This new capital will be employed to fund the continued rapid growth and expansion of the company.
Founded in 2016, Linktree is an Australian tech platform and link-in-bio tool, which allows users to aggregate their online ecosystems and enables content engagement and ecommerce.
The Herbert Smith Freehills team was led by partner and Head of Venture Capital Peter Dunne, consultant Elizabeth Henderson, senior associate Rob Prosser and solicitor Sian Lacy working across the firm’s Sydney and Melbourne offices.
Elizabeth Henderson said, “Linktree is a great Australian success story on a global stage. Listed in CNBC’s Upstart 100 in 2019 as one of 100 startups to watch, the company has seen phenomenal growth, hitting 8 million users in September this year. There was fierce competition from investors globally to be part of this capital raising, a testament to the company’s success and potential. We have enjoyed working with Linktree’s founders to help them achieve this important milestone in its journey.”
Linktree’s co-founder and CEO, Alex Zaccaria, said, “From the beginning we’ve been focused on creating a startup cut from a different cloth. We’ve been bootstrapped and profitable from day one, and have achieved a lot in four years. I am incredibly proud to announce this raise alongside our incredible investor partners, and to leverage their expertise to create something truly unique in the tech startup sector. The team at Herbert Smith Freehills have been instrumental in this raise and we’re grateful for their hard work in getting this to where we wanted”.
This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings and founder liquidity transactions. Other recent examples include:
- Kasada on its A$15 million Series B capital raise;
- SafetyCulture on its A$60.5 million Series C capital raise and secondary sale;
- Deputy Group on its A$111 million Series B capital raise;
- Culture Amp on its A$120 million Series E capital raise; and
- capital raises for Verteva (Nano Home Loans), Sonder, Gilmour Space, Nura, Roborigger, Reejig, Elenium Automation, Campaign Monitor, Tyro Payments, Different, Shore Trade, Buckitdream and others.