CBA’s venture arm, X15, takes invoice lending fintech Waddle off Xero’s hands

x15ventures MD Toby Norton-Smith said placing the fintech under his organisations wing will give Waddle the flexibility and freedom to continue innovating at pace.

“We set up x15ventures so that digital native businesses can operate how they’re used to – both culturally and technically – while also getting access to the assets and reach of one of Australia’s leading banks,” he said.

“We look forward to welcoming Waddle to x15ventures and helping them continue to realise their ambitions to scale and support more small businesses.”

Completion of the transaction is expected to occur reasonably soon after satisfaction of customary conditions.