Mercurien secures 2.45M AUD from tier-one bank for expansion

Mercurien today announced that it has secured $2.45M funding for the fulfilment and expansion of current client contracts.

The funds are from a tier-one Australian Bank and will be applied to the purchase of motor vehicles under Mercurien’s innovative Fleet-as-a-Service offering.

“It is really pleasing to get the backing of one of Australia’s big four,” says Michael Graham, CEO and Co-Founder. “It proves the business model combining product/market fit plus bank backing. In this business, both are essential for success.”

Fleet-as-a-Service is a motor fleet, insurance and risk management platform that brings a new model to workplace mobility, safety and risk management.

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“Our customer-first, digitally focused ecosystem changes the approach for clients that finance, procure, operate and dispose of vehicles. It is very focused on managing Work Health & Safety (WHS) obligations by measuring, managing and coaching drivers who “work behind the wheel.” says Graham

Using IoT thinking and technology, the end-to-end approach of FaaS removes significant friction and costs in the management of the increasingly deskless mobile workforce.

“This funding will give us the headroom and resources to continue with our very strong YOY growth, says Graham. “The FaaS offering gives us scale and contributes to our ARR and TTM revenues. It has delivered a step-change in our business.” 

About Mercurien Pty Ltd

The company’s mission is to protect people and assets in the mobile workplace. To do this the company developed an end-to-end fleet, insurance, and risk management platform that brings a new model to workplace mobility, safety and risk management.

Mercurien calls it “Fleet-as-a-Service” or ‘FaaS’ for short.

With up to 75% of workers not having a fixed desk, managing risk, costs, and safety in the mobile workplace have become paramount. With Director’s obligations increasingly onerous, the only way to solve this issue is through technology, data, and analytics.

To do this the company delivers a digitally-focused ecosystem that changes the way clients finance, procure, operate and dispose of vehicles. It is very focused on managing Work Health & Safety (WHS) obligations by measuring, managing and coaching drivers who “work behind the wheel.”

Starting from an ESG* perspective the company’s approach delivers emissions reductions, improves driver and public safety, delivers cost, tax (both FBT and FTC)** and efficiency dividends. Finally, the Mercurien FaaS solution provides a data-driven approach to better decision making in safety and fleet utilisation.

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