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Home  >  Guides to grow your business  >  Customer stories

 

An educational toy captivating kids in over 50 countries

Launched from a garage in 2019, Connetix Tiles now boasts well over 500 retailers worldwide, with customers, suppliers and warehouses globally.
 
 

When founder and managing director of Connetix Tiles, Dave Alexander, and his business partner, Brea Brand, wanted to create a product that could be sold online, they looked at what their own children enjoyed most.

“My business partner and I had a conversation around creating a product and selling a product online. We essentially thought of what our kids play with most and basically came up with the magnetic tile that we’ve got now.”

The Australian company launched in 2019 with a small run of versatile magnetic tiles that can grow with a child, who develops from building two-dimensional shapes as a three-year-old, to creating entire three-dimensional structures when they’re older.

In just the first two years, Connectix Tiles experienced phenomenal growth, selling in 45 countries and with almost 500 retailers worldwide. They’ve now expanded globally to more than 50 countries and sell on global marketplaces. With customers, suppliers and warehouses overseas, it was important for Dave to find a solution to fast and easy international business money transfers with local account details.

“We prefer to have all our customers pay us in their currency and WorldFirst enables us to do that. WorldFirst enables us to pay suppliers and warehouses and people we do business with in their currency, which just saves us money.”

Open a World Account for free
  • Open 15+ local currency accounts and get paid like a local
  • Pay suppliers, partners and staff worldwide in 100+ currencies
  • Collect payments for free from 130+ marketplaces and payment gateways, including Amazon, Etsy, PayPal and Shopify
  • Take control of spending with the World Card, a business expense card that saves you more with 1% cashback. Learn more
  • Save with competitive exchange rates on currency conversions and transfers
  • Lock in exchange rates for up to 24 months for cash flow certainty

Disclaimer: These comments are the views and opinions of the author and should not be construed as advice. You should act using your own information and judgement. Whilst information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. Please consider FX derivatives are high risk, provide volatile returns and do not guarantee profits.

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Stream A

Death, taxes and expanding to the U.S.

This session will cover the basics of what your key tax obligations are and answer questions

such as:

  • What are the biggest mistakes businesses make when expanding to the US (from a tax perspective)?
  • How to avoid penalties: what happens if you don’t comply? How to stay ahead of changing regulations?
  • How to keep tax compliance from being a bottleneck?
  • What resources or tools can businesses use to manage tax compliance without an in-house expert?
  • At what stage should businesses invest in tax automation software?
  • How can automation help prevent tax errors?