Australia's online marketplace for furnishing & fitouts.
I need it, I'll Sawce it!

Live Sawce Pty Ltd

Sawce Pty Ltd | Equity Crowdfunding

Equity Crowdfunding Type of Offer
$27,346,761Pre-money Valuation
$500 Minimum Investment
Up to $1 million Size of Offer

Min. reached - now targeting $1 million

146%

$291,094

Raised

1-3.5%

Equity

53

Investors

Closes in

1d
1h
1m
1s

​Please consider the offer document and general risk warning before investing.

Investors are entitled to a 5 day cooling-off period.

Investments over $10,000 are restricted to Sophisticated investors - Apply here

 

Click here to learn more about Equity Crowdfunding

Media Coverage

There are many elements to Sawce that make it unique. Firstly, it’s sophisticated algorithms were built by tech wizz’, who also have extensive experience in founding companies with exits (including ASX listings).

 

Secondly, Sawce’s advanced propriety technology benefits retailers and consumers equally. Their holistic solution solves pain points on both ends of the spectrum in the furnishing and fit-out industry. Paired with their first mover advantage, Sawce is continuing to receive media attention – check out some of their press below!

Interview

This week, we sat down with Joseph Bruzzanati, CEO & Founder of Sawce, to ask questions that OnMarket investors submitted. Watch Joseph’s answers to the crowd for a comprehensive overview of Sawce’s business model and market opportunity!

 

Testimonials

“Sawce.com.au makes it super easy for us to market our hospitality products to a very large market of buyers.  The site focuses on our commercial business sector, furnishing and fit-outs, and can handle simple online transactions as well as the more complex things like customisation and commercial fit-outs, which are very important for our business.” 

Michelle Smith. Director, Convenient Interiors

 

“Our business focuses on product sales right through to full office fit-outs, and we can service customers nationally.  We can also custom-make products like tables and reception counters.  Sawce.com.au is an ideal channel for us to promote our broad range of products and services and generate more sales, both online and project-based.  We have been working very successfully with the Sawce team and will continue to do so through the new Sawce.com.au marketplace for furnishing and fit-outs.”

Lily Tioaquen. Owner, Office Better 

 

“As a smaller, full-service retailer, we need a sales channel that can help us increase our sales without upfront advertising costs, and that understands our target market.  Since Sawce.com.au is dedicated solely to the furnishing and fit-out industry, does not charge any advertising fees, and is easy to implement and operate, it’s a perfect place for us to promote and sell our products and services.  We’ve already had a lot of success working with the Sawce team and look forward to expanding on this via the new Sawce.com.au site for furnishing and fit-outs.”

Lior Vardi. Owner, Chocolate Wood

 

$50B market primed for disruption

Ever tried fitting out and furnishing a space – a building, an office, your home – or even just finding the perfect sofa to fit a room?

 

Furnishing a space is hard work and very time consuming …

 

The furnishing & fitout industry is worth over $50B (1) in sales annually in Australia alone, with 2 million individual and commercial buyers across home, commercial and office segments.  But the industry is highly fragmented, with over 40,000 retailers, most of which are smaller businesses with low marketing budgets, low online capability and low ability to reach mass markets of buyers. 

 

Similarly, there is no easy way for buyers to access all the products available.

 

Sawce.com.au seeks to transform the industry by being the dedicated ‘go-to’ online marketplace for furnishing & fitouts, bringing together all the retailers, products & buyers in one place in real time.

Introducing Sawce.com.au – NEED IT? SAWCE IT!

The one place to Sawce all your furniture and fitout needs

Unique online marketplace empowering retailers & enabling all transaction types, simple and complex

 

Unique proprietary marketplace technology platform, built on automation and sophisticated algorithms and optimised for the user experience, enabling all forms of transactions between buyers and retailers, from the simplest e-commerce items to complex, high-value purchases. A retailer sub-system also allows each retailer to manage their own showroom to maximise their sales. The Sawce technology platform and IP has been designed and built over the past two years and is fully owned by the company.

