Wiise scores million dollar funding from KPMG Australia

Cloud enterprise resource planning (ERP) company Wiise said it has secured a $16 million commitment from KPMG Australia.

The money is aimed at expanding Wiise's global footprint, after 60 per cent growth over the past two years with revenue tripling and staff increasing to 40.

Wiise said the investment will see it launch operations in New Zealand, as its first international market.

The chief executive of Wiise, Charlie Wood, said the KPMG commitment was comparable to a Series B funding round, and that it would supercharge growth over the next three years.

“Since its launch by KPMG Australia in 2018, Wiise’s affordable enterprise-grade business software has found a niche in helping Australian small and medium-sized businesses move forward and make smarter decisions in real time," Wood said.

"The ever-increasing demand for intelligent cloud ERP solutions from Australian businesses."

"Particularly, inventory-based, distribution or manufacturing businesses – the need for smarter solutions is the pathway to predictability and that is fuelling our growth,” he said.

“This funding commitment from KPMG will enable us to continue to accelerate innovation in our product offering, build new technology, and expand into international markets."

"We are very proud of achieving these significant milestones and committed to delivering innovative digital transformation solutions to help our small and medium-sized business clients achieve their goals and maximise their market opportunities," Wood added.

"This continued investment in Wiise is the culmination of a multi-year commitment by KPMG to create a home-grown fintech with international potential," Sarah Vega, KPMG Futures national managing partner said.

"Small and medium-sized businesses worldwide are on an accelerated path of digitisation and need to make smarter and faster decisions."

"Wiise’s comprehensive ERP cloud solutions enable digital transformation and rapid scaling, supporting progress amidst economic uncertainties," she added.

In July, Wiise launched its new partner program, with six partners achieving Elite status.