Loyalty and e-marketing company EFTPlus needed two things
to enter its next growth phase - funding and filling some
Both were achieved with a recent $500,000 capital raising
through Ice Angels and the New Zealand Venture Investment
Auckland-based Marcus Hoefliger, who co-founded the company
with Dunedin man Julian Cox, was delighted with the recent
board appointments of former ASB executive Peter Hall, who
brought ''a lot of knowledge'' in the loyalty payment space,
and Steve Lobb, who has been appointed chairman.
Mr Lobb was the founding chief executive of Fly Buys and then
went on to work for United Kingdom loyalty card scheme
Nectar, now owned by Aimia, before taking up consultancy.
He was coincidentally a client of EFTPlus and it was a ''huge
coup'' to have him on the board, Mr Hoefliger said.
Having both men on board brought a ''lot of smarts'' to the
company, whose service was launched in November, 2011.
Since then, it had transacted about half a billion dollars
worth of business, had about 110,000 members in New Zealand
and more than 100 clients on its books.
EFTPlus has developed software and systems that allow
any-sized company to have its own loyalty programme, using
payment cards as the customer identifier.
Mr Hoefliger, who has a Master of Entrepreneurship and a
commerce degree from the University of Otago, was also
delighted with the capital raising, saying initially they
were looking for $350,000.
He believed the main reasons the latest investors came on
board was the credibility EFTPlus now had in the market,
which included partnerships with Paymark and the BNZ.
It was also doing some work internationally, including having
clients in Indonesia, and was looking for further markets
In going international, having the right expertise was
crucial, Mr Hoefliger said.
A lot had been learned since the company's launch and they
had not initially expected to hit the international market so
Mr Cox remained in Dunedin, where his focus was predominantly
research and development and also some technical support.
Mr Hoefliger said he was still using many of the networks he
came across in his Master of Entrepreneurship studies.
He was looking forward to the next stage of the business,
saying ''we just want to keep pushing the boundaries on and
on and on''.