Lakeba achieves $20M startup sales record for Paid By Coins

“Lakeba built, deployed and exited the Paid By Coins business in less than seven months, achieving what few startups have before them. This accelerated acquisition timeline demonstrates the rigour and depth of Australian innovation and sets a new benchmark for the rapid commercialisation and sale of market-relevant, high demand emerging technology solutions,” said Giuseppe Porcelli, CEO and Founder of Lakeba.

Paid by Coins is a secure payment solution for consumers, enabling payments to be automatically remitted to any billers on the BPAY network or to any Australian bank account.

“Looking at the timeline of startups and how companies build, deploy and exit their business, this can typically take several years before the business model proves itself. We believe Paid By Coins entered the market at the right time and has grown into a viable, high performing business,” said Giuseppe.

The acquisition is a natural evolution of the partnership between Mobecom and Lakeba. Earlier this year Mobecom announced Lakeba as their developer partner to build the solution for their customer loyalty platform. The business relationship has evolved rapidly since then.

Neil Joseph, CEO of Mobecom notes the acquisition is in line with their growth strategy and will help to rapidly advance the business.

“Mobecom’s acquisition of the Paid By Coins payment gateway will help to consolidate our position and progress the adoption and implementation of emerging technology to help future proof and drive greater business resilience for Mobecom,” said Neil.

Download PDF here

About Lakeba

Lakeba builds businesses that are optimised for high returns from low investment, at low risk when compared with the start-up sector. It utilises proprietary artificial intelligence (AI), decades of business and technology experience, and scalable shared services, to support each phase of business building. So far it has ‘conceived, created and commercialised’ 15 ventures, of which three have already been spun-out.

The unique Lakeba AI ‘neural network’ ‘conceives’ opportunities by continually interrogating the internet to establish patterns which suggest a business ‘need’ that could be solved digitally. Its entrepreneurs then double check this analysis and determine the viability of the business idea and its commercial potential.

To ‘create’ a venture, Lakeba works with partners, industry, and the wider innovations ecosystem to create digital technologies that eliminate the frictions identified by the neural network. A team of technologists, designers, and entrepreneurs build out the value proposition and establish the business. Lakeba invests its time, capabilities, capital and resources to craft ideas into reality.

‘Commercialise’ is the final stage of the Lakeba process. Once the digital proof of concept delivers on its promise, it is enhanced with radical intelligence. Working with partners, investors and the customers, Lakeba’s team refines and optimises the operations and distribution to rapidly commercialise the venture. This ensures the business continuously delivers value to customers as it scales and diversifies across industries and the globe.

Lakeba Group was founded by Giuseppe Porcelli, Entrepreneur and Visionary of Future Technology.