Australian furniture and mattress retailer Koala has raised $20 million ahead of its planned listing on the Australian Securities Exchange (ASX), signalling investor confidence in the brand's growth trajectory.
The capital raise forms part of a broader $68 million IPO, valuing the company at approximately $305 million. Shares were priced at $3.40, with new investors acquiring a 20.65% stake. Existing shareholders sold $48.1 million worth of stock, including co-founder Mitch Taylor.
© Koala
Koala plans to allocate around half of the newly raised funds to debt reduction, strengthening its financial position ahead of the listing scheduled for 31 March.
Founded in Byron Bay, the direct-to-consumer brand has built strong recognition through digital marketing and viral campaigns. CEO Dany Milham, who returned to the company in 2024, will retain a 20.7% stake.
The company forecasts revenue of $332 million, representing 20% growth year-on-year, with Australia accounting for roughly half of sales.
Koala's IPO highlights continued investor interest in digitally native furniture brands, as they scale operations and transition towards public markets.
Source: www.startupdaily.net
