• Reckon invests US$4.5 million (AUD 7.0 million) in nQ Zebraworks
• Funding will support cloud growth and increased headcount in sales, support, and development
• nQ Zebraworks CEO says investment will allow them to capitalize on market opportunities

Reckon Limited ('Reckon') has announced that it, together with minority shareholders, has agreed to provide US$4.5 million (AUD 7.0 million) in funding to its subsidiary nQ Zebraworks to continue to pursue cloud growth. Reckon's commitment is US$3.75 million (AUD 5.9 million), which includes Reckon's pro rata entitlement and a portion of the shortfall from certain minority shareholders. Reckon will contribute US$1.6 million on issue of the preference shares, via conversion of existing debt, with the balance of the commitment at call by nQueue Zebraworks Inc. The balance is anticipated to be fully called by the end of 2026. The funding will allow nQ Zebraworks to pursue a higher growth strategy that commenced at the end of Q3 2024, with an increased headcount in sales, support, and development. Reckon Group CEO, Mr. Sam Allert, stated that Reckon has committed significant resources to the development of nQ Zebraworks' cloud-based technology and the build-out of its sales and support functions over the past few years, and remains confident that the addressable market for the BillingQ offering justifies their continued investment. nQ Zebraworks CEO, Bill Bice, said that the additional investment will allow them to pursue the market opportunities for BillingQ that they have been building towards, and that it is an exciting time to lead the business as they look to capitalize on years of development effort and drive exponential sales growth in the near term.

The additional US$4.5 million (AUD 7.0 million) funding for nQ Zebraworks is expected to support the business through to the end of 2026 and allow them to pursue a higher growth strategy with an increased headcount in sales, support, and development.