Kiwi tech start-up goes global

9 Spokes CEO Mart Estall. Photo / Supplied
9 Spokes CEO Mart Estall. Photo / Supplied

New Zealand software firm 9 Spokes is rolling out its service on a global scale with major international bank Barclays becoming a channel partner.

9 Spokes is a New Zealand-based, ASX-listed company which provides small and medium-sized businesses (SMEs) a dashboard interface for all their software.

Users can access all vital information about business operations from the interface and get an overview of their metrics on any device. For example, a business could track the profit of a single day, and compare it to the same day the previous week.

Today 9 Spokes announced they are live with Barclays Bank, Propel by Deloitte, and Suncorp who, as channel partners, will roll out the service to their SME clients.

9 Spokes's quarterly Cash Flow Report showed the start of material cash receipts totalling $1 million in the three month period ending December, up from $150,000 previous quarter.

The company has also started accuring ongoing licence payments from channels representing more than $3m per annum of minimum recurring revenue over the six year contract tenure.

"We are proud of the progress we've made since we first went live in November. Both Barclays and Suncorp exceeded their initial expectations for customer uptake, demonstrating that our platform really does tick the boxes for SMEs in both the UK and Australia," said chief executive Mark Estall.

"A ramp up of promotional efforts in February by our large channel partners as well as the direct platform, are expected to achieve further positive results. Going global from day one is proving a success and we are looking forward to continued growth in the UK, Australia and over time the US."

Head of investor relations and business optimisation James Schofield said the Auckland-based company decided to list on the ASX because of the greater availability of capital and the Australian sharemarket fitted its global aspirations.

"It's something the big US banks recognise and like," Schofield said.

9 Spokes has around 70 staff in its Viaduct office and listed on the ASX in June last year.

- NZ Herald

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