blueshyft

Physical retail for your digital business

  • Financial Tech
  • Australia
  • October 2014
  • 10-20
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blueshyft

Physical retail for your digital business

$2,100,000
Raised
STILL ACCEPTING INVESTORS
of$2,000,000

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Profile

Highlights

  • $2.2m in Gross Revenue in the first year of trading
  • 3 Global Enterprise clients - TNT, Ladbrokes and NewsCorp
  • Currently operational in 1200 retailers across Australia

Business Summary

blueshyft is a software and hardware platform installed in over 1,200 retailers across Australia. Over 500,000 consumers pass through these locations each day. Our platform enables businesses to sell their digital products and services in physical locations without the typical overheads of running a retail network.

Without a retail presence, differentiating a brand online is expensive and time-consuming. Unique and disruptive products and services take longer to gain traction than most people realise. It can take years of trial and error to gain enough traction to become an “overnight success”. Access to a physical retail network also enables efficiencies across a number of areas for already established businesses and brands.

The blueshyft network allows businesses to gain traction quickly by placing their products into physical retail locations on a transactional basis. Whether it is a wagering company looking for an alternative payment mechanism and brand exposure or a Bitcoin exchange that wants the provide their customers the trust of face to face transaction. For larger businesses a network of retail stores where can place their products but only pay for what they use can enable new ways of doing business that significantly improve their efficiencies and bottom line. Whether it is a large logistics player like TNT looking to reduce failed delivery costs or a global publisher like NewsCorp looking for effective ways to de-anonymise their customers.

Our business model is a retail network as a service. This is a unique form of a Platform as a Service, the model revolves around a native iPad App running on a modern CMS platform call keystone. Through this we have created a unified and homogenous network out of 1200+ independent businesses. This means we can accommodate and promote a range of services from payments to logistics to customer verification and activation. The number of unique products and services that can be facilitated through a platform and network like this is practically unlimited. We have a huge first mover advantage that has allowed us to establish ourselves quickly and to consolidate our hold on the network. Our client contracts have been 36 months and often have provisions around exclusivity with upfront and guaranteed payments.

Current traction is healthy and has grown over 100% in the last year to monthly re-occuring revenues of $124,000. We have 5 total paying customers on platform which will grow with an additional 4 currently in development.

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Management

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Kain Warwick

Co-Founder and CEO
Kain has over 15 years of retail and startup experience, including 3 years as a Harvey Norman franchisee and as founder of two retail startups. Having begun his IT career as a developer in his twenties, Kain’s entrepreneurial drive saw him move to Seattle to join a startup in the early 2000's. His exceptional project management work at several high profile businesses, such as Qantas and UXC, saw him welcomed into blueshyft to guide the concept, strategy and business model before being offered the role of CEO for launch.
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Matt Handbury

Chairman & Foundation Investor
Matt has spent his life in media and transformation. Starting at News Corporation, Matt quickly moved up the ranks from reporter to manager, eventually purchasing News Corp’s Australian magazines to create Murdoch Magazines. Through adding highly successful brands to the Murdoch Magazine stable and a deep understanding of the industry, Matt was able to sell the business at 10-times earning in 2004. Matt founded NewsagentPlus in 2014 with Kain, later that year it evolved into the tech payments and fulfilment platform that is blueshyft.
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Jamie Patterson

COO
Jamie has more than two decades’ leadership experience in operations roles in just-in-time environments. Beginning his career in printing, he rapidly worked his way up to team leader and manager, and eventually became the general manager of print and distribution for Fairfax Media, one of Australia’s largest media companies. After several successful executive positions and completing his MBA, Jamie joined the blueshyft team and became the COO shortly thereafter. He is responsible for the day-to-day running of the business and optimisation of customers.
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Roger James

Sales Director
Roger holds a Bachelor of Commerce Degree majoring in Marketing and Management, with 15 years experience in various Business Development and Senior Strategic Sales and People Management positions. He spent the last 8 years working in digital media, including 7 years at Google partnering with Australia's top Retailers launching digital marketing strategies and advertising solutions. He has previously been responsible for delivering on annual budgets of over $20M, and thrives in solution selling environments. He also plans to commence an MBA at the University of Sydney in Feb 2017.

Board of Advisors

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Robert Whitehead

Advisor
Robert has spent 30 years in media and marketing. He was Fairfax Media’s head of marketing & communication, served as the company’s director of group publishing - which included group sales, group circulation, magazine publishing and corporate services. As president of the national publishers’ association, he helped lead the industry through the deregulation of newsagencies. He oversaw the Fairfax Enterprise new ventures unit when it initiated the company’s expansion into consumer media and e-commerce apps. At Fairfax and later as a consultant, he has been directly involved in conceiving, building and/or launching more than 40 consumer apps. He also served as the editor of The Sydney Morning Herald for five years. His early work at blueshyft involved helping create the business model and strategy. He works as an advisor for several tech start-ups in mobility, media and retail disruption.
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Ross McCreath

