Scalare Expands National Ecosystem With Brisbane Workspace, New Investment In Auric And Equityroom Launch
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Highlights
The Company reported statutory operating cashflow of $1.92 million for the September quarter. As in the June quarter, the result should be considered alongside the impact of AASB16 lease accounting and the timing of office fit-out expenditure at Tank Stream Labs. Office rent of $2.93 million is reported in financing activities rather than operating activities. During the quarter, the Group also received $1.68 million of lease incentives from landlords to fund office fit-outs, which are reported in financing activities. Payments for property, plant and equipment of $3.02 million, reported in investing activities, include $1.18 million of fit-out payments made in July 2026 that were matched against the June quarter lease incentives in the Company's previous quarterly update. When these timing differences are matched, the underlying cash movement for the quarter was an outflow of approximately $1.16 million. Financing activities also included $2.07 million of proceeds from the Convertible Note Facility, less $0.54 million of transaction costs and associated investor relations activities, and $0.17 million of loan repayments. On a matching basis, Scalare would consider the actual net cashflow from business activities as follows:
Funding and capital management On 2 July 2026, Scalare announced that it had received binding commitments for $5,000,000 (before costs) through a Convertible Note Facility with The Blackstone Mercantile Group Ltd. SAC, subject to shareholder approval. The Facility has a face value of up to $25 million, of which $5 million is committed. Further tranches of up to $20 million are at the investor's discretion and require the Company's consent. At 30 September 2026, $2.07 million had been received under the Facility. Transaction costs of $0.54 million were paid during the quarter. Shareholders strongly endorsed the Facility at the General Meeting held on 4 August 2026, approving all resolutions on a poll with more than 99% of votes cast in favour, including the issue of the $1.00 and $2.00 Convertible Notes and a 1-for-60 consolidation of capital. The consolidation gives the Company a more streamlined capital structure for its next phase of growth. Following its implementation, Scalare made a Bonus Issue of new options to existing shareholders (record date 24 August 2026), giving existing shareholders the opportunity to share further in the Company's growth. The bonus options can be exercised between 5 February 2027 and 31 March 2027. On 7 October 2026, the Company announced revised dates for the remaining instalments under the Facility. The second instalment of $1.5 million is now due by no later than 30 October 2026 and the third instalment of at least $1.43 million by no later than 30 November 2026. As the Company's existing Listing Rule 7.1 approval expires on 4 November 2026, shareholder approval for the final instalment will be sought at the Annual General Meeting on 26 November 2026. The Company expects the revised timing to have no material impact on its operations. Operational highlights Tank Stream Labs expands into Brisbane During the quarter, Scalare announced Tank Stream Labs' expansion into Queensland through its new Brisbane workspace at 215 Adelaide Street. Brisbane becomes the eighth location in Tank Stream Labs' network, extending its presence across Sydney, Melbourne, Adelaide and Brisbane, and giving it a presence in four states. The expansion creates a new point of access to the Scalare ecosystem for Queensland founders and growing technology businesses. In addition to flexible workspace, the location provides a platform for community events, founder engagement and connections to the Group's advisory services, corporate partners and investment capabilities. As announced on 28 September 2026, the Brisbane site is expected to be EBITDA and cash flow positive in FY27. Planet Startup is already based in Brisbane, giving the new location an established founder community to build on. Since quarter end, launch activities in October have included a Fishburners Pitch Night, illustrating the opportunity to bring the Group's founder brands together through its national workspace network. Investment in Auric Scalare invested in Auric, a Sydney-based technology company founded by Adam Good and Alex Cutri. Auric is developing an AI-powered Scent IntelligenceTM platform combining connected hardware, software and scent technology to create personalised environments. Auric has completed development and manufacture of its first commercial device, the Aromasphere, and is deploying units in homes and workplaces across Australia. Alongside the investment, Auric established its Scent Lab at Tank Stream Labs' Merchant House location at 333 Kent Street, Sydney, providing a base for product development and engagement with customers, partners and investors. The investment reflects Scalare's strategy of backing selected technology companies where the Group can provide support beyond capital. Auric's presence within Tank Stream Labs also demonstrates the opportunity to connect investment portfolio companies with the infrastructure and services available across the ecosystem. EquityRoom launched EquityRoom, a startup fundraising, data room and equity management platform developed and funded by Scalare, was launched in September 2026. At launch, EquityRoom had 11 paying customers and a further 35 customers on trial. The platform earns subscription revenue, which Scalare expects to become a scalable, recurring revenue stream within its products and services business. EquityRoom is operated by EquityRoom Pty Ltd, which is 51% owned by Scalare and 49% owned by its founder, Scalare Partner Tim Griffiths. It complements Inhouse Ventures, Fishburners and the Australian Technologies Competition by giving founders across the ecosystem a single platform to prepare for, run and manage their capital raises. Connecting the Scalare ecosystem Following the acquisitions of Tank Stream Labs, Planet Startup and Fishburners in FY26, Scalare's focus remains on strengthening connections between its operating businesses. The Group's combined capabilities span workspace, founder communities, financial and commercial advisory, education, corporate partnerships and investment support. A founder may first engage with Scalare through an event, a program or a workspace. As that business develops, the Group can provide additional services and connections to support its next stage of growth. This approach is intended to increase the value delivered to founders while creating opportunities for recurring revenue, cross-selling and investment across the Group. Outlook Scalare's priorities for the remainder of FY27 include:
The Company believes its expanded national presence and connected service capabilities provide a strong foundation for the next stage of growth. This announcement was authorised for release by the Board of Scalare Partners Holdings Limited. END For more information, please contact:
About Scalare Partners For more information visit: Scalare Partners Holdings Limited (ASX: SCP) is building Australia's most comprehensive founder ecosystem, supporting technology entrepreneurs from idea through to global scale. Through its portfolio of leading founder brands, including Fishburners, Tank Stream Labs, The Founders Union, Planet Startup, Tech Ready Women, Inhouse Ventures, EquityRoom and the Australian Technologies Competition, Scalare provides founders with the community, workspace, advisory services, education, corporate connections, investment pathways and growth support needed to build successful technology businesses. Collectively, the Group has a combined community of around 40,000 active founders and alumni, has supported over 10,530 startups throughout their growth journey, and its alumni have raised more than $5.4 billion in funding. Through more than 7,000 startup and innovation events, strategic corporate partnerships and investment initiatives, Scalare continues to strengthen Australia's innovation ecosystem. Operating across Australia with an expanding international network, Scalare generates recurring revenue through coworking, advisory, founder programs, corporate partnerships and innovation services, while also investing in selected high-growth technology companies. By bringing together capital, capability and community, Scalare creates long-term value for founders, corporate partners and shareholders. Forward Looking Statements To view the source version of this press release, please visit |
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