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September 7, 2021

Azupay secures equity investment from Ellerston Capital to accelerate growth

By Shalini mani

Australian payments firm Azupay has secured an equity investment of A$10m from investment manager Ellerston Capital via Ellerston JAADE Australian Private Assets Growth Fund.

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The investment was facilitated by corporate advisory group TMT Partners.

Founded in 2019, Azupay offers a range of digital payment services and solutions to consumers, businesses, and government agencies.

The firm will use the fresh capital to accelerate growth and to drive further product innovation. It is set to launch its real-time pull payments solution PayTo in mid-2022.

It also plans to rapidly expand its customer base and expand its existing alliance with state and regional governments.

Commenting on the investment, Azupay CEO John Murphy said: “Ellerston’s backing of Azupay is further demonstration of investor support as we continue to transform the real-time payments landscape in Australia, helping businesses accelerate cash flow and reduce their payment processing costs.

“Now is a pivotal time for many Australian businesses and real-time payment solutions can play a powerful role in their health and success.”

Ellerston’s Justin Diddams commented: “Azupay benefits from being a key pillar in the supply chain delivering real-time payments to businesses and consumers. We are pleased to support Azupay’s accelerated growth ambitions in Australia and globally.”

Ellerston’s investment in Azupay follows an investment from Australian private investment group Tattarang last year.

Tattarang acquired a majority stake in the firm as part of the deal.

Last month, Azupay unveiled a real-time payment option called PayID powered by Azupay, on Australia’s New Payments Platform, which will integrate with the online accounting platform Xero.

Last December the firm partnered with digital payment solutions provider AsiaPay to facilitate real-time payments in Australia.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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