Optimizer HQ raises $4 million

Auckland technology company Optimizer HQ has raised $4 million from new local and overseas private investors.

The company announced last month that it intended to list on the NZX and today chief executive Manas Kumar said that was still the plan and he expected a prospectus could be issued in about three months.

However, he said the company needed cash now to fund its international expansion.

Optimizer HQ employs about 60 staff in Auckland, the Philippines and Hong Kong, and Kumar said he was about to hire six more for its Canadian office.

The company sells hardware and software that lets retailers process credit card transactions wirelessly using smartphones, and a USB hardware token designed to make it easier for firms to provide staff with secure remote access to their corporate networks.

It is understood the NZX has advised some technology companies that listing can be cost-effective if they are seeking to raise at least $30m in new capital.

Kumar would not confirm how much Optimizer HQ might seek and said there were other reasons for listing the business on the exchange.

"It will provide a solid foundation and bigger profile for the company and the mechanism for us to make future acquisitions," he said.

He was not immediately able to confirm the exact size of the stake in the firm the new investors had acquired through the equity raising that was announced today.

The new investors were successful businessmen and entrepreneurs but none were "celebrities", he said.

About 15 per cent to 20 per cent of the fresh capital had come from overseas, Kumar said, with the remainder from New Zealand investors.

BusinessDay.co.nz