Felix Group to Boost SaaS Offerings with $12 Million Nexvia Acquisition

Felix Group (ASX: FLX) has struck a deal to acquire Brisbane-based SaaS provider Nexvia and will raise up to $17 million to fund the purchase and accelerate its vendor monetisation strategy.

The company expects the $12m acquisition – which combines cash, scrip, and performance rights – to lift its pro-forma annual recurring revenue to $11.9m in FY25, a 38% increase on its standalone forecast.

Felix said the move broadens its construction-focused platform and unlocks new growth streams across its 110,000-strong vendor marketplace.

Nexvia a Strategic Fit

Nexvia provides project management software for construction SMEs including subcontractors, fit-out specialists and builders.

Its tools cover budgeting, scheduling, compliance, reporting and document control, replacing manual processes and fragmented systems with a centralised SaaS solution.

With 172 customers, $3.3m in FY25 recurring revenue and EBITDA breakeven, Nexvia brings both scale and proven unit economics, with a median $13,000 in recurring revenue per customer.

Monetised Vendor Base

Felix co-founder and chief executive Mike Davis said the acquisition marks a step-change in the company’s ability to monetise its vendor base.

“Nexvia brings a proven, highly complementary platform and capability set to Felix, delivering a turn-key solution to activate and scale monetisation,” Mr Davis said.

“With a large and growing vendor base already in place, we are now well positioned to unlock the value of the ecosystem we have built.”

$17m Capital Raising

Felix will fund the deal through a fully underwritten two-tranche placement to raise $16m at $0.22 per share, plus a non-underwritten $1m share purchase plan (SPP) at $0.21.

Global investor Briarwood Capital Partners will emerge with a 16.1% stake, while Felix directors will also participate across the placement and SPP.

Placement participants will receive five free attaching options for every seven new shares, exercisable at $0.31 over five years, subject to shareholder approval.

Integration Underway

Felix has already commenced the Nexvia integration, and expects to commercially launch a combined solution in FY26.

The company believes the acquisition deepens interoperability between its enterprise procurement workflows and SME project delivery tools, enhancing data insights and strengthening network effects.

Completion of the deal and settlement of the second tranche of the placement are scheduled for early October, with Felix targeting accelerated growth through expanded vendor engagement and cross-selling opportunities.