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The Venture Codex

Carthona Capital

Level 26, 1 O'Connell Street, Sydney, New South Wales, 2000, Australia

Overview

Carthona Capital is a hands-on, proactive, and thematic venture capital investor based in Sydney, Australia that invests globally. Carthona Capital was founded in 2014 when a group of like-minded venture investors came together to invest on a deal-by-deal basis. Since then, Carthona Capital has shifted to a more traditional venture capital fund structure, and is now deploying its third fund with approximately $400m in funds under management from a mix of Institutional (Superannuation), Family Office and High Net-worth investors. Carthona Capital likes to invest very early - their initial investment into a business is usually at the Pre-Seed, Seed, or Series A stages. Carthona then likes to follow-on strongly and continue to deploy larger amounts of capital as a business matures.

Total investments
40
Lead investments
16
Investments · 12mo
1
Active investors
8

Sector focus

  • Financial Services
  • Venture Capital
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Investment portfolio

  • LendUs

    Led · Seed · Jul 2026

    LendUs offers a turnkey, embeddable platform that allows consumer-facing brands to embed home loan comparison and origination tools directly into their ecosystems. The platform enables customers to compare rates and connect with lenders without leaving the host brand’s environment, positioning consumer platforms as the distribution channel rather than traditional mortgage brokers. The company reports early traction with more than 20 integrated partnerships, over 10,000 users who have compared home loans via the platform, and 150% platform growth between January and May. LendUs was founded and is led by Dean Mendelowitz, a former data scientist at Zip Co, and has founding shareholders including Brad Lindenberg and Graham Mendelowitz. Following its $5 million seed raise led by Carthona Capital, LendUs plans to expand its partner network and deepen its technology stack to pursue broader national integrations. The article did not disclose revenue or valuation figures.

  • Qlarifi

    Participated · Seed · Mar 2025

    Qlarifi offers a real-time, comprehensive consumer credit database with a particular focus on Buy Now Pay Later (BNPL) transactions that are often excluded from traditional credit reports. Its platform updates data every 3.5 seconds, enabling lenders to make more accurate and timely underwriting decisions and to detect fraud patterns earlier. The service is built for scalability and aims to reduce operational risks and scoring costs for lenders while improving access to credit for responsible consumers. Qlarifi emphasizes data privacy and security and states compliance with regulations such as GDPR and CCPA. The company plans to use new funding to build out data infrastructure and drive customer acquisition across key markets. Sector context noted in the article: there are nearly 415,000 daily BNPL applications in the UK.

  • BuildPass

    Led · Seed · Oct 2024

    BuildPass provides a platform for compliance, contractor management and site operations and integrates AI tooling from providers such as OpenAI and Anthropic. The Melbourne-based scale-up has surpassed 1,000 customers, 400,000 users and 100,000 subcontractors across four countries. Six months after opening an Austin office the US now accounts for more than 20% of revenue and the company is posting over 50% month-on-month growth in the US. Global revenue is running above 100% year-on-year. BuildPass faces established competitors in the US including Procure and Autodesk’s Construction Cloud. The company is using new capital—equity seed funding and venture debt—to hire in the US and scale its go-to-market efforts.

