Professional directors and investors Justine Smyth and Paul Lockey have taken a substantial stake in Invenco Group Ltd, investing in the Kiwi technology business that formed in 2009 with Sir Peter Maire’s and technologist, David Ritten’s, acquisition of the retail automation business of ProvencoCadmus.
The Executive of Invenco are delighted with the expertise and experience that investors like Justine and Paul bring to the business. Says Invenco CEO Dave Ritten “This is a huge vote of confidence, and the business will benefit tremendously from the knowledge and contacts that quality investors like Justine and Paul bring. This will help shift us to a whole new level of performance.”
Whilst modest about their achievements, both are serious heavy hitters on the NZ business scene with a history of successful ventures to their credit. Justine is a director of Telecom, The Financial Markets Authority and Auckland International Airport and owner of Albany based Lingerie Brands and Paul is a director for Auckland Transport, Callaghan Innovation and Media Works.
Invenco Group has offices in New Zealand and Malaysia and develops secure payment technologies for a wide range of fast-moving retail situations. With already significant clients in Europe, South America, South East Asia, the Middle East and Australasia, and excellent orders for the company’s disruptive G6 outdoor payment terminal, the company is positioning to take advantage of enormous growth opportunities that are presenting in the USA market on the back of EMV chip adoption.