DataMesh Group, an emerging player in global payment services, has secured $12m in a pre-Series A funding round, including new investor .
Additionally, there has been continued investment from some of Australia’s largest merchants and retailers, who seek to utilise DataMesh’s services, including an existing cornerstone investment by the Chairman of the Peregrine Group, which utilises the DataMesh solution in their hundreds of fuel sites and retail outlets.
DataMesh’s revolutionary financial processing platform, enables banks, acquirers and card schemes (e.g. Visa, Mastercard, American Express) to quickly respond to changing demands coming from merchants at the point of sale and online.
DataMesh’s solutions can support most smart terminals including unattended, roaming devices and mobile phone based technologies, together with the company’s cloud POS integration tools. This enables merchants and acquirers to accept a wide range of payment methods, including QR codes, loyalty cards, prepaid transport cards, debit and credit cards and other methods.
DataMesh provides real time 360-degree view of customers across instore and online channels and provides merchants with a more granular view of their customers spending patterns with enhanced data analysis capabilities.
Yasser Shahin, Chairman of Peregrine Group said, “DataMesh’s modern cloud-based architecture enables it to be very nimble and respond to our ever-changing requirements. We are seeing this across our fuel, retail and QSR (quick service food) operations as well.
“We are extremely delighted to work with DataMesh and see them as key strategic partner helping us service our customers better and ultimately help fuel our growth,” he said.
For traditional banks and merchant acquirers, DataMesh’s technology offers bespoke omnichannel solutions to their merchant customers at scale, resulting in improved user experience, increased sales and cost efficiencies. When used in in collaboration with existing merchant acquirers, DataMesh provides the link between technology and banking products. It enables merchants to reduce cost and risk and increase revenue, while enabling banks to retain their client relationship as the merchant acquirer.
NAB Ventures Managing Director, Amanda Angelini said, “As Australia’s leading business bank, we understand the need to give merchants flexibility in how they receive payments from customers.
“We see how DataMesh’s technology can give merchants greater opportunities and capability, making them a great fit for NAB Ventures’ portfolio.
“The feedback from our customers using DataMesh technology so far has been very positive and we’re looking forward to continuing working with the team and introducing their current and new solutions to more of our customers,” Ms Angelini said.
DataMesh sits uniquely in the global market as an enterprise solution company that benefits merchants, banks, merchant acquirers and global payment schemes by enabling enhanced merchant experiences without disrupting the bank-to-merchant relationship. This unique market proposition has fuelled DataMesh’s rapid growth and this pre-series A funding will allow DataMesh to scale its operations domestically as well as expand overseas.
DataMesh is working closely with major global banks, acquirers and advisors to execute its international strategy based on success in Australia.
Mark Nagy, CEO of DataMesh said, “We’re pleased with the results of this latest funding round and are looking forward to continuing to scale up our business both locally and globally. The fintech revolution has created a seismic shift in the way the financial world operates, so building a solution that provides stability for banks and merchants while continuing to offer choice to customers is extremely rewarding.”
