Smartbuy has scored an injection of $500,000 into the corporate coffers after Tag Pacific Ltd took a 17 per cent interest in the company.
Smartbuy managing director Tony Gattari told ARN the investment came by way of introduction through existing investors Brait Capital and Allco Finance.
Tag Pacific agreed to the investment through its wholly owned subsidiary Tagpac Securities, once Smartbuy had completed its restructure and sealed its first e-commerce deal with Tandy, Gattari explained.
"It's a vote of confidence in a very negative environment," he said.
The addition of Tag Pacific now gives Smartbuy a total of four investors, including Colonial First State Equity.
Smartbuy reports it is now actively seeking other business partners in non-competing industries to offer e-tail and e-commerce services.