DataMesh Group raises $30 million in Series A oversubscribed funding round
In an oversubscribed Series A funding round, DataMesh Group, a full-suite provider of interoperable, proprietary payments-processing, secured $30 million to take advantage of significant local prospects and to further establish itself in the fast-growing payments processing sector.
In addition to 1835i Ventures, ANZ's external innovation and venture capital arm, the investment also included a sizeable amount of first-time funding from Deutsche Bank's corporate headquarters in Frankfurt. NAB Ventures served as the round's lead investor. Together with a number of big existing investors, other investors included institutional VC firms, Family Offices, prominent High Net Worth (HNW) people, and others. Allunga Advisors handled the deal.
With its Unify system, which was especially created to satisfy the changing needs of banks, processors, payment networks, and merchants, DMG is revolutionising the payments industry. The "all in one" solution offers settlement and terminal functionality that can be tailored to the existing systems of acquirers and merchants, as well as modular, card present and EComm capacity. In an ever-changing consumer-led retail environment, banks are able to quickly respond to a merchant's technical needs thanks to the low cost, high performance SaaS platform.
The money will be used to carry out a number of deals for payment infrastructure, allowing DataMesh to deploy its industry-leading solutions globally through Deutsche Bank and in Australia with NAB, where it is already being tested with a small number of merchant customers. DMG processes billions of dollars annually and is anticipated to experience significant domestic and global growth in 2023. Also, in 2023, Deutsche Bank will introduce DMG to its merchants to facilitate the acceptance of online payments in India and five other Asian nations (Australia, Korea, Thailand, Indonesia and Vietnam).
In addition to 1835i Ventures, ANZ's external innovation and venture capital arm, the investment also included a sizeable amount of first-time funding from Deutsche Bank's corporate headquarters in Frankfurt. NAB Ventures served as the round's lead investor. Together with a number of big existing investors, other investors included institutional VC firms, Family Offices, prominent High Net Worth (HNW) people, and others. Allunga Advisors handled the deal.
With its Unify system, which was especially created to satisfy the changing needs of banks, processors, payment networks, and merchants, DMG is revolutionising the payments industry. The "all in one" solution offers settlement and terminal functionality that can be tailored to the existing systems of acquirers and merchants, as well as modular, card present and EComm capacity. In an ever-changing consumer-led retail environment, banks are able to quickly respond to a merchant's technical needs thanks to the low cost, high performance SaaS platform.
The money will be used to carry out a number of deals for payment infrastructure, allowing DataMesh to deploy its industry-leading solutions globally through Deutsche Bank and in Australia with NAB, where it is already being tested with a small number of merchant customers. DMG processes billions of dollars annually and is anticipated to experience significant domestic and global growth in 2023. Also, in 2023, Deutsche Bank will introduce DMG to its merchants to facilitate the acceptance of online payments in India and five other Asian nations (Australia, Korea, Thailand, Indonesia and Vietnam).