  • InDebted

    Participated · Series C · Sep 2024

    InDebted provides organizations with a technology-driven, customer-centric alternative to traditional debt collection, using machine learning to personalize each collections journey alongside a dedicated Customer Experience team. The company employs roughly 300 people, with almost half based in the United States, and its founder and CEO relocated to the US in 2023. InDebted now generates 70% of group revenue from US operations, a market that grew 195% over the last fiscal year. The business reached operating profitability in February 2024 and reports a compound annual growth rate of 110%. Management plans to use new capital to fund market expansion, pursue an M&A strategy, and continue product and solution development, with launches planned in the UAE and Mexico next month and later expansion into Europe and South America. Investors and advisers point to InDebted’s product innovation, global traction and category-leading position displacing incumbents as drivers of continued support. InDebted is a fintech startup that helps people manage overdue payments. Its core product is a debt-management platform aimed at improving the overdue payments process. The company announced expansion into the UK and highlights employee-focused policies such as a four-day work week. In its 2022 financial year it doubled its revenue. At the end of the financial year it raised $22.5 million and saw its valuation double to $200 million. The business also cut 40 staff and the CEO has signaled a shift away from 'growth at all costs.' Founded in 2015 and based in Sydney, InDebted provides a technology platform designed to facilitate debt collection for businesses while taking a friendlier approach than traditional collectors. The company has experienced rapid commercial growth, reporting 300% revenue growth over the past 12 months. Co-founder Josh Foreman says valuation has grown roughly 18× since its May 2017 seed round. InDebted raised a $1M seed from Reinventure in May 2017 and has continued to attract repeat investment from that fund. The platform is focused on scaling its collections technology and expanding its customer base among businesses requiring receivables management. InDebted provides a technology platform to help businesses, including SMEs, get paid quickly and efficiently by facilitating and managing debt collection. The company offers contingency-based debt collection services as its primary mercantile service for SMEs. For larger companies and lenders it sells a platform-as-a-service model. InDebted was founded by Josh Foreman in 2015 and is Sydney‑founded. The startup aims to disrupt Australia’s multibillion-dollar debt collection sector. It recently secured close to $1 million in seed funding to support its growth.

  • Cherre

    Participated · Series C · Sep 2024

    Cherre provides a data management and intelligence platform for the real estate industry, giving clients control over moving and managing their data while offering visibility, observability, and validation tools. The platform increases transparency into data pipelines, transforms data for interoperability, enables observability and validation across the data value chain, and supports remediation to improve downstream data quality. Cherre’s product is used for analysis, reporting, modeling, app development, and decision-making, and it partners with large data providers, applications, and service providers to create an ecosystem that supports client data needs. The company plans to invest the new capital to expand its data intelligence and insight capabilities and accelerate development of cutting-edge data management and intelligence tools. After a year of double-digit revenue growth, Cherre says the funding will allow it to scale, improve process intelligence, and help clients build a composable target operating model for competitive advantage. Cherre provides a real estate data and insight platform that aggregates property and market information for enterprise decision makers. Led by CEO and co-founder L.D. Salmanson, the company serves customers across technology, asset management, commercial brokerage and P&C insurance. In 2020 Cherre signed global enterprise customers across those sectors. The company plans to use recent funding to expand platform offerings, introduce and integrate additional partner data sets and applications, launch a customer advisory board, and grow the team. The articles note a $50M growth funding raise, reflecting an active growth-stage capital position. No revenue or user metrics were disclosed in the coverage. Cherre provides an AI-enabled real estate data and analytics SaaS platform that collects, augments, resolves, and analyzes datasets from hundreds of thousands of public, private, and internal sources. Its knowledge graph contains granular, actionable information on over 177 million properties, 84 million companies, 315K datasets and billions of connected data points. The platform supports high-performance, low-latency API delivery as well as a transactional database to meet demanding enterprise use cases. Customers include large enterprises, insurance companies, banks, and investors; common applications cited are automated P&C insurance underwriting, desk inspections, lending pre-fill, and AI decision-support for investment and underwriting. Cherre launched in 2016 and commercially launched in August 2018; it has raised $25 million in total capital to date following the latest growth round. Intel Capital said the platform is a foundational data system of record and that it will help accelerate Cherre’s global growth trajectory; the company has also established a growth-debt relationship with Silicon Valley Bank to support expansion. Cherre provides large enterprises, insurance companies, banks and investors with a platform to collect, augment and resolve property data in real time from thousands of public, private and internal sources. The platform supplies up-to-date information such as property history, demographics and market comparisons to support advanced analytics and decision-making. Cherre was founded in 2016 and is led by CEO L.D. Salmanson, and is based in New York City. The company raised $9M in a seed funding round led by Navitas Capital, with participation from Carthona Capital, iLOOKABOUT, Dreamit Ventures and Red Swan Ventures. Cherre intends to use the funds to bring its streamlined real estate data services to more clients and to expand operations throughout the U.S. and Canada. Clients include The Real Estate Board of NY (REBNY), Keller Williams NYC, Stratus Data Systems, August Partners, Platinum Properties and various other Fortune 500 companies.

Team