First Table investors revealed

Queenstown start-up First Table has raised $3.5million through its capital raise, which includes ‘‘significant investment’’ from leading wholesale investor Invest South and Mainland Angel Investors.

Founded by Mat Weir in 2014, First Table started its first cap raise through Snowball Effect in March and received a term sheet from Invest South the following month.

Its executive officer, Prue Halstead, says investing in a Queenstown-based hospo tech business with global aspirations aligns ‘‘perfectly’’ with Invest South’s mission to invest in companies that can have an impact on the entire region’s economic prosperity.

‘‘We conducted extensive due diligence, recognising the community funds involved, and are confident that this strategic investment will have a positive impact on the region and the hospitality industry as a whole,’’ she says.

Mainland Angel Investors network manager Peter Ramsay says they’re also excited to be involved.

‘‘[First Table] have demonstrated incredible growth potential and the ability to attract key talent to support the founding team on their mission to scale offshore.

‘‘Our investment … proudly demonstrates the growing hunger in the lower South Island to support high-growth investment opportunities.’’

Weir’s thrilled to welcome the two parties, as well as the 325 individual Snowball Effect investors.

He’s excited to put the investment to work and become the leading hospitality technology platform in New Zealand and the world, and says the partnerships affirm the ‘‘strength of opportunity and confidence’’ in the team.

‘‘We’re in active conversations with a small number of additional investors and expect to close the round in two weeks.’’

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