Herbert Smith Freehills’ private equity and venture capital team has advised Colinton Capital Partners as lead investor in Moneytech’s A$25 million capital raise.
Founded in 2003 by Managing Director Hugh Evans, Moneytech is an end-to-end financial services provider in the non-bank market, providing finance and payments offering to businesses driven by its proprietary technology including through Monoova Payments, Moneytech FX and Moneytech Finance.
The Herbert Smith Freehills team was led by partner and Co-Head of Venture Capital Clayton James, Co-Head of Venture Capital (Australia) Elizabeth Henderson, partner and senior adviser Mark Rigotti, senior associate Calvin Shaw and solicitor Shonie Kaushik with support from partner Nikki Smythe, consultant and Head of the Australian Banking Regulatory team Tony Coburn, and solicitors Darran Devlin and Anjelica Balis.
Elizabeth Henderson said, “We were delighted to work again with Colinton Capital Partners, supporting its investment in tech and fintech. Congratulations to Moneytech on the successful raise.”
Partner at Colinton Capital Partners Genevieve Gregor said: “The team at Moneytech Group has built a profitable and consistent business and we are excited to be involved in the next growth phase of the business. Thank you to the team lead by Elizabeth and Clayton at Herbert Smith Freehills for their clear and concise advice and stewardship through the due diligence and capital raising process.”
This deal is another example of Herbert Smith Freehills’ market-leading work in Australian fintech, venture capital raises and non-controlling stake transactions. Other recent examples include:
- King River Capital on its investment in Lexer’s A$33.5 million Series B capital raise;
- Grok Ventures on its investment in Brighte’s A$100 million Series C capital raise;
- Kasada on its A$15 million Series B capital raise;
- Nano Home Loans on its A$33 million capital raise; and
- Limepay’s A$21 million pre-IPO capital raise.