Scaleup Mediafund, Australia’s only dedicated media for equity fund, has announced e-commerce platform Hey You as its latest investment recipient.
Hey You is a partnership of two start-ups – social media app developer Posse and mobile ordering and payment platform Beat the Q.
The platform connects food, bar and café outlets through personalised online relationships, offers the ability to beat the queue by ordering and paying online, and provides access to loyalty benefits and the discovery of new outlets.
Over the past two years, Hey You has developed a large growing customer and merchant base that has already processed its eight millionth customer order.
Scaleup Mediafund will work directly with Hey You to provide advertising inventory and assist with the execution of its first significant media campaign, with a focus on expanding the platform’s customer base and brand.
Michael Lamont, fund manager at Scaleup Mediafund, said: “Hey You is a fantastic opportunity for Scaleup Mediafund to ramp-up the growth of this great product and contribute to creating a large business.
“We will work with Hey You over the year to ensure that it gets the best outcome that our advertising fire power can deliver.”
Hey You CEO Shaun Cornelius said: “We are excited to be working with Scaleup Media Fund on our first major media campaign. Hey You has enjoyed strong organic growth to date, and now is the right time to build our brand awareness and grow our active customer base.
“The media investment by Scaleup Media Fund provides us with access to a significant, relevant media pool, as well as insights from the team.”
Scaleup Mediafund was established in August 2016 and is backed by News Corp Australia, NOVA Entertainment, FOX Sports Australia and the Ten Network.
The dedicated media-for-equity fund gives Australian start-up businesses access to advertising and marketing inventory to take their message to Aussie audiences in exchange for a minority shareholding.