Scalare Partners becomes first tech accelerator to list on ASX

Scalare Partners has commenced trading on the Australian Securities Exchange (ASX), marking it as the first early-stage technology accelerator to list.

Scalare Partners, known for providing investment, products, services, and expert advice to early-stage technology companies, has made its debut on the ASX. This move comes after the successful completion of its ASX Share Offer.

The company aims to support founders of early-stage, revenue-generating technology businesses by helping them scale their sales and operations. Through its data-driven platform, Ascend, Scalare delivers a diagnostic tool that aids founders in identifying critical challenges and offers customised solutions.

"Scalare's listing on the ASX represents a transformational step for the company and the broader tech sector. As the first tech accelerator to list in this country, we offer a comprehensive ecosystem that integrates investment, expert guidance, and an advanced diagnostic platform, alongside community initiatives designed to drive startup growth," stated Carolyn Breeze, Chief Executive Officer of Scalare. "Our model addresses a critical need to support early-stage tech companies, particularly in the face of potential changes to investor laws, tighter capital markets, and liquidity challenges. We provide an attractive alternative to traditional venture capital, offering the resources tech startups need to scale effectively."

The funds raised, amounting to AUD $4.3 million, will be deployed in expanding existing portfolio companies, investing in new ventures, fast-tracking technology development, and providing working capital. The capital raise was supported by new and existing investors, as well as by the board and executive team, which collectively hold a 62.2% share in the company.

Scalare plans to use these funds also to expand its initiative Tech Ready Women (TRW) nationally, and establish a US office. The company's initiatives, including TRW and the annual Australian Technologies Competition (ATC), are aimed at fostering innovation and growth within the technology community, offering Scalare additional revenue and investment opportunities.

In financial terms, Scalare reported a services revenue of AUD $1.99 million for the fiscal year 2024, reflecting a 64% increase year-on-year. The company has achieved investment returns of 198% since its inception in 2020.

"The strong backing from both new and existing investors positions us for the next phase of growth, offering them an opportunity to invest in a proven model that is shaping the future of tech innovation and scaling companies globally," added Breeze.

Novus Capital Limited acted as the Lead Manager for the offer, and Scalare shares are expected to commence trading under the ticker SCP.