SuiteFiles

SuiteFiles is a Saas business offering SMEs a specialist cloud-based document management system. They offer accountants an easy to use system for creating and organising important client files such as financial accounts, statements, emails, and spreadsheets. SuiteFiles raised $1m through Snowball Effect in November of 2018. Highlights for the quarter include:

Highlights for the quarter include:

• We achieved 99% of our budgeted revenue from direct subscriptions year to date. We are pleased with our progress for the quarter with our focus being on driving new customer sign-ups and new seats to meet our ARR targets, with our strategy for 2020 being aligned with this goal.
• Our monthly revenue churn remains low at 0.2% per quarter, which we take as a very positive sign that our products are being integrated well into businesses.
• There are now over 109 million files in SuiteFiles, with 438 million files in SuiteBackups. Our team continues to work closely with our customers and have migrated over 39 million files over to SuiteFiles systems.
• We are strengthening our focus for the year ahead in the Australian and New Zealand markets. Having had great traction and credibility in our current markets, we will be validating our sales processes here before expanding into new geographies.
• With our core product focus for the quarter being completed with the launch of our document signing and document sharing functionalities, our next step in the roadmap is building out an integration platform with other SaaS applications. This will help our customers connect with SuiteFiles with other apps they use, providing them with efficiencies.

View Offer

Zeffer

Zeffer is the largest independent, dedicated cider producer in New Zealand. The company raised $1.2m on Snowball Effect in June 2017 and closed another $2.4m round on Snowball Effect in June 2018. Highlights for the quarter include:

Highlights for the quarter include:

• We announced our Distribution Agreement with Lion New Zealand. This partnership commences in March 2020 with preparations beginning for this major step to align with New Zealand's leading alcohol distributor. Partnering with Lion was a key project in 2019 and we are very excited to work with them to build our domestic footprint and offer Zeffer to more customers throughout New Zealand than ever before.
• On the back of a successful trial launch in Q2, we have won ranging with Woolworth's Australia for the upcoming financial year. It's a big step for our Australian market plans and will position Australia as our primary export market for the year ahead.
• For the 12 months up to January 2020, we grew our total sales in New Zealand off premise outlets by 40%. We have seen increasing brand loyalty and this validates our intention to grow market share through the quality of cider we produce and product and packaging innovation, as opposed to dropping our price point to win customers.

View offer

Designer Wardrobe

Designer Wardrobe was founded in 2014 by Donielle Brooke as a New Zealand based fashion marketplace and has raised $1.7 million through Snowball Effect in May 2017, $900k in June 2018, and a further $1.9m in December 2019.

Highlights for the quarter include:

• We achieved record revenue for the quarter thanks to strong rental revenue performance, a record quarter in our P2P Marketplace with sales volume up 48% on the same period last year, and continuous growth of our member base.
• Our Direct Rental revenue was up 62% on the same period last year, with our rental ratio, a measure of total inventory versus monthly volumes, remaining solid as we grew our inventory.
• Our capital raise successfully closed with $1.9m committed. This provides us with a sufficiently funded plan to materially expand our rental dress portfolio and capitalise on initiatives within our Marketplace business.

View offer

Squirrel

Squirrel Group is made up of Squirrel Mortgages, Squirrel Money, and TenanSee. It is this unique combination of (proprietary) technology working alongside a strong brand and a growing market share of mortgage brokering that puts Squirrel in the right place at the right time to lead market disruption. Highlights for the quarter ending 31 December 2019:

• Mortgage settlement volumes for the quarter were up 16% against the same quarter last year and the year to date is also up 16% on prior year. The majority of the year-on-year increase can be attributed to the additional commercial lending achieved this year, although our residential settlements have started to see solid year-on-year increases on the back of strong residential property sales in Auckland during the December quarter.
• Total loans originated through our peer-to-peer lending platform grew by a further 14% in the latest quarter, with the active loan book growing 12%.
• The December Quarter saw the Group’s highest ever operating cashflow result, assisted by the first reimbursements received from our Callaghan Innovation Growth Grant.

View offer

Punakaiki

Punakaiki Fund is one of the most active venture capital investors in New Zealand, with investments in 20 high-growth companies. Punakaiki Fund raised over $3.2m through Snowball Effect, over three separate offers in 2015 and 2016.

