Tuscan Equity owned ThinkSmart was founded by Ned Montarello in 1996 as a specialist digital payments platform business.
The business grew its Australian “RentSmart” point of sale finance business operations internationally into the UK, Europe and the US markets before successfully listing in Australia in 2007. It migrated its listing to AIM in the UK and launched its “Clearpay” BNPL product in 2017. Afterpay acquired 90% of “Clearpay” in 2018 and then subsequently purchased the remaining 10% as part of its acquisition by NYSE listed Block Inc in early 2022.
Montarello owned Tuscan Equity privatised the ThinkSmart business in December 2022.
Tuscan Equity, as the primary Investment vehicle for the Montarello Family office, along with its sister entity Barbera Capital, will look to utilise its experience in the Financial Technology sector for similar strategic investments in great disruptive businesses, that are leveraging innovative Technology, AI and Blockchain platforms, and have solid financial and growth prospects, with a view to long term capital appreciation and participation in future dividend yields.
ThinkSmart has a rich heritage in delivering value via strategic investments and initiatives:
- Pioneering digital POS finance in Australia from 1996 with founder, Ned Montarello, receiving recognition with EY Australian Entrepreneur of the Year award in 1998
- International expansion commenced in 2003 with UK beachhead partnering with Dixons and a joint venture with HBOS followed by further expansion into Europe and US
- Successful $204m Australian listing in 2007
and, following the sale of its Australian and NZ
operations, migrated it’s listing to the UK AIM in
2016 - Launched Clearpay in UK in 2017 before selling
90% of that business to Afterpay in 2018 with the remainder exchanged for shares in Block as part of the $39bn Block acquisition of Afterpay - In 2022 Ned established Tuscan Equity as the buy-out vehicle to take ThinkSmart private through a Scheme of Arrangement which was implemented in December 2022
AT TUSCAN EQUITY WE BELIEVE IN GIVING BACK TO THE COMMUNITY AND MAKING A POSITIVE IMPACT THROUGH PHILANTHROPY.
“Each year, we are committed to allocate a portion of our resources to support a range of charitable organisations and causes that align with our values and goals.”
Ned and Kim Montarello
Founding Benefectors – St John of God Foundation Cancer Centre
Tuscan looks to investments in ESG responsible companies, we are supporting sustainable and ethical business practices that promote long-term growth and success for all stakeholders.
WE SUPPORT INITIATIVES THAT ALIGN WITH OUR VALUES
We are grateful to have had the opportunity to contribute to the documentary film “Chasing Asylum” as Executive Producer. This film raises awareness of important social issues, and we’re honoured to be part of such a meaningful project that resonates with our values.
“Chasing Asylum” was the recipient of the 2016 AFI Best Documentary.
