ANZ's venture arm 1835i makes first post-fintech winter investment
After focusing on existing investments over the last two years, ANZ's 1835i has made the first of what will be a number of transactions.
ANZ’s venture arm 1835i has struck its first significant deal since the fintech funding winter with CitoPlus, a digital platform for brokers servicing small to medium enterprise clients.
Details of the investment are yet to be made public but sources told Capital Brief they will be released next week and the deal will include an investment as well as a broader partnership involving funding and commercial relationships.
1835i CEO Justin Greenstein told Capital Brief it had been working closely with CitoPlus for around 18 months after the fintech won an award sponsored by ANZ.
"The founders, who have long experience in banking, have built really good technology to reduce the friction between the broker and bank," he said. "They've collaborated very closely with the commercial team in the bank for this solution."
