AUDC raises $5 million in a Pre-Series A round – value of Novatti’s interest increases to $16 million
ASX-listed Novatti Group Limited, a payments leader bridging traditional payments and regulated digital finance, have announced that the issuer of AUDD stablecoin, AUDC Pty Ltd, has raised $5 million in a Pre-Series A equity capital raising.
The round attracted $5 million in new investment, with new shares issued at A$0.80 per share.
AUDC has now raised over A$8 million in equity at increasing valuations. The participation of a large global institutional lead investor reinforces AUDC’s credibility and positions the company strongly for its planned Series A round.
Novatti continues to hold 20 million shares in AUDC, representing a circa 45% interest and now valued at $16 million. Novatti’s interest was previously valued at $7 million following the completion of AUDC’s Seed Round.
Commenting on this announcement, Novatti CEO, Mark Healy, said, “The deep investor interest and success of AUDC’s Pre-Series A round reaffirms yet again the value created from Novatti incubating this business. It also reaffirms AUDD’s genuine standing as the leading AUD-backed stablecoin, operating within Australia’s strict regulatory framework.”
“With Novatti maintaining a 45% interest in AUDC, now valued at $16 million following the Pre-Series A round, we continue to be exposed to any further upside in AUDD’s use and adoption moving forward.”
“The calibre of the lead investor, inWelt Holdings AG, and the oversubscription from additional strategic participants further validate the strength of AUDC’s governance, regulatory posture, and market traction.”
The Pre-Series A round follows multiple recent milestones for AUDD, including:
- $1 billion in transactions on the Stellar blockchain alone
- Becoming the first Australian Dollar stablecoin to be made available on Coinbase
- AUDC signing a separate strategic partnership with Coinbase
- Recognised as Start-Up / Scale-Up of the Year at the Blockies, an industry awards program hosted by the Digital Economy Council of Australia (DECA)
Disclosure: At the time of writing, Australian FinTech Pty Ltd is a shareholder of Novatti Group Limited.