Proven and de-risked business model


Proven business model via a pilot site achieving $2.9M in sales for retailers in a 2-year focused pilot, gross margins over 90% on Sawce revenue, and 30,000 users per month with no advertising spend.

 

The company was also able to test a range of different revenue models including charging retailers annual or monthly subscription fees before arriving at a commission-based fee structure, where retailers only pay a commission once they generate a sale via Sawce.  Retailers overwhelmingly preferred this approach as it reduced their need to outlay cash upfront as is typical with normal advertising channels, and they could be assured they only paid fees when they generated a new sale. 

 

Commission rates were between 8-12% of the order value.

Funding for rapid scale-up and sales growth


Sawce is replacing the pilot site, meaning that at launch Sawce.com.au will have 30,000 users per month and over 100,000 products from 200+ retailers across Australia.

 

The funds raised from this Offer will be applied to optimised tactical marketing to rapidly scale-up to 1M products within 12 months and grow sales equally fast.

 

The Board and Management, who have successfully grown and listed companies before, hope to IPO within 2 years.

Investor Rewards


By investing in Sawce, not only will you receive fully-paid shares in the company, you will become a valued shareholder and be assisting it on its path to scale and become a household brand.
 
To further thank you and hopefully have you become a champion for the brand, Sawce will be providing shareholder rewards as explained below, depending on your level of investment.  

Reward:
 

  • Shareholders will receive a voucher to the value shown
     
  • Any unused amounts can be carried over and applied to future orders
     
  • The voucher cannot be redeemed in conjunction with any other Sawce rebate program
     
  • The voucher is valid for 12 months

The Board

Joseph Bruzzaniti

CEO, Founding Investor, Executive Director

20+ years at forefront of internet industry, shareholder and European Director of IMR/Red Sheriff (acquired by WPP), founder of Learning Seat (acquired by News Corp) and Bach Eng (Aero), RMIT and MBA (hon), Melbourne Business School.

 

Silvio Salom

Founding Investor, Non-Executive Director

Technology entrepreneur, generating over $A1 billion in export sales in the last decade. Silvio founded more than 12 successful companies including Adacel and Lochard/EMS and served on numerous boards: Adacel Technologies, Lochard Ltd, IT&T Skills Hub, Melbourne University Private, Airport Industries Australia, CSIRO (ITC advisory).

Stephen Gorenstein

Non-Executive Director

15+ years in capital markets, equity analyst at Goldman Sachs, equity analyst at JB Were, formerly the Regional Head of Asia Pacific Metals and Mining at Bank of America Merrill Lynch and Head of Jindalee Partners Melbourne

Vito D'Introno

Non-Executive Director

20+ years’ experience in Funds Management, COO Yarra Capital, formerly Acting Chief Executive of DPM and Head of Retail at Challenger Financial Group and Bachelor of Commerce from Deakin University.

 

Terms of the Offer

Issued Capital

For more detailed information, please read the Capital Structure section of the offer document.

Use of Funds 

For more information, please read the Use of Funds section of the offer document.

Company Risks

Sawce Pty Ltd is an early-stage company and is the only online marketplace of products and retailers for furnishing & fitouts.  As with any early-stage business, an investment in the Company should be seen as high-risk and speculative. A description of the main risks that may impact their business are listed in the offer document. Investors should read this section carefully before deciding to apply for shares under the Offer. There are also other, more general, risks associated with the Company (for example, the risks relatingto the effectiveness of marketing, competition, platform risks or the inability to sell their shares).

See the Risk section in the Offer Document for further information.

The Offer is subject to a Maximum Subscription amount of $1 million. If the Maximum Subscription is reached, the Offer will close early. Applications will be treated on a time priority basis and may be subject to scale back, so please fund your application as soon as possible

Risks

IMPORTANT: Please read the below information before investing in this Equity Crowdfunding offer.

