Corporate / CVC · 3 deals
Australian bank
Sydney, NSW
Every published round Westpac took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
| Company | Stage | Announced | Amount | Role | Alongside | Sources |
|---|---|---|---|---|---|---|
| LawPath | Unnamed stage | 5 Feb 2025 | $10m | Participant | Startup Daily (2 Jun 2025), Startup Daily (5 Feb 2025), SmartCompany | |
| Rich Data Co | Series B | 1 Dec 2023 | $28m | Lead | SmartCompany (9 Aug 2024), Australian FinTech (6 Aug 2024), Australian FinTech (29 May 2024), Australian FinTech (14 Feb 2024), Australian FinTech (24 Jan 2024), SmartCompany (1 Dec 2023), Forbes Australia, Australian FinTech (30 Nov 2023) | |
| Grown Not Flown | Grant | 2023 | $20k | Participant | Tenacious Ventures, Startup Daily |
Everyone Westpac has named to a program in published coverage. A place in a program is not a raise: the cheque is the figure recorded with the place, which is the program's standard terms where we hold them, and a blank is one we don't.
Companies Westpac has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Grown Not Flown | 2023, Grant | 1 | 0 | |
| LawPath | Customizable legal documents and marketplace of legal professionals | 5 Feb 2025 | 1 | 0 |
| Rich Data Co | 1 Dec 2023, Series B | 1 | 1 |
This is a stake in the fund itself, money that the fund's manager invests, not a stake in the fund manager.
| Fund | Manager | Sources |
|---|---|---|
| Fund II | Virescent Ventures | Virescent Ventures, RenewEconomy, Startup Daily, @AuManufacturing |
Companies Westpac has backed that another company then bought. An exit for the holding, not a deal Westpac did.
Stories naming Westpac. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Sydney fintech OpenDebt, which applies AI agents to debt recovery, has secured $2 million in pre-seed backing from Blackbird and Antler to grow its team and explore US partnerships.
Also Australian FinTech·Business News Australia·This Week in Australian Startups·Dynamic Business
Roundup of seven raises across the Tasman spanning fintech, marine tech, agtech, defence and AI, plus a first close for an ACT venture fund.
Australian banking-tech firm Constantinople has closed a large Series B co-led by returning backers, per Dealroom; the piece recalls its earlier seed and Series A and highlights a client bank's full platform migration.
Also Dealroom
Square Peg and Airtree Ventures led Constantinople's newly completed $62.5 million round, per Street Talk; backers expect another raise within a year, which would value the banking software firm near $1 billion.
Street Talk roundup: Tasman Capital's new fund reaches first close, EQT buys control of an NRL club, KKR eyes a Drifter exit, PAG dealmakers jump to Jardine Matheson, Colter Bay lands a debut loan.
Hello Clever has brought in Mark Tibbles, a payments industry veteran with a career across major banks and payment firms, to advise the company as it grows.
Australian SME lender BiiGGA hires Lee Slattery as chief commercial officer to own commercial strategy, distribution and growth after its strongest quarter on record.
Australian FinTech introduces Canvas as a new member. Canvas builds infrastructure for tokenised securities, stablecoins and CBDCs, and took part in the Reserve Bank of Australia's eAUD pilot.
HSBC is selling its Australian home and personal loan book to Blackstone and shutting local retail banking, with Pepper Money appointed servicer; no purchase price disclosed.
Also AFR Technology
AUDC, issuer of the AUDD stablecoin, has hired Andrew Kitchen as CFO and José Barroso as growth general manager, deepening its executive bench amid rising demand and its recent New Zealand token launch.
Stablecoin issuer AUDC hires Andrew Kitchen as CFO and José Barroso as growth chief, extending an executive build-out to support rising demand for its digital-money and settlement services across Australia and New Zealand.
UNSW Founders will run the NSW Government's new $4 million Diversity Pre-Accelerator Program for female and culturally diverse health founders, with the University of Newcastle also delivering support; applications open in July.
Bot defence firm Kasada has secured $30 million from EQT plus earlier backers Turnbull & Partners, Reinventure, Main Sequence, OIF, StepStone and Ten Eleven, with founder Sam Crowther back in Sydney.
Scalare Partners has launched The Founders Union, an AI-driven hub connecting founders to education, community, services and investment providers; Westpac, MYOB, Atlassian and Zoho are among its partners.
Pepper Money says a consortium it belongs to is in early negotiations with Westpac over its mortgage broking book, as the bank faces a franchisee class action and a penalty over RAMS lending misconduct.
RecordPoint has bought Redactive AI, a Melbourne data security startup founded by former Atlassian staff, for an undisclosed sum two years after its founding; Felicis and Blackbird co-led its 2024 seed round.
