G+T advises payment software company on latest funding round

Deutsche Bank participated in the round and said it will deploy the payment technology in its banks

G+T advises payment software company on latest funding round

Gilbert + Tobin (G+T) has advised payment software company DataMesh Group on its $30m Series A funding round.

DataMesh is a full-suite developer of interoperable, proprietary payments-processing technology for banks and retailers. The company said its technology had seen significant interest and deployment from leading local and global banks, including funding round participants.

The company claimed that its "ground-breaking" technology helps banks and processors deliver a seamless technology experience to customers. Deutsche Bank has announced that it will deploy DataMesh's online payment acceptance technology in India, South Korea, Thailand, Indonesia and Vietnam.

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DataMesh is headquartered in Marrangaroo, NSW. The company has raised $42m to date. Investor NAB Ventures led the recent funding round, with participation from Deutsche Bank, ANZ's innovations and venture capital partner 1835i, Wunala Capital, Fifth Estate and Peregrine Corporation.

G+T ventures practice head Xavier Keary advised DataMesh on all aspects of the raise, assisted by lawyer Mary Valtas.

"DataMesh's proprietary Unify payment processing platform has serious potential to make a large impact on payments processing globally. The participation by Deutsche Bank, NAB Ventures and 1835i in the round is a ringing endorsement for their business model and vision for the future," Keary commented.

DataMesh co-founder and executive director James Garton said, "Working with Xavier and the team at G+T Ventures to facilitate our capital-raising process was an exceptional experience. We are delighted with the results and are now ready to bring our Australian technology to the world."

G+T's venture practice team recently assisted Canberra-based Quantum Brilliance in its $26m pre-series A funding round. Quantum Brilliance uses synthetic diamonds to develop quantum computers that operate at room temperature. The funds raised will be used to expand the company's research capacity and ramp up the development of critical materials.

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