Adviser on a $7m NZD Series A investment for APLYiD led by Octopus Ventures.

Deal Overview

Wilson Partners Corporate Finance was delighted to support Octopus Ventures with financial due diligence as it led a $7m NZD Series A investment to fuel APLYiD’s ambition to help more businesses around the world stay compliant, while providing a seamless customer onboarding experience. The funding coincides with the official opening of APLYiD’s UK office in October, the startup’s first foray outside of Australia and New Zealand.

Edward Keelan, investor at Octopus Ventures, said: “In the last two years we have seen a rapid acceleration in the need for digital onboarding solutions, as more of our lives move online. At the same time, regulators are demanding more robust systems to ensure AML and KYC compliance, while customers expect a quick and easy experience. That’s where we see a huge opportunity for APLYiD, which has built an end-to-end digital identity verification process that meets stringent regulation, but also provides a super smooth user journey with instant results. Russell and Claudia make a formidable team with huge depth of experience in the field and we are excited to support them in their next stage of growth.

“This is also our first investment in a New Zealand headquartered business, which I think reflects the growing number of exciting technology companies the country is now starting to produce, with a similar story in Australia. We’re looking closely at opportunities in both markets, especially given the expertise we can offer companies looking to establish a presence in the UK and expand into Europe and North America.”

About the Parties

Over the course of the pandemic, APLYiD has seen first-hand how organisations around the world have been swept up in the fast moving currents of KYC compliance, the threat of fraud, and increased customer expectations. With soaring demand for online services during Australia and New Zealand’s recent lockdown conditions, both nations have also seen an uptick in digital fraud. For many organisations, APLYiD has become an important shield against the barrage of increasingly sophisticated fraudsters.

The Series A injection has allowed APLYiD to go on a hiring spree for some key personnel throughout New Zealand and the UK. This includes former Credit Safe Sales Director, Marc Williams, who will lead the London team of eight as it supports expansion throughout the UK market, and James Brown, previously GM of Fintech NZ, who has taken on a role as the Director of Global Partnerships.

With £1.7 billion under management and investing over £200 million a year, Octopus Ventures is one of the largest and most active venture investors in Europe, typically investing from £1 million for Seed to £10 million for Series B with the ability to fund the companies backed right through to IPO.