ANZ is winding up its venture arm 1835i and has shut Cashrewards after selling its Airwallex stake; the piece also recalls Airwallex's later raises and CBA's Klarna investment, stake sale and New York listing.
ANZ is winding up 1835i, its externally managed venture arm, weeks after selling its Airwallex stake; the piece recalls Cashrewards' takeover and closure, Airwallex raises, and CBA's Klarna windfall.
Australian data governance company RecordPoint has launched RexCommand, a free platform helping startups detect unauthorised AI tool use and enforce AI policies, with CEO Anthony Woodward warning about shadow AI risks for businesses.
Sydney game studio Qloud closed a $7.5 million seed round for its solarpunk game Loftia, led by GFR Fund and Bitkraft Ventures with Andreessen Horowitz returning; the founders earlier crowdfunded and joined a16z's Speedrun.
Frollo, a NextGen subsidiary, launched a portal giving mortgage brokers Open Banking access to verified client financial data, already integrated with aggregators and major banks.
Insurtech Upcover and legal platform Lawpath are launching a bundled insurance and legal documents offering for small firms; the piece recalls Upcover's $11m Series A and Lawpath's $10m backing from Westpac.
Credit-decisioning firm Rich Data Co has rebranded as RDC.AI. The Australian company highlights North American expansion, bank partnerships, and its Westpac- and nCino-backed $34m Series B among recent milestones.
Crypto exchange OKX Australia has appointed Kate Cooper, previously of Zodia Custody, NAB and Westpac, as its chief executive, with responsibility for operations, product and sales.
Scalare Partners' first results since its ASX debut show an EBITDA loss with revenue up 115%; its November listing raised $4.3 million and its 27 startups are worth $10.7 million.
Insurance broking platform UpCover secured a $19 million Series A — $11 million equity led by RealVC plus $8 million debt from Marshall Investments — with Antler Elevate, Betterlabs, Gandel Invest and individual investors taking part.
Westpac has invested $10 million in legal tech platform Lawpath, deepening an existing partnership; the article also recounts Lawpath's earlier raises from LegalZoom, Adcock Private Equity and other backers between 2015 and 2021.
Profile of Annie Liao, 23, founder of Build Club, who has closed a $1.8 million round to build an AI learning platform, tracing her path from Westpac, BCG and Aura Ventures into startups.
Also Capital Brief·SmartCompany·Forbes Australia·SmartCompany·SmartCompany·SmartCompany·SmartCompany·Startup Daily·Startup Daily
Virescent Ventures says QIC has joined Westpac and the CEFC backing its second climate tech fund, with new commitments lifting the initial close to roughly $125 million toward a $200 million goal.
Elemnta publishes research on data fragmentation in Australian wealth management and appoints former Westpac technology chief Dave Curran as non-executive chairman of its board.
A news roundup covering a government-backed hydrogen project for Telstra, a climate tech fund's first close, new appointments at a South Australian agency and a feed company, plus export approvals and science prizes.
Also @AuManufacturing
Interview with Constantinople co-founder Di Challenor on her banking career and the record $32 million seed round she and Mac Duncan raised from Square Peg, Airtree and Great Southern Bank.
Roundup covering seven Australian companies' recent raises — Splend, Rich Data Co, Slice, InvestorHub, Eyeonic, Graceview and Monty Compost Co — from fleet electrification finance to AI compliance and compost-monitoring seed rounds.
AI decisioning firm Rich Data Co has landed $9 million from Acorn Capital, lifting its Series B to $37 million, as it pushes into North America after signing its first US bank customer.
Also SmartCompany
Akaysha Energy has $650 million from 11 banks and an EnergyAustralia offtake to build its Orana battery in NSW, which it calls the world's largest single-battery investment; BlackRock bought the company in 2022.
Karta, an Australian gift-card platform, has struck a US deal with Visa, having earlier raised a pre-seed round above $21 million, most of it from Commonwealth Bank.
Lendi Group has overhauled its leadership, hiring Leo Bautista as CFO plus several general managers, while long-serving finance chief Jason King departs in May; 59 new roles are planned.
Roundup of five raises across Australia and New Zealand: Constantinople's $50m Series A, Illuvium's US$12m, Forever Network's $6m, Starboard's NZ$5m seed and Medibis's $736,000 crowdfunding.
Startup Daily's The Ask column pitches Maslow, a Melbourne fintech whose founders are seeking crowdfunding on Birchal to build a subscription platform selling financial services without profit margins.
Anna.Money, a UK business banking and tax app, has bought Sydney spend-management startup Cape, its first acquisition, with Cape's founder Ryan Edwards-Pritchard to head its Australian operations.