Company Interview / Scaling up in the startup ecosystem

Key points:

Scalare Partners (ASX: SCP) acquires Planet Startup, a virtual CFO providerThe acquisition bolsters Scalare’s integrated service offering for startups and scale-upsRecent additions to Scalare’s portfolio include Australian Technologies Competition and Tank Stream LabsBoth Breeze and Orchard foresee robust growth and innovation in Australia’s startup ecosystem

Scalare Partners (ASX: SCP) has acquired Brisbane-based virtual CFO provider Planet Startup, expanding its reach in the Australian startup and innovation sector. Carolyn Breeze says the acquisition aligns with Scalare Partners’ ambition to build a suite of brands that support startups and scale-ups, particularly in their early years. She highlights Planet Startup’s successful track record providing virtual CFO services to high-growth tech companies as a perfect fit for Scalare’s growth strategy. Breeze outlines the portfolio’s breadth, referencing previous acquisitions such as Australian Technologies Competition, the female-focused Accelerator program, In-house Ventures, and Tank Stream Labs, which have established a network of co-working spaces and services tailored to startups.

Marc Orchard states that joining forces with Scalare Partners presents a unique advantage for Planet Startup’s clients, offering expanded support in investment and fractional services. Orchard believes the partnership will provide clients access to broader resources, supporting their journeys from raising capital to commercialising their ventures.

Both Breeze and Orchard see early-stage Australian tech as being at the cusp of significant expansion. Orchard observes that while Australia’s tech ecosystem is still maturing, local startups are achieving notable returns and initiating impressive innovation. He points to the increasing impact of AI-driven businesses and a surge in investor interest as signs of a vibrant next phase for the sector.