Salter Brothers Tech Fund leads in $4.9m investment in Marketboomer

• The Salter Brothers Tech Fund (Tech Fund) is pleased to announce the completion of an investment into Marketboomer Holdings Pty Ltd (Marketboomer).
• Marketboomer is a leading proptech business offering a B2B eProcurement software-as-service (SaaS) platform linking hotels and suppliers in the hospitality industry.
• The Salter Brothers Equities team originated and structured the transaction, the Tech Fund lead the investment with co-investment from various parties, advisors included Salter Brothers Capital and HWLE.
• This transaction involves providing primary growth capital for resources in the key Australian market and further expansion of the company in South East Asia and United Kingdom plus secondary capital for liquidity of existing investors.
• The Tech Fund and co-investors will own circa 20% of the shares in Marketboomer post completion.
• This is the second transaction by the Salter Brothers Tech Fund after being lead investor in Prospa take private scheme.

Established in Sydney in 1995, Marketboomer has expanded to have global presence across 23 countries, with over 10,000 active monthly users on the platform (buyers) and 20,000 active suppliers in the network. Marketboomer’s cloud-based digital eProcurement platform helps businesses grow by streamlining and optimising buyer-seller interactions is estimated to save customers 7-12% on purchasing and operations.

The proprietary platform PurchasePlus is a best-in-class B2B eProcurement SaaS platform for hotels internationally. It is 100% cloud-based and enables organisations to manage and automate purchasing, inventory and invoicing. It offers clients a secure one stop shop solution, with all of their suppliers and products in one platform. Global customers include IHG, Accor, Marriott, Capella and Qantas. The platform already services a large percentage of the existing portfolio of assets owned by the Salter Brothers Hotel Group with the partnership seeking to expand across the portfolio.

Gregg Taylor, Head of Equities at Salter Brothers commented, “Salter Brothers is looking forward to partnering with Marketboomer on the next exciting next stage of their growth journey. The business has achieved impressive historical organic revenue growth recently with less than 1% churn. The growth capital we have provided will allow an acceleration of this growth rate and further global expansion through the additional sales and customer success team resources”.

Malcolm Jull, CEO of Marketboomer added, “This is an extremely exciting investment partnership with a leading cornerstone investment group. Salter Brothers’ access to capital and international networks combined with Marketboomer’s leading edge capabilities will provide significant growth opportunities for the company and our team. The Salter Brothers team has a deep understanding of segment, competitors, suppliers and the hotel ecosystem, with access to economies of scale and revenue diversification through utilising their global network.”

The Marketboomer transaction represents the second investment by the Salter Brothers Tech Fund after entering into scheme to lead the take private acquisition of Prospa.