Aussie paytech DataMesh lands $30m Series A led by NAB Ventures
Australian payments software firm DataMesh has secured a $30 million Series A funding round led by NAB Ventures, the investment arm of National Australia Bank (NAB).
NAB will also partner with DataMesh
Along with the funding, NAB has also partnered up with DataMesh as it looks to improve its point-of-sale (POS) user experience for NAB business customers.
DataMesh provides a single platform for in-store, online and in-app payments, offering full payment orchestration and interoperability. Its tech allows merchants to access data analytics that provide a “360-degree view” of their customers and use the insights to provide personalised payment experiences.
DataMesh group CEO Mark Nagy says the firm’s back-end tech can enhance payments without disrupting the merchant acquiring relationship, giving banks access to a customisable platform that doesn’t require extensive investment and merchants the ability to keep up with customer expectations.
NAB group executive for business and private banking, Andrew Irvine, says the partnership with DataMesh will allow it to integrate the paytech’s “unique capabilities as the bank reimagines the merchant customer experience”.
Irvine adds DataMesh’s technology is a “game changer” and the firm is already piloting the tech with a group of its merchant customers.
Additional investors in the Series A round were Deutsche Bank and 1835i Ventures.
This latest raise follows a $12 million pre-Series A round featuring NAB Ventures in 2021.
