Growth Credit
Growth Credit Financing for Scaling Technology Companies
Debt funding to support the continued growth of venture-backed businesses, with the support and resources of a highly experienced Venture Capital Firm.
What is growth credit?
How it works
Growth credit is a flexible form of debt funding tailored to high growth technology companies.
You can use it like equity to invest for growth but pay interest rather than giving up equity in your business.
Benefits
- Lower cost than equity finance
- Minimal dilution
- Avoid setting a valuation
- Retain control – no voting rights or board director
- Value add from an institutional investor
Use cases
- Growth capital with limited dilution
- Extend runway to next funding round
- Cash buffer to reach profitability
- Credit line for unforeseen spend
- Acquisition finance
- Manage working capital swings
Is it right for you?
Take the quiz to find out if credit is a viable funding option for your company.
Who is it for?
Our approach
What we provide
- Facilities of $1 – $20M
- Funding can be funded upfront or tranched over time
- Amortising loans over 3 – 4 years; interest only periods available
- Tailored to your business and covenant light
- No Director Guarantees
- Minimal dilution via warrants – typically equating to less than 0.5% of the cap table
It’s important that you select a credit provider that’s the right fit for you and understands your business.
Products
We provide Venture Credit and Growth Credit funding, supporting founders and businesses at pivotal stages on their scaling journey.
Venture Credit v Growth Credit
Venture Credit
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Tech Company
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Series A Minimum
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$3M+ ARR
-
VC Backed
-
High growth
Growth Credit
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Tech Company
-
Later stage (beyond Series A)
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$7M+ ARR
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VC or Institutional Backing
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High growth; Min 30% p.a.
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Lower cost with wider structuring options compared to Venture Credit
Growth Credit Portfolio
William On
Co-Founder & Co-CEO, Shippit
Being part of the 1V family has opened opportunities across the Australian investor community and their commitment to helping founders grow has been unparalleled – not only from a learning & development perspective but also connecting founders together in various stages of growth.
Josh Foreman
CEO & Founder, InDebted
We chose growth credit to support our global growth strategy. OneVentures understood our objectives and moved quickly to execute our plans, structuring the facility in tranches to minimise interest payments and maintain control over our cash flow, while allowing us to scale our financing up or down in response to uncertain M&A outcomes.
John Croll
CEO & Co-Founder, Truescope
We chose the Growth Credit Fund because OneVentures brings a disciplined, supportive approach that aligns well with scaling a technology business.
Working with the OneVentures Growth Credit Fund has been a very positive experience for Truescope. Their credit process was thorough, transparent, and strongly focused on how we are growing the business. The due diligence was professional and detailed, giving us confidence in their understanding of our model and strategy.
Mina Nada
CEO, Zoomo
Working with OneVentures and their partners Viola Credit to secure venture credit funding to support Zoomo‘s Series A round was a pleasure – Nick and the team were great to work with and the process was rigorous but fast.
Gary Zurnamer
CEO & Co-Founder, Vouch
The process from start to close with 1V was great! Ryan and Nick were our key contacts. They were clear, upfront about their diligence and responsive to the timeline we set together. I would highly recommend them and the 1V team.
Growth Credit Investment Team
Dr Michelle Deaker
Founding & Managing Partner
| Location: Sydney, AU
Michelle is a Founding Partner and the Managing Partner at OneVentures. She serves on the investment committees of OneVentures funds and has led the capital raising activities for the firm. Her focus today is in the technology growth practice, though she has also worked extensively across both healthcare and technology investments.
With over 25 years’ experience building and investing in high growth technology companies across Australia and the US, Michelle has a proven track record in global business expansion and Australian R&D commercialisation. She has led or co-led, and served as a Director of, several landmark investments including Employment Hero ($2B valuation, 13x ROI, Returned 1.5x Fund II), Phocas (7x ROI, acq. Accel-KKR), Smart Sparrow (acq. Pearson Learning), My Mobile Data (acq. ASX:AYS), Hatchtech (Lic. to NYSE:RDY), and Vaxxas. Michelle chaired the Employment Hero board until December 2023 and continues to serve as a Director, alongside board roles at Vaxxas and Buildkite, and previously Phocas.
A current member of the Reserve Bank of Australia’s Payment Systems Board, Michelle is also a former board member of Australia’s National ICT Centre of Excellence (NICTA, now Data61), Seven West Media (ASX:SWM) and served on the NSW Government’s Digital Economy Taskforce.
