The transaction is expected to close on Monday.
Navigate Global Payments, the foreign exchange and payments fintech which fell into receivership five months ago, has found a saviour – the Tozer & Co family office, which has now completed a $30 million recapitalisation.
Navigate Global was established in 2017 and grew to have some 50 staff in Sydney and Melbourne. It provides hedging and foreign exchange products and has what it describes as a world first end-to-end hedging and payment platform known as NaviHedge. That product allows users to identify, compare and executive FX derivatives contracts and track live payments.
David Tozer of Tozer & Co: Whilst he has been investing since a young age, he formally set up his family office in 2017. The Tozer family office, notoriously private, has a sprawling portfolio. It houses investments in Cettire, the high-end online retailer which has seen its share price run 60 per cent in a year, industrial water treatment group Hydroshield, agricultural financier Agrifunder and digital banking firm Alex Bank, among others. There’s also a portfolio of pubs and restaurants, a distillery in the works and popular craft brewer, Grifter Brewing Co, which makes $20 million at the earnings line.
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