Alex West resigns from Swoop following aggressive acquisitions and divestments
Swoop's chief executive is leaving the ASX-listed telco, with interim directors named, as its record of buyouts, divestments and fundraising draws sharp public criticism.
Startup
Geraldton, WA
Every investor coverage indicates participated in a round NodeOne raised.
| Investor | Rounds | Invested |
|---|---|---|
| Tattarang | Unnamed stage | - |
| CVC Emerging Companies Fund | Unnamed stage | - |
The transaction that ended NodeOne's run as a startup, per published coverage. It closes the funding history too, where it is the ladder's last rung.
| Bought by | Kind | Announced | Price | Sources |
|---|---|---|---|---|
| Stemify | Acquisition | 18 Feb 2021 | $61.3m | ARN (ARNnet) (Wed 26 May 2021), ARN (ARNnet) (Thu 18 Feb 2021) |
Companies NodeOne acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
| Name | Role | Sources |
|---|---|---|
| Richard Whiting | CEO | Startup Daily, ARN (ARNnet) |
| Richard Whitling | CEO | ARN (ARNnet) |
Stories naming NodeOne. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Swoop's chief executive is leaving the ASX-listed telco, with interim directors named, as its record of buyouts, divestments and fundraising draws sharp public criticism.
Sydney IT consultancy Cloudwerx has raised $7 million from CVC Emerging Companies Fund, its first external capital, to fund expansion, double staffing and pursue acquisitions.
Dark fibre provider FibreconX has secured investment from Andrew Forrest's private investment group Tattarang, supporting planned network expansion into Melbourne and Brisbane; Tattarang previously backed telco NodeOne in 2020.
Australian fixed wireless carrier Swoop Telecommunications debuts on the ASX under ticker SWP after a $20 million underwritten capital raising, having earlier completed a $61.3 million reverse takeover via Stemify.
Also ARN (ARNnet)
Roundup: Facebook blocks Australian news publishers including Startup Daily; Deliveroo loses a Dutch rider classification appeal; telco Swoop agrees a $61.3 million reverse takeover with Stemify to reach the ASX; NBN paid executives bonuses.
Also ARN (ARNnet)·ARN (ARNnet)
Swoop Telecommunications and NodeOne are to list on the ASX via a $61.3 million reverse takeover with Stemify, backed by Tattarang and founders James Spenceley and Tony Grist, plus a planned $20 million raise.
Also ARN (ARNnet)
Andrew Forrest's family investment firm Tattarang has taken a majority stake in payments startup Azupay and invested in GLX Digital's Series A alongside Woodside Energy and Shell Ventures, while also backing telco NodeOne.
Western Australian fixed wireless provider NodeOne received investment from Tattarang and CVC to expand its network and business offering; the Forrest family also previously took a stake in Swoop.