Funder Type: Corporate
Funder Location: Australia, New South Wales
Funder Linkedin: https://www.linkedin.com/company/x15ventures
Funder URL: http://www.x15ventures.com.au
x15ventures is building the next generation of solutions for 15 million customers, by unlocking new value from CommBank's assets through partnership with the tech and innovation community. By partnering with seasoned entrepreneurs, offering them support, guidance and access to our customer base and distribution networks, we're not only empowering Australia's most inspiring innovators, we're reshaping banking as we know it.
What do we mean by venture building?
Unlike traditional corporate venture models, X15 Ventures is much more hands on and designed to have a direct, positive impact on our customers. In this model, we don't just offer seed money or take a minority stake in a business, but offer a technology stack, operating model and risk management approach which ensures that ventures have ‘pre-approved' opportunities to leverage CommBank's assets. This dramatically cuts down the time and effort for ventures to scale or conduct business development with CommBank.
What types of ventures will sit within X15?
We are focusing on two broad types of businesses:
- Natural Extensions or Adjacencies. Ventures that provide new convenience to customers, as a natural extension of their banking data, products and services. For instance, helping a small business improve the way they manage their business by providing them with world-class AI capability and analytics.
- Potential Disruptors. Ventures that re-imagine banking and provide opportunities to deliver financial services to our customers in new and different ways.
More specifically, we're targeting four key focus areas related to financial services where we believe we can have a positive impact for our customers:
o Home & Housing
o Modern living, learning and earning
o Data and digital enabled businesses
o Platforms to exchange, verify and record
We're always on the look out of great talent! Apply here:
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