Australian Financial Review, May 23, 2016
National Australia Bank, Westpac Banking Corp and Qantas have taken stakes in Data Republic, a Sydney-based start-up that has designed a platform which allows companies and government to exchange data in a secure environment.
The deal indicates some of Australia’s largest companies are considering sharing data with each other to enhance service delivery but under strict controls to protect customer privacy.
NAB, Westpac and Qantas have invested a combined $10.5 million into Data Republic’s recent Series A equity fundraising round. The stakes were acquired through Qantas Loyalty, NAB’s venture capital fund, NAB Ventures, and Westpac’s venture capital fund, Reinventure Group.