Digitising a $62 billion U.S. scratch-ticket habit into a high-margin, repeat-revenue rewards platform, Scratchee is already live in 44 states with proven unit economics and accelerating payback.
Scratchee
SCR
Lead Manager
Contact - Jake Grbavac
0474 484 982
jake@liquidity.com.au
Minimum Investment
A$25,000
Offer Details
Issue Price (Per Share)
A$1.477
Offer Size
A$4,187,634
Shares Available
2,835,539
Scratchee is raising approximately US$3.0m via a private placement.
The Offer will be set at an Offer Price of US$1.058 per new ordinary share and will result in the issuance of approximately 2.8 million new fully paid shares in the Company.
The Company reserves the right to increase the amount raised without notice.
Shares on Issue
36,000,000
Pre-Money Valuation
US$40.0 million
Post-Money Valuation
US$50.2 million
Any bids for Scratchee securities of less than US$250,000 will be aggregated and held under a bare trust arrangement administered by Peloton Capital.
Documents & Downloads
Company Overview
Scratchee is a U.S.-based rewards membership platform that digitises the entrenched weekly scratch-ticket habit into a mobile-native, repeat-purchase product. Customers buy fixed-price access packs that unlock discounts across a large network of household brands, alongside digital scratch experiences that deliver instant cash prizes and drive strong repeat engagement.
The company is live across 44 U.S. states, operates under a sweepstakes-compliant, “no gambling licence” model, and has already demonstrated attractive unit economics with fast customer payback. Capital is being deployed to scale proven acquisition channels, enhance the product (including app and UX), and extend into adjacent markets such as Canada, positioning Scratchee as a founder-led, compliance-first growth story leveraged to a 62 billion dollar offline behaviour.
High-Margin, Compliance-First Revenue Engine
The company generates revenue when customers buy access packs, retaining a significant portion of cash inflows while a large share of prize winnings is typically recycled into additional purchases, underpinning a capital-efficient, high-margin transaction engine. With demonstrated sub‑8‑month payback on customer acquisition and an established multi‑million dollar revenue run-rate, new capital is intended to scale validated marketing channels, enhance the product suite and support staged expansion into Canada.
Upmarket, Repeat-Use Customer Base
Scratchee’s paying users skew meaningfully upmarket versus traditional lottery players, with the majority in US$40,000–US$100,000 household income bands, aged roughly 32–42, evenly split by gender and motivated by value and convenience. This profile supports higher average monthly spend (around US$170–US$235 per active customer) and underpins the observed repeat-purchase behaviour that supports a sub‑8‑month CAC payback and a revenue run-rate growing from roughly US$8.6–US$11 million towards approximately US$30 million.
Experienced Operators in Regulated Markets
The leadership team has prior experience scaling and exiting regulated consumer businesses, including senior roles at Tabcorp, Ladbrokes Australia, Neds and iSelect, as well as the sale of a previous consumer venture to News Corp. This background in gaming, marketing and financial services operations is directly relevant to managing Scratchee’s regulatory, payments and customer acquisition complexity as the platform scales.
Use of Funds
A$
%
Marketing
$2,472,000.00
82.4%
Staff Costs
$165,000.00
5.5%
Software Expenses
$93,000.00
3.1%
Website & Hosting Costs
$84,000.00
2.8%
Professional Fees
$126,000.00
4.2%
Other Expenses
$63,000.00
2.1%
Total
$3,000,000.00
100%
Marketing
$2,472,000.00
82.4%
Staff Costs
$165,000.00
5.5%
Software Expenses
$93,000.00
3.1%
Website & Hosting Costs
$84,000.00
2.8%
Professional Fees
$126,000.00
4.2%
Other Expenses
$63,000.00
2.1%
Total
$3,000,000.00
100%
Disclaimer
This site does not constitute an offer, recommendation, or invitation to any person, nor does it purport to provide all of the information an interested party may require in order to investigate the affairs of Scratchee. This site is provided for information only and has not been prepared with the intention that the recipient should rely on it. Liquidity Technology Pty Ltd ("Liquidity") does not make any representation in relation to the contents of this site or give any assurances as to the accuracy or the degree of care or diligence used in preparing this document. The information, data, and advice herein is provided to recipients on the clear understanding that Liquidity nor any of its representatives, directors, officers, employees, agents, or advisers makes any representation or warranty about its accuracy, reliability, completeness, or suitability for any particular purpose and does not accept liability (including, but not limited to, for any expenses, losses, damages, and/or costs (including, but not limited to, indirect or consequential damage)) nor take any responsibility of any kind whatsoever (including, but not limited to, whether in contract, tort, financial or otherwise) for the information, data, or advice contained in or for any omission or for any other information, statement, or representation provided to any recipient (including, but not limited to, as a result of information, data, or advice being inaccurate, unreliable, incomplete, or unsuitable in any way and for any reason whatsoever). Users of this site must conduct their own investigation and analysis regarding any information, statement, or representation contained or provided to any recipient or its associates by Liquidity or any of the Liquidity Personnel. Each recipient waives any right of action, which it has now or in the future against Liquidity or any of the Liquidity Personnel in respect of any errors or omissions on or from this site, however caused. All rights are reserved. If the whole or any part of a provision of this "Notice and Disclaimer" is invalid, illegal, or unenforceable, then such provision will be severed and neither that part or provision or its severance will affect the validity or enforceability of the remaining parts or provisions.
Disclosure of Interest: Liquidity receives commission from dealing in securities and its introducers of business may directly share in this commission. Liquidity and its associates may hold shares in Scratchee.
