Queenstown SAAS firm Loaded raises $3.25 million in capital to improve performance in global hospitality industry – NZ Entrepreneur Magazine

A prominent hospitality software business in Queenstown loaded After raising $3.25 million in a combination of equity and debt, it plans to make its first entry into Australia in early 2023 and is launching a global campaign.

CEO Richard McLeod said Trans-Tasman is the first step in a global expansion that is expected to progress rapidly after market traction is achieved in Australia.

“With 900 customers who have shown significant improvements in profitability and efficiency by adopting Loaded, and very few competitors in the global market, we are very excited about the opportunities ahead. doing.”

Invest South, a local investment fund, will be a major participant in the financing and will also appoint Loaded’s board of directors.

“We are delighted to have found a company with Loaded’s capabilities here in Queenstown. We strongly believe in the journey they are taking to improve performance across the hospitality industry. No.” Prue Halstead.

Other local private investors also invest directly or through a mainland angel investor network.

Loaded has also received support in the form of a $1.25 million loan from MBIE through the Queenstown Economic Transformation and Resilience Fund (QET Fund) managed by the Kānoa – Regional Economic Development & Investment Unit.

“MBIE’s support, in addition to the significant capital increase, positions us to invest further as a company founded by Queenstown natives to build our critical product and development team almost entirely in Queenstown. It means that,” he said. MacLeod.

Loaded was originally developed as a central management system by Cook Brothers Bars when its founders, Richard McLeod and James Arnott (both from Queenstown), purchased the Captain Cook Tavern in Dunedin during their senior year of college. is famous for

“Cook Brothers Bars has expanded into a national hospitality group and James is still at the helm today. Given that, I think there is an irony in the fact that our ambition today is to have a profound impact on the performance of the entire hospitality industry around the world.” MacLeod.