NAB Ventures makes first investment
National Australia Bank’s (NAB) $50 million innovation fund, NAB Ventures, has today announced it is making its first investment in Sydney-based technology start-up Data Republic Pty Ltd.
NAB Ventures is one of three large corporate investors who have contributed a total $10.5 million in this Data Republic Series A funding round. NAB Ventures Managing Director Todd Forest said the deal was an exciting first step for the fund.
“Data Republic is doing some really innovative work to improve the personalisation experience for customers,” Mr Forest said.
“This strategic equity partnership gives us a seat at the table to help develop Data Republic’s capabilities and ultimately improve the experience for NAB customers in the future.
“We know that banking is undergoing significant transformation in the digital space and the simple aim of NAB Ventures is to help ensure we can embrace the right changes to deliver new customer solutions.”
Founded by Paul McCarney and Danny Gilligan, Data Republic is a platform for data exchange between platform partners and contributors with the aim of enhancing the personalised customer experience for those companies using the platform. NAB Ventures is an investor in Data Republic Pty Ltd.
For more information on Data Republic Pty Ltd please see www.datarepublic.com.au.