This is one of the largest fintech equity investments in Australia
Allens acted for Westpac, which has agreed to a strategic partnership with zipMoney, which was advised by ABL. In addition to providing a $40m investment, Westpac is also looking into the possibility deploying zipMoney’s products and services across its payments network.
The investment is one of the largest fintech equity investments in Australia, Allens and ABL said.
The Allens team is led by partner Vijay Cugati. It includes finance and securitisation partner Alan Maxton and Benjamin Downie, competition partner Carolyn Oddie, and AML partner Peter Haig. Corporate senior associates Addison Ma and Jasmin Last, financial services senior associates Andrew Shetliffe and Simun Soljo, AML senior associate Chris Kerrigan, technology senior associate Tom Griffin, IP senior associate Tracy Lu, employment managing associate Sikeli Ratu, competition senior associate Lisa Lucak, and lawyers Melanie Hayden, Ed Copeman, Jewel Zhu, Harry Cook, Max Chapman, and Malak Johnson also acted on the deal.
ABL's team is led by corporate and M&A partner Jeremy Leibler, assisted by senior associate Gavin Hammerschlag, foreign lawyer Alon Greenspan, and lawyer Vidushee Deora.
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