In the lead up to founding OneVentures, Michelle worked for a leading family office on their alternative investments, served as an entrepreneur in residence at Southern Cross Venture Partners and was an angel investor. Prior to her investment career, Michelle was a business entrepreneur and founder, including one of Australia’s first fintech companies, E Com Industries (www.giftvouchers.com) (acq. LSE:ReD, 4.6x, 70% IRR), IT services business, Networks Beyond 2000 and a tertiary tutoring business.
Michelle is a member of the Australian Institute of Company Directors and Chief Executive Women (CEW). She was a founding advisory board member of Head Over Heels (now Apropela), supporting women entrepreneurs, and served on the advisory board of the Indigenous fund Ochre Ventures.
In addition to these roles, she lectures in the Australian Investment Council’s Foundations of Private Capital Venture Capital Course and is a Co-Founder of WinVC, a non-profit women-led initiative supporting the career trajectory of women investors in venture capital.
Michelle holds a Bachelor of Science (Honours), a Master of Science and a PhD in Applied Science.
| BSc (Hons), MSc, PhD
Nick Gainsley
Partner, Head of Growth Credit & Director
| Growth Credit
| Location: Sydney, AU
Nick heads OneVentures’ Growth Credit practice and serves on the investment committees for the Growth Credit and Growth Equity funds as well as the OneVentures Board.
With nearly 20 years of experience in growth credit investing and debt advisory, he has led over $500M in financing for more than 100 companies across sectors including SaaS, PropTech, FinTech, RetailTech and MedTech. Notable investments include Fleet Space, Shippit and HomeTime.
Before joining OneVentures in 2019, Nick was a Principal at Kreos Capital, Europe’s largest growth credit fund (now part of BlackRock), where he specialised in deal origination, execution and portfolio management. He began his career at KPMG in corporate finance, focusing on debt advisory and credit transactions.
He is a mentor in the AIC Women Mentorship Program and regularly shares his insights as a keynote speaker on Growth Credit and alternative financing.
Nick holds a Bachelor of Science (Hons) from Manchester University, a Diploma in Corporate Finance from the Institute of Chartered Accountants in England and Wales and a Diploma in Treasury Management (AMCT) from the Association of Corporate Treasurers (UK).
| BSc (Hons), AMCT
Portfolio Board Roles
In the news
17 April 2026
Eucalyptus sells to New York-listed healthcare giant in $1.6b deal
Growth Credit, News
09 October 2023
How this AI startup used venture debt to fuel customer acquisition
Growth Credit, News
Justine Carzino
Principal
| Growth Equity & Growth Credit
| Location: Melbourne, AU
Justine is responsible for identifying investment opportunities in Victoria and supporting portfolio deals based in the region across both Growth Equity and Credit. She leads the OneVentures Victorian Growth Fund (VGF), which invests in the state’s most promising scale-up companies.
As a Board Observer and investor, Justine works closely with portfolio companies such as XYSense, Drawboard, AmazingCo and 6clicks.
Justine has over 15 years experience working with growth stage companies across capital raising, M&A and capital management. Previously, Justine was a Senior Vice-President at Deloitte Corporate Finance in Tokyo, leading domestic and cross-border transactions. Originally from Melbourne, she returned to Australia in 2021, bringing extensive M&A experience and strong local networks.
Justine holds a Bachelor of Commerce from the University of Melbourne, majoring in Accounting and Finance. She is both a Chartered Accountant and a Chartered Financial Analyst.
| BComm, CFA, CA
Mario Rojas
Investment Director
| Growth Credit
| Location: Sydney, AU
Mario is an Investment Director on the OneVentures Growth Credit team, where he is responsible for deal sourcing, evaluating opportunities, executing transactions and supporting portfolio companies as they scale and secure follow-on funding.
He has over a decade of experience across venture capital, growth investing and operating roles in Europe, Latin America and Australia, with a strong focus on B2B SaaS technology-enabled businesses and growth-stage companies.
Prior to joining OneVentures, Mario spent three years at Octopus Ventures in the UK as an investor in the B2B SaaS team, one of the most active venture investors in the UK and mainland Europe. During his time at Octopus, he invested in companies across the UK, Europe and Australia, including Pendula, an Australian SaaS company later acquired by Accel-KKR.
Before Octopus Ventures, Mario was COO at Equity Advisors, a Colombian fractional CFO and financial advisory firm, and earlier an Investment Manager at Axon Partners Group investing across Latin America.
