Scalare lands $1.45M convertible note, opens Brisbane site and launches EquityRoom
What's the deal? Scalare Partners Holdings (ASX:SCP) received $2.07 million (about $1.45 million) under a post-IPO convertible note facility with The Blackstone Mercantile Group Ltd. SACDealroom has a profile for this one. Try Dealroom → during the September 2026 quarter. The company disclosed the drawdown alongside a Brisbane workspace opening, an investment in AI company AuricDealroom has a profile for this one. Try Dealroom →, and the launch of its EquityRoom fundraising platform.
The money: The facility has a face value of up to $25 million, with $5 million committed; a second instalment of $1.5 million is due by October 30 and a third of at least $1.43 million by November 30. Shareholders approved the note issue and a 1-for-60 capital consolidation with more than 99% of votes in favour at the August 4 meeting. Scalare ended the quarter with $0.55 million in cash and $3.53 million in total available funding.
What's the endgame? Scalare combines founder services, workspace, and selective investing. The quarter's moves extend each strand of that model at once.
The expansion: Tank Stream Labs opened a Brisbane site, its eighth location across four Australian states and its first in Queensland. Scalare expects the site to turn EBITDA- and cash-flow-positive in FY27.
The product: EquityRoom, described as the group's startup fundraising and equity management platform, launched with 11 paying customers and 35 more on trial. It could add recurring subscription revenue, though conversion and growth—not the launch itself—will be the real test.
The investment: Scalare also backed Auric, a Sydney company developing an AI-powered scent platform. Auric set up its Scent Lab at Tank Stream Labs' Merchant House location, tying the portfolio company into the group's workspace network. The company described the investment as immaterial, with no terms disclosed.
By the numbers: Customer receipts for the quarter were $5.25 million, broadly in line with the June quarter's $5.29 million. Statutory net operating cash inflow was $1.92 million.
The signal: Australia's September-quarter startup funding hit a record US$2.72B, but one US$1.84B deal accounted for most of it, leaving smaller rounds a thin slice. Scalare's quarter reflects a more modest reality: a services-and-workspace operator funding growth through a convertible facility while it tests new revenue lines.
Read more: kalkine.com.au
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