Fintech software company DataMesh has secured $30 million in Series A funding led by returning backer NAB Ventures and featuring new investors ANZ’s venture capital arm 1835i Ventures, Wunala Capital, Fifth Estate, Deutsche Bank and Peregrine Corporation.
NAB Ventures originally supported DataMesh in 2021 with $12 million in a pre-Series A capital raise .
The bank itself has partnered with DataMesh to deploy its software in point-of-sale terminals for NAB business customers.
NAB is already piloting DataMesh’s technology with a select group of merchant customers.
“NAB is always on the lookout for technology solutions which will help make our customers’ lives easier, Andrew Irvine, NAB Group executive for business and private banking, said.
"DataMesh’s Australian owned and managed technology - which fuses highly secure instore and eCommerce payment systems with on-shore customer data analytics - is one such game changer,” Irvine said.
Meanwhile, the fresh capital raise will support DataMesh’s expansion in Asian markets with Deutsche Bank aligning to assist.
“Our solution is the answer to a market that has been under-served for a long time," DataMesh Group chief executive Mark Nagy said.
"Our commercial partnerships show that our model for back-end payments, with the ability to drive payments without disrupting the merchant acquiring relationship, is the future of global payments,” Nagy added.
“This investment is an overwhelming endorsement of the strength of our business model and unique payments solution."
We’ve raised this capital despite global economic headwinds which is testament to the quality, confidence, and strength of our business proposition,” he said.
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