Advisor
Ross acts as director and advisor for a number of early stage businesses in TV production, international distribution and digital services after three decades of leading technology innovation in media distribution. He was the founding executive of Australia's first pay TV operator, Australis Media (Galaxy), leading its IPO and commercial strategies as CFO/company secretary and strategy director. He was also CFO/company secretary of ASX listed Southern Star Group (TV production, distribution & video/DVD duplication). He was CFO/company secretary of major regional and capital city TV broadcaster, WIN Corporation. He was an independent director and subsequently CFO/general manager for publicly listed Quickflix Ltd (a DVD and SVOD service). He is co-founder and currently CFO of Oovvuu, a white-labelled AVOD provider for major media companies, as well as of The Boardroom.com, a CEO mentoring and advisory business.
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Justin Moses

Advisor
Justin has been based in New York since 2010 where he has held several key engineering roles. He is lead engineer at MongoDB, the world’s fastest growing database ecosystem. He is responsible for the user interface (UI) team that manages their cloud services. Previously he was principal, deputy practice head engineering, at Lab49, a financial services consultancy. Before leaving Australia, he co-founded pouncer.com.au with Kain Warwick.
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David Curry

Advisor
David joined blueshyft in October 2016. His passion and expertise is payments, working in an advisory or board capacity in this space with a number of start-ups and not-for-profits. He has more than 20-years experience in financial services in leadership roles at major organisations. He has served on the boards for Cardlink and Eftpos and has been a member of the global advisory council for UnionPay International. Most recently David spent three years with National Australia Bank, initially as a payments consultant prior to taking on a portfolio including merchant acquiring, corporate card issuing and Hicaps. Previously, David had spent seven years with Westpac in senior roles within the retail and institutional bank. He ran the merchant acquiring business for St George prior to its merger with Westpac, was general manager for the margin lending business within the equities division of the institutional bank and later ran strategy for the equities division.
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Kieran Warwick

Advisor
Kieran has spent the past decade in various forms of retailing, progressing from shop floor checkout to online checkout as he established three of his own e-commerce businesses. He became one of the youngest ever Harvey Norman’s franchisees, responsible for store leadership including online product management. He is co-founder of Mastering CGI Tutorials, an online training provider which creates original educational content in the competitive space of computer generated imagery. Its products are marketed globally and he continues to serve as an advisor and investor. With his brother, Kain, he co-founded Ai (Audio Invasion), an online music equipment retailer. He is also co-founder of TheBurgerCollective, a tech-enabled food loyalty disruptor in Sydney and Melbourne. His original work at blueshyft was focused on marketing the trading benefits of the platform to newsagents. It later evolved to see him lead all planning and implementation of the sales strategy for the acquisition of platform partners.

Traction

Milestones

Launched the BUX payments service.

November 04, 2016

Over $10,000,000 in deposits processed through the network.

October 01, 2016

POS App 2.0 released.

September 20, 2016

Over 100,000 parcels processed through the network.

August 01, 2016

Launched SodaKING canister exchange service.

July 10, 2016

Launched Bitcoin.com.au service.

June 10, 2016

1000 active agents in the network.

March 01, 2016

Launched TNT returns service, Apple click and collect service.

March 01, 2016

800 active agents in the network.

October 01, 2015

Launched TNT service for failed deliveries.

September 25, 2015

Launched Ladbrokes service.

August 12, 2015

Signed prelaunch partners, TNT and Ladbrokes.

July 01, 2015

Started agent acquisition process.

May 01, 2015

Partnership with VANA/Nparcel signed.

February 01, 2015

Press

Bitcoin in Newsagencies

Read Article →

June 02, 2016

Bitcoin available over the counter

Read Article →

June 02, 2016

Key Customers

Bitcoin.com.au

Bitcoin.com.au

We operate an over the counter bitcoin exchange programme with bitcoin.com.au.

TNT

TNT

We operate the TNT local exchange network.

SodaKING

SodaKING

We operate the SodaKING gas canister exchange programme for home soda makers.

Ladbrokes

Ladbrokes

We operate the Ladbrokes cash in deposit solution.

Key Partners

Nparcel

Nparcel

The Victorian Newsagent Association (VANA) is the key partner of Blueshyft, VANA operates as a not for profit association for the benefit of its members which are predominately News and Lottery agents nationally.
VANA operate the NParcel network which was initially used to facilitate logistics services through the network specifically for Toll Holdings Limited. Blueshyft has entered into a three year exclusive agreement with VANA which provides Blueshyft access to the NParcel network of 1500 Newsagents and allows Blueshyft to autonomously enter into commercial agreements with new partners that wish to integrate with our platform.

Newspower

Newspower

Newspower is the largest Newsagent marketing group in Australia, Newspower stores represent approximately 25% of the total Newsagents in Australia.
Newspower is a progressive group that encourage innovation and new products in the Newsagency channel and have added Blueshyft as a prefered supplier for their stores.

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