Consumer Data Right startup Adatree has raised $1.2 million in a seed round co-founder Jill Berry says was nearly three-times oversubscribed.
Tyro Payment co-founder Peter Haig and the company’s chair, Kerry Roxburgh, led the round alongside Equity Seed, Kylie Frazer and Rachael Neumann of Eleanor Ventures, and bank executive Angus McBean.
Equity Seed’s Mark Hutchins is joining Adatree’s board.
Berry, Adatree’s CEO, was product lead on Tyro’s cash flow business lending product and a founding member of the neobank Volt before going off to found her CDR tech platform with Shane Doolan in 2019.
With CDR, often referred to as open banking, now seven months old in Australia, the duo are looking to ramp up Adatree, which helps fintechs gain access to open banking, offering of a scalable technology platform for companies to access and leverage data, accessible through a single API.