Practifi completes $24m funding round

The Series B funding round was led by US-based Updata Partners with participation from existing Series A investors Equity Venture Partners (EVP), according to a statement.

The funding will be used to scale the team, expand presence around the globe, and invest in the software platform to further elevate the client experience, Practifi said.

“I’m tremendously proud of how much we’ve accomplished in revolutionising the technology available to Australian advisers, superannuation funds and trustees, but this is only the beginning,” said Practifi co-founder and chief executive Glenn Elliott.

Practifi co-founder and chief commercial officer Adrian Johnston said it’s deeply committed to extending the platform to add even more value with so much pressure across both advice and super.

“Whether our clients are looking to improve client, member or employer relationships or they’re wanting to reduce the burden of compliance, we’re right there,” Mr Johnston said.

Adrian Flores

Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

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You can contact him on [email protected].