Our final investment of our initial funds is for just under 5% of Timely.
Timely provides appointment booking services to beauty salons, hairdressers, spas, consultants and personal trainers. There is a little overlap with InfluxHQ, but Timely currently focusses on one client per appointment, and InfluxHQ on gym classes. Each company has consented to our investment in the other.
As Lance has stated previously we see that Timely has the potential to follow Vend and Xero as one of New Zealand’s great success stories, and our investment will provide more fuel for them to deliver on that promise. The portends are good – the company won a Highly Commended in the start-up category in the Hi-Tech Awards, and before that the 2013 Webstock Start-Up Alley. They are a very solid team with a high quality product delivering to an ambitious but acheivable growth plan, which echos results from the aformentiond companies.