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KUALA LUMPUR, Feb 22 (Bernama) -- DataMesh Group, a full-suite developer of interoperable, proprietary payments-processing, has secured A$30 million in an oversubscribed Series A funding round to execute on large-scale domestic opportunities as well as expanding its footprint in the high growth payments processing industry. (A$1 = RM3.02)
“This investment is an overwhelming endorsement of the strength of our business model and unique payments solution.
“We have raised this capital despite global economic headwinds which is testament to the quality, confidence and strength of our business proposition,” said DataMesh Chief Executive Officer, Mark Nagy in a statement.
The round was led by return investor NAB Ventures and featured significant first time capital from Deutsche Bank's corporate headquarters in Frankfurt along with 1835i Ventures, ANZ's external innovation and venture capital (VC) arm.
Other investors included institutional VC funds, Family Offices and significant High Net Worth (HNW) individuals as well as a range of major existing investors, with the transaction managed by Allunga Advisory.
The funds will be used to execute on multiple payment infrastructure deals which will see DataMesh deploy its world leading solutions internationally via Deutsche Bank and in Australia with NAB, which is already piloting the technology with a select group of merchant customers.
The group is revolutionising the payments sector through its Unify system which has been specifically designed to meet the evolving needs of banks, processors, payment networks and merchants.
Since its inception in 2018, DataMesh has matured into an established payment solutions provider, doubling its headcount over the last six months and expanding its portfolio of acquiring banks and merchants.
More details at https://www.datameshgroup.com/
-- BERNAMA
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