NZ-based mobile ad tech company Postr has announced it has attracted $3 million from investors to expand into telecommunications markets in Australia and Southeast Asia.
Founded in 2014, Postr builds white-label apps for telcos which let people hire out their Android lock screens for advertising in return for mobile data or airtime from major mobile carriers.
It recently launched Optus Xtra with Aussie telco giant Optus and is set to launch telco-branded apps in major Southeast Asian markets.
Postr revealed in a statement that the capital raising was led by a group of private investors in Singapore and was well-supported by previous investors. Other investors included Gunung Sewu Group from Indonesia, K1W1, the New Zealand Venture Investment Fund, senior leadership figures from PayPal in the US, as well as individuals from Singapore and New Zealand.
Milan Reinartz, founder and CEO at Postr, said it was important for the company to find the right investors and to build a board that has an understanding of the telecommunications and advertising industries.
“New Zealand is a fantastic testing ground, but from a commercial perspective just too small a market to stay put. Our intention has always been to eventually grow globally, with an initial focus on large developing markets in Southeast Asia where Android is dominating and mobile penetration growing incredibly fast,” he said.
“Sponsored data is a phenomenon on the rise, with mobile data being the most sought after source of connectivity.