• We closed investments with Weirdly, Conqa and Devoli during the December quarter. Weirdly’s investment is part of what we intend to be a larger commitment before the end of March 2020, and comes after a very strong year of growth. The Conqa investment was part of a $2 million round, and we now own 20% of the company, with the Devoli investment resulting in a 52.9% ownership of the company.
• The Investor Net Asset Value (“iNAV”) of the fund after all contingent performance fees at 31 December 2019 was $52,610,443 (or $22.37 per share), an increase from the 30 September 2019 iNAV of $46,471,176, but a decrease from the 30 September 2019 iNAV per Share of $22.93, reflecting the dilution from the October 2019 rights issue.
• $5,429,628 was raised from investors via a retail capital raising round and rights issue during October, November and December.
• We have met and continue to meet with a number of promising companies for investment, and are committed to invest at least $2 million into companies new to Punakaiki Fund.
• Our Portfolio companies continue to perform strongly. Some highlights include: Timely, reaching $1m in monthly recurring revenue for the first time; Vend, achieving a 90% customer satisfaction for Vend Support; Onceit, achieving the biggest ever sales month in November; Devoli, securing a number of material customers and a number of key hires.

View offer

Veriphi

Veriphi is a New Zealand company that has worked to develop a highly innovative laser-based analyser to verify intravenous drugs and alert clinicians before administration to prevent medication error in hospitals. Highlights for the quarter include:

Highlights for the quarter include:

• We closed our capital raise with $520k committed from existing and new investors to prepare for the next developments in our operations and hospital expansion.
• We are engaged with multiple interested hospitals in NZ for initial sales and expansion of recent trials into additional drugs. We are currently reaching out to Australian and US hospitals, reflecting our confidence in our product and as we seek first revenue opportunities.
• Following major performance improvements during the year, we have a compliant device that is performing well in hospital trials. In-house test results are shown below and represent a dramatic improvement over the last 6 months.

View offer

BePure

BePure Group is a leader in the scientific health and wellness space in New Zealand, supplying direct to consumer nutritional products, clinical services and wellness testing nationwide. BePure raised $2m through Snowball Effect in November 2019.

Highlights for the quarter include:

• We’ve had incredible growth in customer database over the quarter of 36% and maintained consistent subscription metrics over the period. This is due in part to the success of our new online subjective health questionnaires.
• The BePure Products business continues to grow faster than forecasted, particularly through our retail distribution network. This has demonstrated the strength of diversifying our distribution model.
• We signed a lease in December for a new warehouse located in the Hawkes Bay. This facility will provide us with much greater logistical capabilities in preparation for the numerous product launches that will be happening at the start of FY21. We began moving into this space in February.
• Following the close of the $2m capital raise through Snowball Effect in November, we invested in building out our CRM and marketing automation system and are happy with the progression that has been made so far. We expect to go live with the new system in late February.
• We received positive Net Promoter Scores for the BePure Products and Eve Health businesses of 39 and 45 respectively.

View Offer

Ossis

Ossis is New Zealand’s only orthopaedic implant company and focuses exclusively on the design and marketing of world class patient-specific orthopaedic implants. Ossis uses the latest digital image manipulation and design software and 3D printing in titanium to deliver life-changing treatments to patients. Ossis raised $1.5m via Snowball Effect in July 2019.

Highlights for the quarter include:

• We are making strong headway in the Australian market through our distribution partnership with Corin. As one of our focus markets, we continue to focus our efforts on developing our sales and customer networks there, as well as undertaking new product developments to take advantage of market opportunities.
• We continue to steadily build our European presence, including recently completed cases and expanding manufacturing sites across our different focus geographies.
• Ossis has secured funding through Callaghan Innovation for a major product development program. This assists towards the development of new products and the development of future unique IP for the business.

View Offer

Snowball Effect

Snowball Effect is an online investment marketplace. Our mission is to simplify investment into high growth Kiwi companies.

Highlights for the quarter include:

• December was Snowball Effect’s most active quarter in its history, with over $9.3 million in capital raised, including our largest raise to date in ArchiPro for $5m, a portion of a $2m raise for BePure, as well as portions from raises in Reefton Distilling Co., Designer Wardrobe, Zeffer and Veriphi. A total of $61m million has been raised as at the end of December 2019.
• Average investment this quarter was $18.7k from around 514 investors. Overall, the average investment amount to date is around $9.0k from 6,780 investors.
• The wholesale investor database has grown to over 2,075 members. Around 865 members have completed their Investor Profile and 334 have indicated an interest in becoming a director or advisor to growth companies.
• Snowball Effect is looking to expand our energetic and growing team. We are currently hiring for a number of roles within the business. Further details on the roles can be found via the careers page.