Mad Paws Holdings Limited (ASX:MPA) is looking for M&A. Justus Hammer, Co-founder said, "we've always said from an M&A perspective, we're quite interested in seeing how we can expand the offering that we have and how we can kind of broaden the ecosystem that we've already built. So we're certainly -- continuously being interested in the M&A space, but only for the right opportunities. There's certainly nothing lined up at the moment that we say is the right thing.

The market obviously is quite interesting at the moment from a valuations perspective so that there could be some opportunities out there in the short term where we feel we could do something. But again, we'll be very focused on making sure that any M&A opportunities that we look at would have to be an accretive business for us from an EBITDA perspective and something that really fits into what we're already offering. So nothing lined up.

Again, I think there is certainly consolidation out there. There's a couple of bigger players in this space that are quite interested in coming into the space and also building, I guess, a destination for pet owners".