An expansion fund of $16 million has been granted to Northern Beaches-based financial and government services digital customer acquisition platform provider, Avoka.
Local investors on both the professional and institutional sides have supported the capital raising, which will allow the company to develop its products, and secure its expansion process overseas.
Chief executive, Phil Copeland, said that investments received have made the difference and show strong domestic support for expansion prospects.
“We will use the latest funds to accelerate our already strong organic growth prospects, expand our product capabilities with important technology partners, and explore new markets,” Copeland said.
“The enthusiasm shown by the Australian investment community in our expansion funding round is tremendously encouraging.”
As part of its new development program, Avoka will focus on meeting demand for product implementation and delivery, as well as integration crucial services including fraud and identity management and funds transfer.
In addition, Avoka will invest in marketing and sales in their London and Denver-based teams and develop collaborative efforts with consultancy and system integration firms and core technology providers.
Avoka will aim to implement service functions to expand to Western Europe, Latin America, and the Asian region in the future.
