AFR: Waddle closes $4m funding round and announces international expansion plans
Paul Smith and Liz Main from the Australian Financial Review reported yesterday (19th March) that Waddle will now step up its efforts to crack overseas markets following a $4 million series A funding round.
The funding, raised from tech venture capital firm Allectus Capital, will help grow the core Australian business, as well as further plans to expand overseas in partnership with international banks.
Waddle's co-founder Simon Creighton said "We are seeing strong demand from banks looking to digitise their working capital product offerings by partnering with fintechs with proven models."
The AFR also mentions the automation and time-saving benefits of the Waddle platform, as well as the growth over the past year. Simon said "Our product stands alone with unmatched user experience and automation. Continued investment in the platform will ensure we stay ahead."
The article goes on to talk about topics facing the financial services industry, such as self-regulation and the bank royal commission.
You can read the full article here: (Please note, the AFR is behind a paywall).