Sharechat Logo

Pushpay inks R&D funding agreement with Callaghan Innovation

Wednesday 15th February 2017

Text too small?

Mobile app developer Pushpay Holdings has entered a funding agreement for a research and development grant from Callaghan Innovation.

The deal allows for the funding by Callaghan Innovation of up to $5 million (GST exclusive) per annum of eligible R&D spend by Pushpay over a 36-month period, provided the terms of Callaghan’s R&D Growth Grant have been met, Pushpay said in a statement to the New Zealand stock exchange.

"The funding will provide additional resources to deliver scale and growth in the Pushpay platform through the development of new features, new markets, and scalable engineering processes and practices," Pushpay chief executive Chris Heaslip said.

Pushpay provides mobile commerce tools that facilitate fast, secure and easy non-point of sale payments. It services three target markets: the faith sector, non-profits and corporates.

In January the company said it's moving up the value chain and is in talks with large US vendors about its expanded product offering, after confirming it's on track to reach US$72 million in annualised committed monthly revenue (ACMR) by the end of the year.

The shares were last up 2.6 percent at $2.

(BusinessDesk receives assistance from Callaghan Innovation to cover the commercialisation of innovation)

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares up as A2, Genesis rally, while Pushpay drops
NZ dollar heads for weekly 0.7% gain, all eyes on possible US govt shutdown
Trustpower affirms earnings guidance as wholesale prices stay high; notes low hydro levels
OceanaGold's Macraes gold mine misses production target
Prime Minister Jacinda Ardern pregnant, Winston Peters to step in as acting PM
January 19th Morning Report
NZ dollar gains as threat of US govt shutdown weighs on greenback
While you were sleeping: Wall St pauses after Dow climbs to record
MARKET CLOSE: NZ shares mixed, Fisher & Paykel, Air NZ drop while Kiwi Property rebounds
NZ dollar steadies after sharp fall, US bear run may not be over

IRG See IRG research reports