Inamo finds Ozzie Investors and Mentors to back it for $1.5m
Trevor Folsom and Creel Price’s “Investible” invests $1 million of a total $1.5 million in Australian-based global wearable payments and applications start-up INAMO.
Investors, supported by government incentives are making it attractive for Australian investors to access and invest in great businesses.”
INAMO invented the CURL, a waterproof wearable that one can attach to a watch, fitness band or keyring and use to make contactless payments on the go.
Founder Peter Colbert,Said that it is critical that Australian businesses have opportunities to connect with international investors and consumers, and values highly the support and network of his mentors and support group.
Such a network can secure introductions and opportunities around the world allowing our technology to shine.
Price and Creel together with Investibles director of investments Hugh Bickerstaff, recognise that the key is to back the founder and then the technology – of course with a global business model.
And what are the qualities that they look for in a founder – that Peter clearly has…
Energy, passion and commitment, with an in depth understanding of his target market.
“There’s also significant opportunity for INAMO in the US market, which doesn’t yet have contactless payments, and we’re excited to see how the business unfolds” says Bickerstaff
Other investments recently made was $1.3 million in US-based BUCKiTDREAM late last year and also participated in the US$4.2m Series A capital raising round of Booksy – a SaaS start-up for appointment-based businesses, based in Poland.