Fast-growing Australian online paint brand Tint has recorded $5 million in annual sales this year and now you could invest in the business through its new crowdfunding campaign.
Their fresh and modern take on paint has already garnered the backing of notable investors Ben Gray, co-founder of BGH Capital; Leigh Jasper and Rob Phillpot, co-founders of Aconex; and Adam Lewis, ex-McKinsey managing director and now the company’s chairman. Participating in this round is also Lina Calabria, co-founder of Bellroy.
Co-founders DJ Dikic and Rocky Liang originally joined the global paint scene with technology company Palette and their range of devices for instantly capturing and naming paint colours, similar to the way Shazam captures the name of a song.
The pair have now expanded their business with Tint — offering a range of 72 popular paint hues based on the latest style trends from around the world, delivered straight to the door.
Tint’s curated colour range is also available as giant sample stickers so renovators can try colours at home without messy sample pots. True to their technology roots, the Tint App provides an augmented reality (AR) experience so buyers can measure how much paint they need with a few taps.
The duo have a strong focus on sustainability, formulating their paints to ensure they’re free from the air-polluting VOCs and running all their operations on 100% renewable energy.
“The outdated $2.5bn Australian paint and home decoration industry was ripe for disruption, with not much effort historically put into creating a better, less overwhelming shopping experience for renovators. Our online-only approach allows us to help everyday Aussies through every stage of their decoration journey,” says DJ.
“What we’ve created is a fresh take on shopping for paint with premium and healthy paint that is water-based, odour-free, devoid of animal cruelty and 100% Australian-owned,” he adds.
“We also offer a complete range of painting tools which we deliver alongside our paints so our customers never have to step foot inside a hardware store to start creating a beautiful space at home.”
Since launching 18 months ago, Tint’s annualised sales have reached $5m with over 30,000 customers choosing to buy online instead of going into stores, and 15% of sales coming from trade painters.
“Our crowdfunding campaign is a fantastic opportunity to invite Tint’s highly engaged and rapidly growing community to partner with us as we renovate how Australians decorate. Our plan is to grow our fulfilment network and offer same day delivery to Sydney, expand our product range beyond just paint, and continue our strong momentum among trade painters.”
While investing in high growth unlisted businesses was once only accessible to high net worth investors and venture capitalists, equity crowdfunding makes investing an option for any Australian who wants to buy shares in companies they feel passionate about.
Tint is raising $500,000.00 (capped at $2,000,000.00) through its crowdfunding offer, which is managed by Equitise. Equitise co-founder and managing director Jonny Wilkinson said the crowdfunding industry in Australia has more than doubled in the last two years, with total raised increasing from $28.3m to $46m in 2021.
“Funding activity in this space has started to dominate and we are seeing rapid growth in direct-to-consumer businesses. eCommerce is on a growth trajectory as the pandemic changed how we shop. D2C contributes about 10% of retail in Australia, compared to the 20-to-30% of the overall retail level seen overseas, set to reach $4.5 trillion by the end of this year globally,” he said.
Tint is Australia’s first one-stop shop to customise paint hues and order online with same day delivery of premium, sustainable paints and painting supplies right to your door. Palette is a leading digital colour and paint fulfilment technology company supplying the global paint industry since 2013. Today, over 30,000 professional painters use Palette’s devices to capture over 100,000 colours across 50 countries, every month. In January 2018, Equitise was one of the first platforms to receive an Australian retail equity crowdfunding license. With first-hand experience from the New Zealand market, they launched the first ever retail offer that same day which went on to raise almost $2.4 million. It became the only trans-Tasman platform connecting high-growth startups and consumer brands with a broad range of retail and wholesale investors.