However, business opportunities started to reduce for the company from September 2025 as competition, under-investment and a lack of sales opportunities compounded.
As a result, the business was sold in November 2025, whereby the full platform was acquired with some employees.
All employee entitlements and trade creditors were paid in full before the company subsequently ceased trading.
After selling the business, the company’s shareholders sought professional advice regarding SS Holdings’ financial position and elected to appoint Iain Shepard and Jessica Kellow of BDO Wellington as joint liquidators.
Money owed
Shepard and Kellow have identified $10,777 in assets for SS Holdings in the liquidation to date, including $6436 in the company’s bank account and $4341 in the form of GST to be refunded by the Inland Revenue Department.
A further $28,865 is reported under the book value of the company for office equipment and website development; however, these assets are now owned by the company’s new owners and are therefore unrecoverable.
SS Holdings currently has no secured or preferential creditors that are owed money, the liquidator’s report said.
The majority of debt is owed to founder Timothy Boyne, with a current shareholder account of $2,125,533.
A further $941,906 is owed to safe note investors from its initial capital raise, with creditors listed including Icehouse Ventures and Archangel Ventures.
Icehouse Ventures chief executive Robbie Paul confirmed the firm had invested $200,000 in SmartSpace’s pre-seed convertible note round in 2024.
The investment was made out of Icehouse’s Seed Fund 3, a $45m fund that invested in 30 companies.
Paul said the investment was on the back of the firm’s long-term relationship with Boyne via its investment in Boyne’s other startup, LawVu.
Archangel Ventures has been approached for comment.
Other listed creditors include marketing agency Likeable Lab, Craig Wearne and Davey Goode.
In total, SS Holdings owes creditors an estimated $3,067,439.
Shepard and Kellow said it was too early to estimate a date of completion and dispensed with a meeting of creditors.
Boyne has been approached by the Herald for comment.
Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.
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