InPayTech completes successful capital raise

InPayTech completes successful capital raise

Integrated Payment Technologies Limited (InPayTech) has successfully completed a share placement worth $3 million to help fast track existing operations and to focus on the Company’s strategic growth targets. The placement was conducted amongst professional and sophisticated investors, with new shares being issued on March 5, 2021.

The placement capital will assist the pursuit of strategic goals of the merged firm Comply Path and to accelerate the delivery of a transformative platform for employer compliance and employee engagement with financial services like superannuation.

InPayTech CEO, Dean Martin said, “Australia’s financial sector is one of the most highly regulated markets globally, and compliance costs account for $400-500M per annum. Our merged entity delivers integrated payment and compliance technology to create efficiencies within compliance and frictionless engagement with working Australians.

“Otherwise known as ‘regtech’ we believe our ‘compliancetech’ offer brings a suite of new opportunities across a range of stakeholders managing numerous compliance gateways on behalf of employees, their employers and financial service product and advise providers,” Mr Martin said.

“Our technology innovatively facilitates regular and ongoing engagement via periodic payments such as salary and wages disbursements or super contributions payments.

“Together we seek to unlock the value of a more secure, efficient and compliant end-to-end payments and engagement platform to help keep Australia’s payroll and superannuation systems safe, compliant and engaged with the lives of the fund members and workers they serve,” he said.