Priya PatelTLDR:
- Luke Trickett, former stockbroker and Australian national swimmer, raised $16 million for his fintech start-up Marmalade.
- Marmalade allows small- and medium-sized businesses to have their invoices paid on demand to alleviate cash-flow challenges.
Former stockbroker and Australian national swimmer, Luke Trickett, along with two former Afterpay executives, raised $16 million for their fintech start-up, Marmalade. The company, founded in 2019, provides a platform for small- and medium-sized businesses to have their invoices paid on demand in order to address cash-flow challenges. Trickett, co-founded Marmalade with David Whiteman and Richard Johnson, early employees of Afterpay. The start-up was originally founded inside Trickett’s fund manager Blue Stamp Company, but as Marmalade grew, he transitioned to becoming its full-time CEO. The latest capital raise was led by Blue Stamp Company, with existing investors Paloma Capital and several Queensland-based family offices also participating.
Since the inception of Marmalade, the company has raised more than $32 million from investors. The platform integrates with cloud accounting software like Xero, Quickbooks, or MYOB and allows businesses to either push through sales or bring forward invoice payments from customers for a one-time transaction fee. The capital raised will be used to fuel new customer growth and product development, aiming to process $1 billion worth of payments through the platform in the coming year.
