NZ tech firm Postr gets $3m boost

Milan Reinartz, whose tech company Postr has just attracted a $3m investment for its app which hires out smartphone users' lock screens in exchange for data or airtime. Photo / supplied

A New Zealand-based tech company has attracted a $3 million investment as it looks to expand into South East Asia and Australia.

Postr lets people "hire out" their Android lock screens to advertisers in exchange for mobile data or airtime.

Since Postr was founded in 2014 and teamed up with New Zealand telco Skinny Mobile, over 60,000 New Zealanders have downloaded the app.

Company chief executive Milan Reinartz said the latest investment was led by a group of private investors from Singapore and was being supported by previous investors.

"We are delighted to welcome a few new names and well-aligned groups and individuals to our small shareholder base," he said.

"It was important for us to find the right investors and to build a board that has an understanding of the telecommunications and advertising industries - people who are in a position to provide the right governance to help myself and our exec team achieve our goals in 2017 and beyond."

The company wanted to expand globally, and was currently placing an emphasis on large developing markets in South East Asia where Android was dominating the market. The company was also looking to expand into Australia.

The phenomenon of "sponsored data" was on the rise, with mobile data being the most sought-after source of connectivity, Reinartz said.

People were increasingly unwilling to pay for minutes or SMS, instead using services like WhatsApp and Facebook Messenger to make calls and send texts. Postr gave mobile operators another revenue-raising tool.

People who download Postr's white-label apps get personalised advertising appearing on the lock screen of their cellphone or tablet, where they can either click to engage with it or unlock and use their device as they normally would.

They earn benefits from their telecommunications provider, ranging from 200MBs to 1GB of monthly mobile data, call time or other credits, depending on market conditions and telco offerings.