Online retailer MySale has successfully raised £5.1 million through a share issue, leading to a notable increase of 28% in the company’s share values. The investment has been made by the founders of Catch.com.au, one of the most renowned e-commerce players in Australia. The trio of Gabby Leibovich, Hezi Leibovich, and Nati Harpaz have taken up the opportunity to acquire 85.2 million new ordinary shares, equivalent to 10% of MySale’s existing issued share capital.

This influx of funds will serve as a catalyst for MySale to bolster its ANZ First Strategy, an initiative aimed at establishing a stronger presence in the Australia and New Zealand markets. Additionally, the company plans to use the investment to expand its marketplace platform, allowing it to offer a wider range of leading brands across various new categories. As of now, MySale operates retail sites in Australia, New Zealand, and Southeast Asia.

With the ongoing disruptions caused by the COVID-19 pandemic, MySale anticipates a significant shift towards online shopping. The company aims to leverage this long-term structural change and position itself for substantial growth. Over the past six months, MySale has demonstrated positive financial performance, maintaining a cash positive status.

Useful links:
1. MySale Official Website
2. Catch.com.au Official Website