GeoOp sets NZX listing date

GeoOp sets NZX listing date

Summary: New Zealand mobile workforce app developer to list after raising $10 million privately.

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Auckland-based GeoOp, a mobile workforce management company targeting trades and services businesses, intends to list on the NZ Alternative Market (NZAX) on Thursday the 31st of October.

GeoOp shares will be listed at NZ$1, subject to final market approvals, the company said today.

The announcement comes after a private share offering which raised NZ$10 million and, the company says, was oversubscribed three times.

As a result, GeoOp now has 280 shareholders.

It joins a growing list of tech companies opting to list in New Zealand. In the last few months, forensic software company Wynyard Group and site search technology SLI Systems have both listed. Wellington-based cloud integrator Fronde, may follow suit.

The market has been relatively receptive to such technology listings, with SaaS accounting software maker Xero leading the charge with a strong run that has seen its market capitalisation hit nearly NZ$3.6 billion with the company yet to make a profit.

GeoOP has developed native apps and a software as a service (SaaS) back-end to help trades and services businesses — from sole traders up to SMEs with 200 field staff — manage job scheduling, estimating and customer service.

It claims to already have a global product with 4,000 paying users in 13 countries and 85% of those located outside of New Zealand. GeoOp is available through the Apple App Store, Google Play and from the GeoOp website.

"GeoOp believes the listing on the NZAX will now enable it to charge further ahead with its global expansion strategies, particularly in Australia and the US," said in a statement.

It aims to replace manual, paper-based workflow, allowing office and field staff to create, assign, cost, quote and invoice jobs in real time. It also integrates with business products such as Xero, Freshbooks, Unleashed, iAuditor, Navman and Snitch.

As well as in Auckland, it has offices in Sydney and Melbourne and staff in the UK.

Key vertical markets include: building, plumbing, electrical, painting, plastering, building, drainage, technical, computer technicians, engineers, maintenance and repair, telecommunications, air conditioning, alarm installation, health, caregivers, community workers, mobile therapists, mobile vets, outsourced medical, childcare, general services, towing, cleaning, moving, delivery, locksmiths, arborists, and photography.

Topics: Mobility, Android, Apple, Apps, Google Apps

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