Tech Company Financing Transactions
Akahu Funding Round
Akahu closed a $1.4 million funding round on 10/17/2023. Investors included K1W1 and RedBird Ventures.
Transaction Overview
Company Name
Announced On
10/17/2023
Transaction Type
Venture Equity
Amount
$1,400,000
Round
Undisclosed
Investors
RedBird Ventures (Mark Colley)
Proceeds Purpose
This financial endorsement, Westpac expects to derive valuable insights, further equipping them to design and implement open banking solutions efficiently.
Company Information
Company Status
Private & Independent
Industry
FinTech
Mailing Address
Undisclosed
Auckland, Undisclosed
NZ
Auckland, Undisclosed
NZ
Phone
Website
Email Address
Overview
Akahu maintains deeply functional data integrations with NZ banks and other financial institutions. We bundle those integrations into a simple API for developers. Akahu supports the development of Consumer Data Rights in New Zealand, and we intend to evolve our integrations into that purpose-built regulatory regime when it rolls out and matures. Akahu's journey began when Ben Lynch was working in the bank feeds team at Xero in 2013. He grew frustrated with the unreliable intermediary data integrations that were used to fetch transaction data into Xero, and decided to build integrations for his personal bank accounts. That side project turned into a full time project called Jude, where the data integrations were used to power features like account aggregation, round-up, and sweeping. Then In December 2020, the data integrations were transferred into a new company called Akahu, and became available as an API product to external developers. We announced an investment from the venture arm
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Ben Lynch
Chief Operating Officer
Josh Daniell
Co-Founder
Oliver Fawcett
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