RISK WARNING:  Crowd-sourced funding is risky. Issuers using this facility include new or rapidly growing ventures. Investment in these types of ventures is speculative and carries high risks. You may lose your entire investment, and you should be in a position to bear this risk without undue hardship. Even if the company is successful, the value of your investment and any return on the investment could be reduced if the company issues more shares. Your investment is unlikely to be liquid. This means you are unlikely to be able to sell your shares quickly or at all if you need the money or decide that this investment is not right for you.

Even though you have remedies for misleading statements in the replacement offer document or misconduct by the company, you may have difficulty recovering your money. There are rules for handling your money. However, if your money is handled inappropriately or the person operating this platform becomes insolvent, you may have difficulty recovering your money. Ask questions, read all information given carefully, and seek independent financial advice before committing yourself to any investment.

5 DAY COOLING OFF PERIOD: There is a 5 business day cooling off period for retail investors. During this period, you may withdraw your application and receive a full refund into your nominated refund account. Please note: After the 5 day cooling off period has expired, you will be unable to withdraw your application. More information here.

ONMARKET FEES: Upon successful completion of the Offer, a maximum fee of 6.5% of the funds raised will be paid to OnMarket by the Company.

ONMARKET INTERESTS: OnMarket and its associates may be participating in this offer.

ONMARKET INTERESTS AND AMOUNTS SUBJECT TO COOLING OFF: The funding bar displayed under each crowd funding offer may include applications where payments are yet to be made and amounts that are subject to the cooling off period.

Section 734(6) disclosure: The issuer of the securities is Sawce Pty Ltd ACN 134 158 151. The securities to be issued are fully-paid ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above)

Company Releases

Offer Document 04 Nov 2021

Question time

We'd love to answer your questions, we'll have one of the OnMarket team or the company representative of the offer get back to you asap. So ask away ...

Valuation

Your current valuation is ridiculously high at $33.3m valuation but only earned $290k over 2 years on commission during the trial. Your valueing the company at 100 x earnings. Why is it so high?

Alcino d (OnMarket member) on 12/11/2021

Hi Alcino,

Thanks for your question. Sawce has expended around $10M to get to this stage to be a pure-play technology marketplace with over 200 retailers and 70,000 products. Prior to this ECF raise, in addition to the founders, we have raised funds via 17 independent high-net worth individuals at the current share price of $0.85. Through the pilot site, the goal was to perfect the business model, inform the design for the Sawce technology platform so that we can scale the business quickly and at high gross margins, and also prove that we could scale at near break-even with low overheads. This is highly atypical since most technology companies try to scale quickly but have very large cash burns. Through the pilot site we proved we can scale the business at very high gross margin (over 90%) and also do so at near break-even. We believe this puts us in a very strong position. Its also important to note that some companies are achieving much higher valuations. For example Little Birdie recently raised $30M AUD from Commonwealth Bank, bringing its valuation to $130 million AUD, and it is still in pre-launch with no revenue. Please see this article: https://techcrunch.com/2021/05/24/e-commerce-startup-little-birdie-lands-30m-aud-pre-launch-funding-from-australias-largest-bank/.

Were also pleased to confirm that we have achieved our minimum raise target for this round, and the majority of funds will be used to roll out our marketing plan for Sawce.com.au. We very much look forward to driving the Sawce business forward and expect that any future raises will be at a higher valuation.

Thanks again for your question and for taking time to review our ECF Offer.

Joseph B (Sawce Pty Ltd representative) replied to Alcino d on 16/11/2021

Thanks for the reply. Will you be offering secondary market opportunity to sell our shares. I understand there are a few secondary market platform coming soon that allow shareholders of private companies to sell their shares. WIll you offer this opportunity in the near future? What is our exit strategy in the future?

Alcino d (OnMarket member) replied to Joseph B on 16/11/2021

Hi Alcino.

