According to the official statement, the latest multi-million-dollar investment that Gr4vy received from W23, Woolworths Group’s venture capital arm, is an expansion on an existing partnership initially announced in 2022. The new funding will reportedly be used by the company to further expand its presence in Australia and the APAC region.
When commenting on the recent news, Gr4vy’s founder and CEO stated that the company’s collaborative relationship with Woolworths Group, a large retailer in Australia, helped the payments infrastructure provider with better visibility over the challenges companies of this kind face.
Unveiling further investment details
W23 is an investment company that provides capital as well as support to local and global startups, scaleups, and small businesses that activate in retail and climate tech.
As outlined in the press release, the investment comes at a favourable time, as the global payments market is
anticipated to grow over USD 612 billion in 2023. In this context, solutions that cater to the needs of merchants, such as orchestration and infrastructure offerings, are essential.
Gr4vy is a payment orchestration platform that addresses the needs of merchants regarding payment challenges. As part of its solution, the company provides an IaaS payments platform that leverages cloud technology that is used to construct and manage payment ecosystems.
Access to the infrastructure can be gained through universal integration. By leveraging Gr4vy’s capabilities, merchants are reportedly able to personalise the checkout experience of all customers and revamp the process of developing rules for routing and retries, tokenizing transactions, and transferring data between providers, among others.
As outlined in the official statement, given its access to more than 100 payment methods and anti-fraud providers from all over the world, Gr4vy can enable merchants to scale their payments and expand into new markets.
Gr4vy’s strategy and past developments
Since the start of 2023, Gr4vy has secured a series of strategic partnerships. In January, the company partnered with mobile top-up service Ding, in a bid to provide Ding’s customers with alternative payment methods and flexibility at checkout. Similarly, Gr4vy extended its services to G+D, SmartOSC, Mythical Games, and Setplex.
Strategy-wise, the cloud-native payments infrastructure provider extended its offerings by
launching a cloud vault for card data management. This latest product was introduced with the aim to help merchants collect and store card data securely.
