Airtasker Limited has completed a $10million dollar capital raise to support its international expansion, with the round funded by iHeartMedia, America’s number one audio media company.
The raise follows a strong push to the 2026 financial year, with first quarter Airtasker marketplaces revenue up 20.5 per cent on the prior corresponding period to 12.1 million dollars.
That included 12.8 per cent revenue growth in Australia and 136.2 per cent growth across Airtasker’s international markets, principally the United Kingdom and the United States.
The placement attracted strong demand from investors including ongoing participation from Exto Partners, Airtasker’s largest shareholder, alongside iHeartMedia and a mix of existing and new institutional and sophisticated investors.
The 10 million dollars will fund targeted marketing investments in the US and UK and give Airtasker additional balance sheet flexibility to invest alongside media partners in its offshore subsidiaries or settle media partnership agreements.
Commenting on the raise and partnership, Airtasker chief executive Tim Fung said: “We’re thrilled today to announce this 10.0 million dollar capital raise, backed by iHeartMedia, Exto Partners and a great group of new and existing institutional and sophisticated investors who believe in Airtasker’s mission and the opportunity to replicate the profitable business we’ve built in Australia into even larger markets in the US and UK.”
“We’ve already seen incredible growth in both the US and UK markets which hit a combined 28.0 million dollars in GMV ARR in June 2025 and this additional investment will enable us to further accelerate from here,” he said.
Friends with benefits
Alongside the equity raise, Airtasker has expanded its strategic partnership with iHeartMedia in the United States.
Airtasker USA Inc will receive an additional 5.0 million US dollars in media and advertising resources from iHeartMedia to accelerate brand awareness and user growth across the market.
This builds on the initial 5.0 million US dollar partnership announced in August 2024, which helped Airtasker USA reach an annualised gross merchandise value run rate of 7.5 million Australian dollars in June 2025.
Through the partnership, Airtasker gains access to 860 broadcast and streaming stations across 160 US cities, reaching nine in ten Americans each month, with the largest podcast published (378 million monthly downloads) and major pop culture events (iHeartRadio Music Awards and iHeartRadio Music Festival).
David Ellis, Executive Vice President of ventures at iHeartMedia, said: “Airtasker’s strength in Australia shows how a fundamentally better marketplace can reshape consumer behaviour. As the company accelerates in the US, we see a clear opportunity to redefine expectations and win the category through innovation and a strong go to market plan.”
The expanded US partnership sits within Airtasker’s broader global media strategy, which includes alliances with TelevisaUnivision, Sinclair Broadcast Group and Mercurius Media Capital in the US, Channel 4 in the UK, and oOhmedia and ARN in Australia.
International growth surges
Airtasker’s latest moves are driven by strong operating momentum. In the first quarter of FY26, Airtasker marketplaces revenue grew 20.5 per cent year on year to 12.1 million dollars.
In Australia, the company’s core marketplace continues to generate cash, with first quarter revenue up 12.8 per cent to 10.6 million dollars.
Australian marketplace cash generation, after covering global head office costs, increased by 0.2 million dollars on the prior corresponding period to reach 2.5 million dollars of positive cash generation in the quarter.
Internationally, Airtasker’s playbook is delivering rapid gains. In the UK, first quarter revenue grew 83.3 per cent year on year, while US revenue increased 609 per cent over the same period, supported by strategic media alliances in both regions.
Having established a profitable and scalable model in Australia, Airtasker is now using its software platform and domestic cash generation to push into significantly larger international markets.
The company says it is leveraging a capital light marketplace model, combined with media partnership driven awareness, to drive efficient growth and network effects across multiple regions.