NAB private banking in alliance with Israel’s OurCrowd

NAB private banking in alliance with Israel’s OurCrowd

Clients of National Australia Bank’s private bank will get special access to venture capital raisings by global technology companies, with NAB and the Israeli equity crowdfunding platform OurCrowd announcing a collaboration deal on Sunday.

NAB joins United Overseas Bank of Singapore and Shanghai Commercial and Savings Bank of Taiwan in assisting OurCrowd to distribute deals while also getting access to start-ups funded through the platform, one of the world’s largest crowdfunding groups that has raised over $600 million for more than 120 early-stage companies.

The deal was announced during an Australia-Israel Chamber of Commerce’s women leaders delegation in Israel, that was attended by NAB Private executive general manager Christine Yates.

“We have been asking how do Australian clients participate in global alternative asset classes for innovative start-ups. This deal is about democratisation of access to global deals and will create a space for clients to participate and learn globally, which should stimulate more investment locally,” she said.

NAB’s association with OurCrowd has already born fruit in terms of linking the bank to investments. The Canada-based cloud accounting software firm Wave, in which NAB led a $US24 million ($32 million) capital raising that was announced last week, was introduced to NAB by OurCrowd.

OurCrowd, which has created a network of more than 20,000 investors in 112 countries, entered the Australian market in 2014 and its global deals have been well supported by local investors.

NAB Private customers investing through the bank will pay the same fees as if they invested through the platform directly, but NAB will receive 20 per cent of those fees back from OurCrowd under the terms of the alliance. NAB customers will get access to popular deals which may be funded before they go onto the broader platform, and may receive priority allocations.

OurCrowd chief executive Jon Medved said the platform will be offering deals across a wide range of technologies, including machine learning, digital health, agtech, cyber-security, drones and robotics.


To read more, please click on the link below…

Source: NAB private banking in alliance with Israel’s OurCrowd |