a user base of 10 million across 179 countries, with 100 million designs created through its graphics platform. the company is benefiting from a trends towards using visualisation to communicate concepts and information.

Curo closes $747k investment from HCF

Melbourne-based Curo Technologies, which aims to improve elderly healthcare, has scored an AU$1 million ($747,555) investment from non-profit private health fund HCF.

Incepted by Tim McDougall and brother Matt McDougall, Curo offers passive, non-intrusive sensors that pick up positive and problematic behaviour in seniors’ homes. This provides caregivers and families data on their movements and wellbeing, reducing stress involved in monitoring the health state of elderly individuals.

Prior to the investment, the co-founders had participated in the HCF accelerator, establishing a relationship with the organisation. The capital injection will provide access to strategic partners in healthcare and accelerate its growth.

Speaking on the investment, HCF’s chief strategy officer Sheena Jack said, “HCF has a keen interest in not only the business but the greater goal of enabling people to live independently, for longer.  We are delighted to be investing in Curo, which we believe can make a real difference to the lives of Australians – we look forward to watching them grow.”

Currently, the venture is exploring the development of a presence in the US, as well as planning to conduct pilot programmes in Australia. It recently secured Medibank as as major partner.

Also Read:

Australia: AirTree Ventures closes $250m venture fund

Australia: Marketing tech firm Simple secures $10m funding from SparkLabs, Perle Ventures

Australia Digest: RedEye gets $250k; CPP IPO on ASX; NSW sets up startup grants

Australia: Listed fintech venture firm H2Ocean to raise $55m fund

Australia: Mentorloop closes seed round; Investible launches new angel program

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.