Dunedin and Wellington-based social enterprise Thankyou Payroll is set to launch an equity crowdfunding campaign on PledgeMe next month. The company is seeking funds as it prepares to expand.
Since its launch in 2010, Thankyou Payroll has provided a cloud-based payroll intermediary service to businesses and charities. CEO of the company, Christina Bellis, stated over the past three years Thankyou Payroll has grown 700% and is now supporting more than 4,300 companies and organizations. It has also gifted over $80,000 to 80 organizations throughout New Zealand, including Kaibosh Food Rescue and Port Chalmers Golf Club through the Thankyou Charitable Trust. Bellis revealed:
“We believe that we can create great jobs, be financially successful and do good at the same time. With solid revenue growth over three years, a dedicated team, a strong board, and thousands of happy clients we believe that, with our crowds support, we can accelerate our growth and continue to improve our service offerings and increase our community giving. These changes will push an estimated 60,000 organisations into the intermediary space. It’s an incredible opportunity and we intend to be ready for it.”
Thankyou Payroll will be looking to raise $400,000 at $1 per share with a minimum investment of $500. Bellis also noted:
“Up until now, our client growth has been organic but with new funding we will be able to implement a comprehensive and high level marketing strategy, grow our team, and finalise our next version of the product.”
“Thankyou Payroll embody how technology can be used not only to support communities in an administrative sense, but also fund community work in a participatory way. They are also a strong team, led by a female CEO and a gender-balanced board, with progressive, forward looking policies, and holistic support for the team and their community. I truly believe their model is the future of business.”
Funds from the campaign will be used for development, grow Thankyou Payroll’s team, and market the company’s software in preparation for upcoming IRD changes around payroll processing. The initiative is set to go live on April 7th.
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