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Sydney, Dec 21: Australia’s online paint company Tint has splashed into the global home décor market thanks to capturing and naming paint colours, similar to the way Shazam captures the name of a song.
Tint co-founders DJ Dikic and Rocky Liang have seen $5 million in annualised sales since they expanded their business with Tint — offering a range of 72 popular paint hues, delivered straight to the door.
Their augmented reality (AR) experience means buyers don’t waste renovating dollars and allows them to measure how much paint they need with a few taps.
This door to door take on renovating has already garnered the backing of notable investors Ben Gray, co-founder of BGH Capital, Leig JJasper and Rob Phillpot, co-founders of Aconex, and Adam Lewis, ex-McKinsey Managing Director.
The duo have also launched a crowdfunding campaign to invite the rapidly growing DIY community to partner with the company who aim to renovate how Australians decorate.
“The outdated $2.5 billion Australian paint and home decoration industry was ripe for disruption, with not much effort historically put into creating a better, less overwhelming shopping experience for renovators,” Dikic said.
“What we’ve created is a fresh take on shopping for paint with premium and healthy paint that is water based, odour free, devoid of animal cruelty and 100 per cent Australian-owned.”
“Our aim is to ensure renovators don’t have to step foot inside a hardware store to create a beautiful space at home,” he said.
While investing in high growth unlisted businesses was once only accessible to high-net-worth investors and venture capitalists, equity crowdfunding makes investing an option for any Australian who wants to buy shares in companies they feel passionate about.
Tint is raising $500,000 (capped at $2 million) through its crowdfunding offer, which is managed by Equitise.
Equitise co-founder and managing director Jonny Wilkinson said the crowdfunding industry in Australia has more than doubled in the last two years, with total raised increasing from $28.3m to $46m in 2021.
“Funding activity in this space has started to dominate and we are seeing rapid growth in direct-to-consumer businesses.”
“E-commerce is on a growth trajectory, as the pandemic changed how we shop.
“D2C contributes about 10 percent of retail in Australia, compared to the 20-30 per cent of the overall retail level seen overseas – set to reach $4.5 trillion by the end of this year globally,” he said.
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