Mosaic is excited to formally announce they have signed their first international contract for their technology platform and Volo Lifestyle products.
“This builds on the strong start and provides further validation of Volo and the technology platform,” say Murray Lilley and Trevor Boone, founders and major shareholders in the company; “it also means increased company value by providing immediate and long term cash flow”.
Contract details are commercially sensitive, however the immediate payments represent more than the $400k minimum Mosaic was raising on the Equitise platform so they have lowered their minimum and maximum investment amounts. Chief Marketing Officer and co-founder Andy Baird says "We're excited about what this means for existing shareholders and any new investors who join before the crowdfunding finishes."
Baird also says this shows validation of two of the key differentiators between Mosaic and their competition; the ability to create innovative products and to take advantage of new technology. "We knew we had a great product and platform for the NZ market, this confirms it's also attractive in Australia and beyond."
Mosaic is initially targeting consumers in the 18-35 age group, with a combination product called 'Volo Lifestyle Cover', including elements of Life, Trauma and Total Permanent Disability; it is a simple solution for this age group to protect their lifestyle. This advanced cover, combined with a simple and easy interface that can be used from PC or mobile allows this age group to get insured quickly and easily.
Mosaic had a pre-investment valuation which excluded any licensing arrangements because they were at the early discussion stage when the valuation was prepared. Mosaic is now raising between $100k and $600k through new shares.
Equitise, the equity crowdfunding platform being used,was founded to make it easier for Kiwis to invest in serious New Zealand and Australian business opportunities. The company was authorised to offer equity investments to the New Zealand public through their unique equitise.co.nz cloud platform, by the FMA, at the end of December 2014.
Full details on the Mosaic equity crowdfunding offer isavailable on the Equitise website: