New York, New York--(Newsfile Corp. - January 25, 2024) - The fastest growing community in Australia for 50+ year olds, Chirpy Plus, has welcomed investment from Marbanc International to fuel the online network's expansion into the United States, helping address the growing need for communities that address loneliness among the global ageing population.
Shaun & Carol Mahoney, Co-Founders of Chirpy Plus
Marbanc International has taken a stake in the online networking business via its wholly owned Australian subsidiary, Income Direct, shortly after the company was awarded Queensland's 2024 Telstra Award for Embracing Innovation. Chirpy Plus is now preparing for the National Finals in the 2024 Telstra Best of Business Awards held in Sydney this February.
The Chirpy Plus friendship community solves loneliness for over 50's in Australia and was started by mother-and-son duo Carol and Shaun Mahoney. Both high achievers, Carol was one of New Zealand's first female Chief Technology Officers and Shaun a winner of numerous awards in the US financial services industry. Since 2018 they have built a growing community of over 3,000 members who collectively meet over 125 times per week in over 100 locations, helping forge new friendships and networks.
Chirpy Plus CEO Shaun Mahoney said "We are thrilled to have the backing of Marbanc and Income Direct as shareholders in Chirpy Plus. They were recommended to us because of their expertise in helping companies like ours scale into overseas markets. The doors they have started to open for us are very exciting and align with our vision of helping millions of people experience real connections."
It is widely recognised that active social circles can prolong lifespan, improve health and mental wellbeing. Chirpy Plus is presently working on expanding its group travel offerings following successful recent trips to destinations including Egypt, South Pacific and New Zealand.
Income Direct's Executive Chairman Gerard Sivaprasad said "This asset aligns with our strategy of deploying capital in businesses that drive positive change and can be scaled into broader markets. We look forward to helping put them on the world stage as they address a growing need in society for real human connection."
About Chirpy Plus
Chirpy Plus is the fastest growing network of over 50's in Australia. The 2024 Telstra Award-winning business holds more than 500 events around Australia every month for a nominal monthly fee which are coordinated via its online community. Chirpy Plus helps address loneliness, forges new friendships and relationships, and offers travel events and other incentives to its fast-growing membership base.
About Marbanc International Corporation
Marbanc International Corporation is a New York headquartered asset management group with diversified global interests. The group focuses on private equity investments and investing in alternative asset classes where capital can be used to scale operations. The group is actively seeking to deploy USD150 million in growth stage businesses internationally over the next two years. Marbanc International owns Income Direct, a provider a fixed income solutions to Australian clients seeking competitive returns and regular income.
Gerard Sivaprasad
Executive Chairman, Income Direct
gerards@incomedirect.com.au
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