Lock it in - Quadrant Growth Fund is partnering with smartphone accessory leader, Quad Lock, with plans for global expansion.
Quad Lock, a designer of a patented smartphone mounting system, took its product to market via crowdfunding, social media and e-commerce.
“We are excited to be partnering with Rob and Chris and the Quad Lock team,” said Justin Ryan, the Managing Partner of Quadrant. “We are particularly attracted to Quad Lock’s global customer reach via its market leading direct-to-consumer online business. The Company’s continued growth is supported by established industry tailwinds including our increasing reliance on connectivity through smartphones and the importance of outdoor activities as part of a healthy lifestyle.”
Smartphones have been one of the biggest consumer trends in the last decade, and with the e-commerce boom showing no signs of slowing down, the increase in mobile sales and accessories is far from dwindling.
Quad Lock was founded in 2011 in Melbourne and offers smartphone mounting systems to fit cars, bicycles, and motorcycles. The B2C platform is currently sold in more than 100 countries, making it one of the leading retailers within the industry.
“Quad Lock has experienced incredible growth in recent years due to the team’s continued focus on innovation and new product development. We are looking forward to investing capital to accelerate product range expansion and continued international growth,” said Louise Haslehurt, the Investment Director at Quadrant.
Quad Lock Co-Founder, Chris Peters
Quad Lock was bootstrapped for eight years, and the Co-Founders felt that there was no better time for the investment than now. “We’ve been bootstrapped for eight years now and we’re very proud of what the team has accomplished,” said Rob Ward, Co-Founder of Quad Lock.
The next steps for Quad Lock include global expansion and further development of the product offering.
“We’re also extremely grateful for the continued support of the Quad Lock community. We felt now was a great time to bring on a partner to further accelerate our growth with both know-how and capital. Quadrant understood our approach from the first meeting, and we can’t wait to get to work building Quad Lock into an even better business with a broader product range.”
This is the sixth investment that Quadrant has made from the $400 million Quadrant Growth Fund, which was raised in April 2019. The Growth Fund is run and advised by Justin Ryan and Simon Pither.
Quadrant has also made investments in Arq Enterprise, Love to Dream, Grays Online, and Modibodi. Most recently, Quadrant has been working with Adore Beauty for developments of an IPO.
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