Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Brokerage firm LINK raises a further $3.4M in capital

The country’s leading, and world’s largest business brokerage firm, LINK, has completed its second successful capital raise, raising a further NZ$3.45m.

The initial target - set at NZ$3.25m - was bolstered by enthusiasm from internal staff, executives, brokers, directors and external investors, and enabled LINK to exceed expectations, with an oversubscription of NZ$200,000. This follows LINK’s first capital raise round in August 2017, where the business secured NZ$3.14m.

This latest private raise, via online investment platform Snowball Effect, saw half of the investment come from the company’s internal team members and board while the other half was sourced from independent investors looking to capitalise on a strong cash flow positive business.

“There aren’t many companies raising capital who have stable revenues underpinning the core business. We have a proven model which has been scaled throughout the world, so this was a sort of ‘unicorn’ opportunity,” says Aaron Toresen, LINK CEO.

Toresen began leading the firm in 2005 - following its establishment as an Auckland-based boutique business brokerage in 1996. Under Toresen’s stewardship, the firm grew exponentially, with the company now employing over 450 brokers in five countries, and owning the largest business brokerage in California.

LINK shows no signs of slowing down, with the external equity already being put to good use. The firm recently purchased the largest business brokerage in Melbourne, sold four new territory franchises in the United States, another in the Philippines and an additional franchise here in New Zealand.

The remaining funds will be utilised to drive further key acquisitions and franchise expansions, along with developments in its web and IT and to support its recruitment efforts. LINK has hired more than 20 brokers between July and November this year in New Zealand alone, and its office in Los Angeles has expanded from 22 to 38 brokers within the same period.

“Our strategy is clear, defined and easy to understand. LINK is over double the size of its closest competitors in New Zealand, which gives us the strategic advantage which investors appreciate,” says Toresen.

Simeon Burnett, CEO and co-founder of Snowball Effect was pleased with the raise and the response from both new and existing investors.

“A good number of experienced investors found the LINK offer compelling with plenty of reasons to back it. They exceeded what they said they were going to after their previous offer, and this saw an excellent response from existing investors and also those that were new to the opportunity,” he says.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Stats NZ: Election Boosts October Job Numbers

Job numbers were boosted by general election staff in October 2020, along with rises in the manufacturing, retail, and hospitality industries, Stats NZ said today. Filled jobs rose by 27,667 to 2.2 million in October 2020 compared with September, after ... More>>

Government: New Year Border Exception For Seasonal Workers In The Horticulture And Wine Industries

2000 additional RSE workers to enter New Zealand early next year employers must pay these workers at least $22.10 an hour employers will cover costs of managed isolation for the RSE workers RSE workers will be paid the equivalent of 30 hours work a week ... More>>


Grey Power: Is Disappointed To Learn Of More Bank Closures

Many older people are being left without essential services because of cost cutting and the march of modern technology. It is now expected that most banking transactions can occur via the internet or telephone. Jan Pentecost, President of the Grey Power ... More>>


Media: Discovery, Inc. Completes Acquisition Of New Zealand’s Mediaworks TV Ltd

Auckland, New Zealand, December 1, 2020 - Discovery, Inc. (“Discovery”), the global leader in real-life entertainment, has completed its acquisition of New Zealand’s leading independent free-to-air commercial broadcaster, MediaWorks TV Ltd, now operating ... More>>

Department Of Conservation: Big Year Underway At Albatross Colony

Familiar faces are returning for the new season of Royal Cam, with a big breeding year underway for the toroa/northern royal albatross colony on Otago’s windswept Pukekura/Taiaroa Head. More than 120 albatrosses, a taonga species, have returned ... More>>

Real Estate: ASB Survey Reveals Majority Of Kiwis Expect House Prices To Keep Climbing


House price expectations are soaring as New Zealand’s housing market shifts up a gear. But stretched affordability is putting a dent in perceptions of whether it’s a good time to buy. While Kiwis reveal they do expect interest rates to fall further. ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>