Thanks for your question. The board and management team are focused on growing shareholder value by building a high-quality company that continues to grow and cements its position as the go-to place for buyers and sellers in the $50B furnishing and fit-out market. The main liquidity event for our shareholders will be our intended IPO, which we are focused on achieving within 2 years. It is possible that there may be an opportunity for shareholders to exit before the IPO, as commonly occurs via a pre-IPO step, but this can only be firmed up closer to that stage. Should there be other sensible pathways that can be provided to shareholders for earlier liquidity, such as secondary markets, we will also investigate these and endeavour to make them available.

I hope this answers your question but please feel free to let me know if you have any further questions and I will be pleased to answer them.

Joseph B (Sawce Pty Ltd representative) replied to Alcino d on 19/11/2021
Valuation

Hi there, Please advise how you pre-money Valuation was derived? Thank you.

Rachiyata J (OnMarket member) on 15/11/2021

Hi Rachiyata,

Thanks for your question. The valuation was established through substantial modelling taking into account financial projections, intellectual property and other assets, management experience and expertise and overall level of de-risking. Sawce has expended around $10M to get to this stage to be a pure-play technology marketplace. We have over 200 retailers and 70,000 products and 30,000 users per month ready to go. Prior to this ECF raise, in addition to the founders, we have raised funds via 17 independent high-net worth individuals at the current share price of $0.85. Through the pilot site we not only proved we can scale the business quickly at high gross margins (over 90%) but also, and very importantly, that we could do so at near break-even with low overheads. As explained in another question, this is highly atypical since most technology companies try to scale quickly but have very large cash burns, and this increases their risk profile. Through the pilot site we proved we can scale the business at very high gross margin (over 90%) and do so at near break-even. We believe this puts us in a very strong position. Its also important to note that some companies are achieving much higher valuations. For example Little Birdie recently raised $30M AUD from Commonwealth Bank, bringing its valuation to $130 million AUD, and it is still in pre-launch with no revenue. Please see this article: https://techcrunch.com/2021/05/24/e-commerce-startup-little-birdie-lands-30m-aud-pre-launch-funding-from-australias-largest-bank/.

Were also pleased to confirm that we have achieved our minimum raise target for this round, and the majority of funds will be used to roll out our marketing plan for Sawce.com.au. We very much look forward to driving the Sawce business forward and expect that any future raises will be at a higher valuation.

Thanks again for your question and for taking time to review our ECF Offer.

Joseph B (Sawce Pty Ltd representative) replied to Rachiyata J on 16/11/2021

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Discover investment opportunities here.

 

Equity Crowdfunding 1 days left

Sawce Pty Ltd

Sawce Pty Ltd
Australia's online marketplace for furnishing & fitouts
I need it, I'll SAWCE it!

 

Sawce.com.au is the FIRST and ONLY online marketplace dedicated to helping people furnish and fitout any space – home, commercial and office. Starting with over a hundred thousand products from hundreds of retailers, & targeting 1 million products within 12 months, they are the Domain.com and RealEstate.com of the $50B Australian furnishing and fitout industry.

 

Using their successful pilot site with 30,000 users a month as the base, Sawce.com.au launches in October, with rapid expansion anticipated as a pure-play technology-driven marketplace.

 

Before investing please consider the offer document and the general risk warning.

Min. reached - now targeting $1 million

146%

$291,094

Raised

1-3.5%

Equity

53

Investors
IPO Upcoming

ChemX Materials Ltd ASX: CMX

ChemX Materials Ltd
Focussed on producing materials required for global energy transition and de-carbonisation markets

 

Commitments in excess of $7m min offer size. OnMarket has a limited allocation

 

ChemX Materials Limited (ASX: CMX) is a materials technology company developing new and innovative solutions to produce materials required for the global energy transition and de-carbonisation markets. The Company’s initial focus is in-house developed technology to process and supply High Purity Alumina (“HPA”). HPA is a critical material for the Lithium-Ion Battery and LED & Semiconductor markets. ChemX is planning to construct a pilot plant within 12-18 months.

