Vetchat raises capital fund, partners with PetSure
Herbert Smith Freehills’ private equity and venture capital team has advised on a fundraising by Vetchat.
Firms: Herbert Smith Freehills (Vetchat)
Deal: Herbert Smith Freehills has advised on a fundraising by Vetchat – an Australian telehealth company for animals that connects subscribers with qualified veterinarians through its veterinary advice platform.
Area: Venture capital.
Key players: The Herbert Smith Freehills team was led by partner and Australian head of venture capital Peter Dunne, consultant Elizabeth Henderson, and solicitor Catie Moore.
Deal significance: As part of the fundraising, Vetchat will partner with PetSure, Australia’s leading pet insurance and pet fintech company, to help drive Vetchat’s expansion through referrals and subscriber growth.
“Current events are a reminder of the importance of online service delivery and telehealth,” Ms Henderson said.
“Vetchat’s collaboration with PetSure is an important step in its growth journey. It was great to be able to work with Vetchat’s founder, Claire, on this transaction.”
Vetchat’s co-founder and CEO, Dr Claire Jenkins, said, “This strategic investment from PetSure, a key contributor to animal welfare and the veterinary ecosystem, will support Vetchat’s growth and vision of a world where pets and carers can access [vets] anywhere, anytime.”
“Herbert Smith Freehills is commercially focused and a joy to work with, making this a seamless process so that Vetchat can focus on what we’re best at – improving pet health outcomes!”
This deal is another example of HSF’s work in the venture start-up area. Recently they had advised Earnd on their sale to Greensill Capital.