Target Information

Investible is excited to announce its investment in Mist, a comprehensive super app designed to address the relocation challenges faced by international students. Founded by John Crutchley and Dave Malcolm, Mist streamlines the process for international students by offering a one-stop-shop solution to set up their banking, telecommunications, insurance, and lifestyle services before arriving in their destination country. This innovative approach drastically reduces the stress, time, and costs typically associated with moving abroad, allowing students to access necessary services conveniently from their phones.

International students often encounter fragmented processes when organizing their move, frequently having to conduct research and visit service providers in person once they arrive. Mist addresses these issues by enabling students to manage all their essential services pre-departure, making their transition smoother and more efficient. With the shift back to pre-COVID levels of international student migration, Mist is well-positioned to capture this growing market.

Industry Overview in Australia

Australia is witnessing a significant resurgence in international student enrollment, with 577,295 student visas granted in FY23—a remarkable 119% increase from FY22. This upward trend indicates that international student migration is quickly returning to pre-pandemic figures. The Australian Government is actively supporting the international education sector, providing a conducive environment for sustained growth in this market.

Market research indicates that over 90% of international students prefer a singular platform where they can efficiently manage their financial and lifestyle needs. Mist's first-mover advantage allows it to capitalize on this demand, offering a comprehensive tech solution that aggregates various services into one user-friendly app.

Additionally, the necessity for such solutions extends beyond Australia to other developed countries like the UK, Canada, and the US, where international student migration is also on the rise. This growing trend has created a pressing need for services that simplify the relocation process for students across these regions.

The Rationale Behind the Deal

The investment in Mist aligns perfectly with Investible's commitment to supporting innovative solutions that address significant market challenges. By enabling students to access a full suite of essential services before their arrival, Mist not only alleviates the stress of relocation but also creates a demand for a centralized service provider in a previously fragmented market.

The strategic partnerships and exclusive agreements established by Mist with reputable service providers also enhance its value proposition, enabling a scalable launch in Australia and expansion into key international markets.

Investor Information

Investible, a prominent player in the venture capital sphere, co-led Mist's A$1.6 million pre-seed funding round, alongside Allectus Capital, with contributions from Archangel Ventures, SeedSpace Venture Capital, and a group of angel investors. This collaborative investment underscores the confidence in Mist’s potential to revolutionize the international student relocation experience.

As a forward-thinking investment firm, Investible is dedicated to supporting startups that facilitate growth and innovation within their respective industries. Through its strategic investments, Investible aims to foster technological solutions that meet contemporary needs.

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In conclusion, Investible's investment in Mist is seen as a highly strategic move that is likely to yield significant returns. The founders' extensive experience in international banking and direct-to-consumer marketing, coupled with their complementary skill sets, positions Mist for successful scalability in both domestic and international markets.

Moreover, Mist's unique market offering, along with the pressing need for streamlined relocation solutions among international students, suggests a promising outlook for growth in the coming years. The strategic partnerships that Mist has established further augment its competitive advantage, allowing it to leverage existing networks while rapidly expanding its service offerings.

Investible's proactive support will be crucial for Mist as it seeks to implement its global expansion strategy, and the anticipated demand for such services indicates that this investment will be mutually beneficial, aligning perfectly with Investible's strategic objectives.

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