WYZA.com.au, one of Australia’s fastest-growing digital marketplaces for people aged 50 and over, has announced it is joining Equitise’s crowdfunding platform to raise $1 million.
For those who are unaware of how WYZA works, it basically connects the 9.2 million Aussies and Kiwis aged 50 and over to the products and services they seek.
CEO and founder Mike Farley said the round of funding will be invested in accelerating growth, product development and commercial partnerships, as well as doubling its subscriber database to 500,000 by December 2017.
“We will also be doubling down on our efforts to expand our NZ offering with this capital raise,” Farley added.
Mr Farley said the move to Equitise’s crowdfunding platform gives investors a golden opportunity to get involved in the 50-plus market who spend over $200 billion a year on goods and services and hold 40 per cent of Australia’s wealth.
Farley said the 50-plus audience spends $4 billion a week, but nobody is addressing them as.
“The WYZA generation is keen to live life to the fullest,” he said. “hey will live longer than any other generation before them, yet 88 per cent of them say they feel ignored or misunderstood by marketers.
“What we have learnt is that the old model of reaching people in this age group is broken. Remarkably, they spend an average of five hours a day on the internet, social media and their mobile phones.
“Against stereotype, 80 per cent of WYZA respondents have a positive attitude towards technology, 90 per cent have purchased online and 25 per cent do so on a weekly basis.”