Mario holds an MBA from the University of Oxford, where he served as Deputy Managing Director of the Oxford Seed Fund, a Master’s in Corporate Finance from CESA Colombia, and a dual degree in Industrial Engineering and Economics from Universidad de los Andes, Colombia.
| MBA, M. CorpFin, B. Eng, B.Econ
Ryan O’Dea
Investment Manager
| Growth Credit
| Location: Sydney, AU
Ryan is an Investment Manager on our Growth Credit team and is responsible for deal sourcing, evaluating opportunities, executing transactions and assisting portfolio companies in scaling and securing follow-on funding where appropriate.
He has worked on deals with companies such as Cascade and Biza.
Previously, Ryan worked at Wayflyer, a venture-backed fintech scale-up providing revenue-based financing to eCommerce brands. He led business operations and new product development, helping scale the company from 30 to 300 employees. Before that, he advised consumer goods and financial services clients as a consultant with McKinsey & Company.
Ryan holds a Bachelor of Science in Economics and Finance from University College Dublin.
| B.Sc. Economics & Finance
Shawn Li
Investment Associate
| Growth Credit
| Location: Melbourne, AU
Shawn plays a key role in the Growth Credit team, contributing across the entire deal cycle through portfolio analysis, due diligence and guiding transactions at every stage.
Before joining OneVentures, Shawn worked in the strategy team at Accenture, focusing on growth, decarbonisation, M&A and technology. Prior to that, he worked at Uber as an Operations Associate, managing consumer behaviour and lifecycle across the Rides, Eats and CommOps teams.
Shawn holds a Bachelor of Commerce from the University of Melbourne, majoring in Economics and Finance. He represented his university in international case competitions in Norway and Thailand, providing strategic advice to multinational companies.
| BCom (Economics & Finance)
KEY FEATURES

Criteria for Entrepreneurs
To fit our mandate, your company must be:
- Domiciled in Australia or New Zealand, or with strong connections to Australia
- A high-growth technology company generating >$3M – $5M recurring revenue
Investment process
A pathway to partnership.
01. Apply
Do you believe your company is a good fit to our investment mandate?
We’re excited to learn more about your business and what you are building. Apply now, and one of our team will be in contact.
02. Investment Team Screening
Our investment team manages a high volume of new opportunities and takes the process of assessing each and every one seriously.
We ask that you give us some time to respond (we aim to respond to all enquiries within two weeks).
03. First meeting
If we feel your opportunity is a good fit to the mandate for any of our funds, we will schedule a meeting with one or more members of our investment team to learn about your company, the technology and product, and the leadership team. This first meeting may be via video conference or in person.
04. Preliminary due diligence
If our first meeting goes well, we will appoint a deal lead who will be your primary liaison with OneVentures and undertake some preliminary due diligence to understand more about your company. During this period, we will often ask for additional information and we may meet with you again.
At this stage we will typically focus on:
- People – We look for quality, experienced management teams with ambition.
- Traction to date – We seek to better understand your revenue to date including quality of customers, and assess your projected financial performance
- Product / Technology – We seek to understand your product offering including its features, to assess the value to your customers. How unique is your offering?
- Market – Does your product have strong market pull? Is the market attractive, in terms of size and access?
- Competition – How are you placed relative to competition? Are there strong barriers to entry?
- Business metrics – Assess your business metrics and your customers. For example, what is the cost of customer acquisition? What is the lifetime value of the customer? What is the average revenue per user? Are your customers sticky?
- Financing need – How can debt be a useful to you and does it achieve your objectives? What structure is best for you.
05. Terms
Following our preliminary due diligence process, we will present the opportunity to our investment committee. Subject to a positive outcome we will provide you a term sheet for discussion.
05. Confirmatory Due Diligence and Investment Committee Meeting
Assuming we agree terms, we now move into a more detailed due diligence process. We will provide you with a detailed list of the due diligence materials we require access to and will ask you to assemble them in a secure data room.
We will meet many times during this period and will require access to additional documents and information. Activities may include meeting with all the members of your team and visiting your premises, interviews with customers and partners, and discussions with other investors and potential acquirers of your business.
Our aim during this process is to independently confirm the information, claims, projections and assumptions you have provided to date.
In relation to debt financing, this step is typically streamlined and usually results in a quicker investment than with equity financing.
At the conclusion of our due diligence process we will present to our investment committee for final sign off the transaction.
06. Legal documentation
For a credit investment, we will run the legal documentation process in parallel to the confirmatory DD stage.
This stage involves the drafting and finalising of legal documents for our investment. Documents include a loan agreement, warrant agreement and security documentation. During this period, we will each be represented by our own legal counsel who will be heavily involved.
When the due diligence process is completed and the documents are agreed and signed, we will be ready to fund the first tranche of our investment subject to the terms agreed. Congratulations – our partnership has formally commenced!
Apply for
Growth Credit Investment
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