National Australia Bank (NAB) has joined forces with Israel-based crowdfunding platform OurCrowd to offer its customers access to startup investments.
The deal is touted as the first of its kind in the Australian market.
Till date, OurCrowd has raised over AUD600m from around 20,000 investors across 112 countries for over 120 startups. The platform hitherto has 13 exits, which includes two IPOs and 11 acquisitions.
The platform made its foray into Australia in 2014.
NAB Private executive general manager Christine Yates said: “We know that our clients are looking globally for investment opportunities, and OurCrowd is an established global platform which offers a full service end-to-end solution.
“Technology is changing the way we do business and this shows how banks need to think differently when it comes to servicing their clients. Our NAB clients will have access not available outside this collaboration.”
OurCrowd Australia and Asia managing director Dan Bennett added: “The collaboration provides NAB Private clients a high quality globally focused product with particular scope in USA, Israel and Asia-Pacific.”