Comestri Banks $15m in New Funding and Eyes Overseas Expansion
Comestri secures $15m funding led by Moelis Australia
We’re excited to announce that Comestri has secured $15m in funding led by ASX-listed Moelis Australia‘s growth capital fund.
The funds from Series B will help Comestri further invest and capitalise on the key strategic initiatives launched as part of our Series A capital raise including; ongoing development of the Comestri platform, expansion of operations internationally and support a growing network of implementation partners.
Moelis Australia Asset Management investment director Will Botha said the Moelis fund was excited to be supporting another successful business at the heart of the shift to eCommerce. “The team at Comestri have demonstrated their ability to provide a mission-critical software platform for eCommerce-enabled retailers. We were impressed by the growth the team has achieved within Australia, but also with the traction building on the global stage,” he said.
Comestri Co-Founder Frank Nesci said, “This exciting investment and partnership with Moelis will help us take our ecommerce technology to the next level, helping retailers optimise their operations and provide exceptional customer experience in this fast-evolving, digital-first market. The retail landscape is changing and Comestri is well positioned to meet and support the growing demands and expectations of retailers and partners, both domestically and internationally.
The proceeds of this capital raise will also be used to further to expand operations locally and into the UK, Europe, USA and Asia.”
Moelis added it views eCommerce as a growth area that the firm is excited to support through its investment funds. “eCommerce is only going in one direction and a software business that makes it easier to sell through multiple channels and fulfil those sales in a timely manner provides an exciting investment opportunity,” said Will Botha.
The Series B capital raise process was managed by Matt Rogers, Managing Director of Allunga and who helped secure the investment with Moelis.