Australia-based Biza.io, which offers Consumer Data Right (CDR) solutions, has reportedly raised $7.5m in its Series A funding round.
OIF Ventures and Jelix Ventures led the round, which is the first external capital raised by biza.io, according to a report from Digital Nation.
Founded in 2017, Biza.io provides companies with the tools to meet compliance with CDR. It boasts full CDR API implementation, product reference data, consent management, consumer consent dashboards, enterprise integration, and service metrics and admin APIs.
Its conformance testing service covers over 200 ACCC tests, FAPI conformance suite validation with CDR profile and collects test evidence to meet ACC requirements.
Alongside the close of the investment, Biza.io has established a board of directors.
Speaking on the investment, Biza.io founder and CEO Stuart Low told Digital Nation, “Welcoming OIF Ventures and Jelix Ventures as our first investors puts us in a fantastic position to capitalise on the current market opportunities.
“Both funds’ reputations for backing high conviction founders and companies coupled with their unparalleled experience in nurturing founders and early-stage start-ups are going to be invaluable to our growth and we’re excited to begin the next phase of Biza.io alongside the OIF and Jelix teams.”
Last year, Jelix Ventures led the $1.6m funding round of New Zealand-based SafeStack Academy. The company provides cybersecurity education to help organisations improve their internal online security knowledge.
As for FinTech investment in Australia, the first quarter of 2022 took a sizable hit, according to data from FinTech Global. In the opening three months, $600m was raised through 50 deals. In comparison, this is 37% less than the same period in 2021.
The largest FinTech investment in Q1 2022 was raised by HR and payroll management solution Employment Hero. The FinTech company raised $130m, with commitments coming from Seek Investments, OneVentures and AirTree Ventures.
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