Former stockbroker and Afterpay alumni raise $16m for new fintech venture.

TLDR:

• Luke Trickett, alongside two Afterpay executives, raises $16 million for fintech start-up Marmalade.
• Marmalade allows small- and medium-sized businesses to have their invoices paid on demand to solve cash-flow issues.

Former stockbroker Luke Trickett, in partnership with Afterpay alumni, has successfully raised $16 million for his fintech start-up, Marmalade. Founded in 2019, Marmalade offers a solution for small- and medium-sized businesses to have their invoices paid on demand, aiming to address cash-flow challenges. Trickett, who previously founded a fund manager, Blue Stamp Company, stepped away to become the full-time CEO of Marmalade.

The capital raise involved participation from existing investors Paloma Capital and several Queensland-based family offices. Marmalade integrates with popular accounting platforms such as Xero, Quickbooks, or MYOB, allowing businesses to push through sales or bring forward invoice payments for a one-time transaction fee. The goal for Marmalade is to process $1 billion of payments through the platform this year.

Trickett approached Paloma Venture Studio to build and launch the initial product, with the studio’s venture arm providing follow-on investment for start-ups. With a total of over $32 million raised from investors, Marmalade looks to utilize the new funding for customer growth and product development.