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Today: July 22, 2024
July 1, 2024
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Bailador secures majority funding in $22M fintech raise for Dash

TLDR: Bailador Technology Investments has led a $22 million funding round for fintech Dash Technology, with plans to invest an initial $15 million followed by $5 million in six months. Dash provides cloud-based financial advice and investment management software for advisers and institutions. The funding will support sales, marketing, and product development efforts as Dash aims to expand its platform and increase accessibility to financial advice for Australians.

Sydney-based Dash Technology Group has secured $22 million in funding, with Bailador Technology Investments leading the round by investing an initial $15 million and committing to an additional $5 million in six months.

Dash Technology offers a cloud-based financial advice and investment management software platform designed to provide affordable and personalized advice to clients.

The fintech company, formed two years ago through the merger of Wealth02 and Roar Software, has experienced significant growth, with revenue increasing by 63% in the six months leading up to December 2023.

Chairman Geoff Lloyd, former chair of the Financial Services Council, expressed excitement about the partnership with Bailador and the potential to expand sales, marketing efforts, and product development roadmap.

With over $4 billion administered on its investment platform, Dash is working with financial institutions and industry super funds to automate digital financial advice for their customers, aligning with government regulatory changes.

Bailador cofounder David Kirk highlighted the need for technology to bridge the gap in financial advice accessibility, as only 10% of Australian retail consumers currently receive financial advice. Kirk and Bailador partner James Johnstone will join the Dash board as part of the investment deal.

Through this funding round, Dash aims to leverage technology to address the declining number of financial advisors and increase access to financial advice for Australians, positioning itself as a key player in the evolving financial advisory landscape.

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