SYDNEY: Australian technology accelerator Scalare Partners (ASX: SCP) said on Monday it has acquired Planet Startup Pty Ltd, a Brisbane-based virtual CFO services provider, in a deal aimed at expanding its support for early-stage tech ventures.
The acquisition, Scalare’s fifth since April 2023, includes an upfront cash payment of A$150,000 and A$450,000 in escrowed shares issued at a 57% premium to the last closing price. Planet Startup’s founder and CEO Marc Orchard will remain in his role to lead future growth.
Founded in 2022, Planet Startup provides financial advisory services to tech founders from ideation to exit. The firm reported unaudited FY2025 revenue of A$408,000, up 28% year-on-year, with profit before tax doubling to A$50,000.
Scalare said the acquisition is expected to be EBITDA and cash flow positive from FY2026 and will consolidate its vCFO services under the Planet Startup brand.
“This acquisition marks another milestone in executing Scalare’s long-term strategy,” said Scalare CEO Carolyn Breeze. “Planet Startup is highly regarded for its professionalism and impact across the startup ecosystem.”
The deal follows Scalare’s recent acquisitions of Tank Stream Labs, Inhouse Ventures, Tech Ready Women, and the Australian Technologies Competition, reinforcing its position as a leading accelerator in the Australian tech landscape.
The transaction is expected to close later this month, subject to customary conditions.