A $25 million guess on fintech DASH has proved profitable for ASX-listed enterprise fund Bailador Expertise Investments (ASX:BTI), with the VC saying a 59% uplift to $44.7m.
The rise is the results of a brand new yet-to-be introduced elevate for the Sydney fintech, which has been signed at a 59% improve in DASH’s valuation.
DASH is a cloud-based monetary recommendation and funding administration software program platform for monetary advisers and establishments to offer extra reasonably priced, personalised recommendation to purchasers. It now has greater than $18 billion in funds beneath recommendation, a rise of 450% on a yr in the past
Sprint Expertise Group was created three years in the past when Wealth02 and Roar Software program merged, occurring to beforehand elevate capital in December 2022. Bailador cofounder David Kirk sits on the board.
The rise in worth comes 12 months after Bailador first invested $20 million within the fintech as a part of a $22m elevate – $15 million then and one other $5m in January this yr. The fund adopted up in October 2024 with one other $5m fairness funding, in addition to $5m in a repayable debt facility for Sprint to amass Built-in Portfolio Options (IPS)
The 59% uplift applies to Bailador’s $25m fairness funding solely, delivering a blended improve of 49% ($14.7m) on the whole carrying worth which represents a rise in Internet Tangible Property of $0.099 per share (pre-tax).
David Kirk stated DASH “has made very pleasing progress” within the 12 months since Bailador first invested.
“This new funding and valuation uplift is a mirrored image of that progress,” he stated.
“Pleasingly, the enterprise has put in place robust foundations for future development and is nicely positioned within the wealth administration trade which advantages from enticing tailwinds.”
Bailador’s funding portfolio spans 11 tech firms, together with SiteMinder, UpDoc, Mosh, $12.5m to steer a $25m Sequence A for actual property funding platform PropHero earlier this yr, and a $12.4m funding in volunteer administration software program platform Rosterfy.