 

The Company also holds two exploration licences in the Eyre Peninsula, South Australia which are prospective for kaolin / halloysite and manganese, key materials for the decarbonisation of industrial processes, Hydrogen storage, CO2 Capture and battery precursor material.

$0.20Price
Up to $8 millionSize of Offer
06 Dec 21Offer Open
10 Dec 21Pay By
IPO Live

Belararox Ltd ASX: BRX

Belararox Ltd
Mineral explorer focused on meeting the surge in demand from battery and renewable energy markets

 

Belararox Limited (ASX: BRX) is an Australian mineral explorer focused on securing and developing resources to meet the surge in demand from the technology, battery and renewable energy markets.

 

The Company directly owns 100% of the Belara metals project in NSW that comprises a granted exploration licence and two exploration licence applications, and the Bullabulling gold and nickel project located Western Australia that comprises a package of 26 granted prospecting licences located close to the Bullabulling Gold Mine.

 

The Belara Project is a highly prospective near-term base metal opportunity. Previous drilling has shown mineralisation with excellent continuity, containing significant intersections of zinc, copper, silver, lead and gold and is located close to well-developed infrastructure. 

$0.20Price
Up to $6 millionSize of Offer
30 Nov 21Offer Open
06 Dec 21Pay By
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Dragonfly Biosciences Ltd ASX: DRF

Dragonfly Biosciences Ltd
Producing high quality CBD health and wellness products from ‘seed to shelf’, sold through blue chip retailers

 

Dragonfly Biosciences Limited’s (ASX: DRF) develops cannabidiol (CBD) health and wellness products derived from the cannabis plant, owning and operating the entire production chain from ‘seed to shelf’. EU licensed strains are grown on its own organically certified fields in the EU, with CBD extraction undertaken at the Company’s ‘state of the art’ large scale extraction facility. 

 

Dragonfly has a 3-year track record of selling its CBD products through blue chip retailers in the United Kingdom (UK), such as Boots, Tesco, Sainsbury’s, Amazon and Harrods, and is now targeting international expansion to Australia, Asia Pacific and the USA. The company is forecasting revenues of $6.9 million for FY2021.

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02 Dec 21Offer Open
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Kredible (Tagg Technologies Pty Ltd)

Kredible (Tagg Technologies Pty Ltd)
Revolutionary talent search platform disrupting Australia’s multi billion dollar recruitment and job search industries.

 

Kredible is the next generation of talent search platforms, completely flipping the hiring process on it’s head by offering employers a searchable database of professionals who have all been verified by their previous employers via extensive reference checks, all displayed in an Uber-style review format. 

 

Currently, almost all businesses conduct talent searches through job boards or recruitment agencies via a lengthy, expensive and highly inefficient process. Kredible aims to fix this by offering employers a technology enabled platform to hire talent considerably faster, cheaper and with much more accuracy.

 

Disrupting this process represents a contestable revenue opportunity of over $12 billion in Australia alone.

 

Before investing please consider the offer document and the general risk warning

Min. reached - now targeting $1.25 million

104%

$259,655

Raised

4.8-20%

Equity

47

Investors
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ReNutrients Pty Ltd

ReNutrients Pty Ltd
Cleantech meets Agtech. Revolutionary technology. Returning Nutrients to Nature

 

Every year over 419 million handheld batteries are sold in Australia and just 4% of these are recycled with the rest going to landfill. As batteries begin to break down in landfill, heavy metals can leach into the surface and groundwater, polluting our soils and waterways.

 

ReNutrients is on a mission to address the issue of battery waste in Australia whilst returning the valuable minerals used in the batteries to the ground. Via their exclusive distribution agreement with Finnish cleantech company, Tracegrow, ReNutrients has a suite of organic fertilisers made from recycled batteries that have shown increased yields for growers by up to 26% compared to traditional competing products.

 

Before investing please consider the offer document and the general risk warning.

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110%

$274,305

Raised

5-13.6%

Equity

184

Investors