Loyalty firm boosts capital, workers

Marcus Hoefliger.
Marcus Hoefliger.
Loyalty and e-marketing company EFTPlus needed two things to enter its next growth phase - funding and filling some capability gaps.

Both were achieved with a recent $500,000 capital raising through Ice Angels and the New Zealand Venture Investment Fund.

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 overseas.

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 early.

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''.

Add a Comment