Basiq Company Profile
Basiq, founded in 2016 and headquartered in Sydney, Australia, is a financial software company developing an open banking platform that provides secure access to customer-consented financial data for services like account verification and credit risk assessment, raised $12.6M through multiple VC funding rounds before being acquired by Cuscal in March 2023, and competes with firms such as Strands, Moven, InvestCloud, Meniga, and Revio Insight.
Overview
Basiq is a developer of an open banking platform designed to provide secure access to customer-consented financial data and insights. The platform facilitates the creation and rendering of account verification, credit scoring, credit risk assessment, wealth management, and other related services, enabling clients to improve decision-making and customer engagement.
- Year Founded: 2016
- Status: Acquired/Merged
- Employees: 65 (as of 2023)
- Latest Deal Type: Merger/Acquisition (10-Mar-2023)
- Parent Company: Cuscal
- Primary Industry: Financial Software
- Headquarters: Sydney, New South Wales, Australia
- Website: www.basiq.io
Financing Status
- Formerly VC-backed
Vertical(s)
- Artificial Intelligence & Machine Learning
- TMT
- FinTech
Valuation & Funding
Basiq has completed several funding rounds:
- 1.Seed Round (06-Jun-2017) – Completed (Startup stage)
- 2.Early Stage VC (10-Dec-2018) – Completed (Startup stage)
- 3.Early Stage VC (Series A) (04-Sep-2019) – Completed (Generating Revenue)
- 4.Later Stage VC (07-Dec-2021) – Completed (Generating Revenue)
- 5.Merger/Acquisition (10-Mar-2023) – Completed (Generating Revenue)
Total funding raised: $12.6M
Comparisons
Basiq is compared with other companies in the financial software industry, including:
- Strands (Financial Software) – Barcelona, Spain
- Moven – Fort Lauderdale, FL
- InvestCloud – West Hollywood, CA
- Meniga – London, United Kingdom
- Revio Insight – Austin, TX
Competitors
Some of Basiq’s competitors include:
Former Investors
Notable investors in Basiq include:
- Angel (individual)
- National Australia Bank
- National Australian Bank Ventures
- Plaid
- Reinventure Group
FAQs
When was Basiq founded?
Basiq was founded in 2016.
Where is Basiq headquartered?
Basiq is headquartered in Sydney, Australia.
What is the size of Basiq?
Basiq has 65 total employees.
What industry is Basiq in?
Basiq’s primary industry is Financial Software.
Is Basiq a private or public company?
Basiq is a private company.
What is Basiq’s current revenue?
The current revenue for Basiq is not disclosed.
How much funding has Basiq raised over time?
Basiq has raised $12.6M.
Who are Basiq’s investors?
National Australia Bank, National Australian Bank Ventures, Plaid, and Reinventure Group are among the investors who have invested in Basiq.
Who are Basiq’s competitors?
Strands (Financial Software), Moven, InvestCloud, Meniga, and Revio Insight are some of the competitors of Basiq.
When was Basiq acquired?
Basiq was acquired on 10-Mar-2023.
Who acquired Basiq?
Basiq was acquired by Cuscal.