ANZ Group announced a strategic investment in NZ-based fintech Aider to help small and medium enterprises gain instant, data-driven insights into their cash flow, staffing and accounting needs.
The ANZ announcement comes within weeks of NAB’s announcement to partner with Pollinate. Aiming to deliver insights and savings to small businesses, NAB announced a pilot by March 2021 ahead of rolling out the technology across its customer network.
ANZ noted the investment through its ANZi Ventures will support 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.
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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.”
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,” Mr Roberts said.
ANZi Ventures is a part of ANZi’s innovation and investments team that make investments with a focus on four key areas: homeownership, trade and capital flows, small and medium businesses, and open data.
