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ANZ makes strategic investment in Aider, enhancing digital SME offering

By Edil Corneille

November 17, 2020

  • Anz
  • Australia
  • New Zealand
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ANZ, Australia, New Zealand, bank, banking, Australia and New Zealand Banking Group, financial services, MelbourneAustralia and New Zealand Banking Group (ANZ) announced a strategic investment in Auckland-based FinTech Aider to help small and medium enterprises gain instant, data-driven insights into their cash flow, staffing and accounting needs.

The investment through ANZi Ventures will support the FinTech’s growth and allow Aider to develop its two early-stage products: the Aider App, which provides instant insights into cash flow and integrates weather and news data, and the Advisory Intelligence Portal, which provides bookkeepers and accountants with key financial data.

ANZi Ventures Managing Director Ron Spector said: “Aider’s instant insights and accounting software integrations will save business owners valuable time, so they can focus on other important elements to help them grow.

“This investment aligns with our focus on building relationships with emerging growth companies that can support our customers. We look forward to continuing to develop our relationship with Aider and hope to offer their innovative solutions to our customers in the near future,” Spector said.

CEO and Founder of Aider, Brendan Roberts said the investment was a two-way relationship for his team. “In addition to helping Aider grow, ANZ’s support means we will be able to offer enhanced products and services to our business customers and accountants.

“Together, Aider and ANZ will innovate solutions that address SME cash flow problems and enhance the relationships businesses have with their advisors,” Roberts said.

ANZi Ventures is a part of ANZi’s innovation and investments team that make investments with a focus on the four key areas of homeownership, trade and capital flows, small and medium businesses, and open data.

ALSO, READ: NAB and Lighter Capital give Aussie startups more funding options

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