Loopit, a leading Australian subscription mobility platform, announced that it raised AUD 3.6 million in a seed round.
The round was led by early-stage venture capital firm Tidal Ventures, with participation from Upswell Ventures and Luxem.
The fresh capital will enable Loopit to expand its headcount, accelerate revenue growth, continue its global expansion, and fund further development of its market-leading proprietary technology.
Company: Blinker Subscription Pty Ltd.
Round: Seed Round
Funding Month: June 2022
Lead Investors: Tidal Ventures
Additional Investors: Upswell Ventures and Luxem
Company Website: https://www.loopit.co/
Software Category: Subscription Management and Billing Solutions
About the Company: Founded by brothers Michael and Paul Higgins, Loopit is a Software-as-a-Service (SaaS) platform and professional services company that drives car subscription management and billing solutions for automakers, dealerships, and startups. Loopit’s SaaS platform facilitates the end-to-end subscription process, handling both the customer-facing touchpoints and the back-office management required to offer a car subscription to customers simply and easily. Loopit has experienced tremendous success since launching in early 2019 and has expanded into New Zealand in 2021 and into the United Kingdom in 2022. It currently powers the majority of car subscription providers across Australia and New Zealand and has seen a massive 320% increase in new car subscriptions over the past six months compared to the preceding period.