ASX-listed payments leader Novatti Group Limited have announced that the local financial services and investment management firm, Australian Wealth Advisors Group Ltd (AWAG) – along with its subsidiary Armytage Private – have committed to provide $1 million in funding to underpin Novatti’s growth strategy.
Armytage Private was established in Melbourne in 1995 and operates a number of Australian equity-focused investment funds. Its commitment follows the successful implementation of Novatti’s turnaround strategy, its pivot back to growth in Q4 FY25, and the strong financial results recorded in Q1 FY26, including achieving positive operating cashflow.
The $1 million in funding will be allocated towards accelerating Novatti’s pivot back to growth, particularly within Novatti’s Acquiring business, which will now seek to replicate the recent growth seen in Issuing that is EBITDA positive. Key activities to follow this funding include:
- Increased marketing in targeted verticals
- Bolstering acquiring sales
- Product feature enhancements
Commenting on this announcement, Novatti CEO, Mark Healy, said, “We are delighted to have Australian Wealth Advisors Group join Novatti as a strategic investor. Their investment of $1 million will not only support the implementation of Novatti’s pivot back to growth, it will also see Novatti benefit from leveraging their deep expertise and ecosystem connections.”
Commenting on its investment, Lee laFrate, Executive Chairman of Australian Wealth Advisors Group, said, “AWAG invests in businesses that meet a strict criterion, including holding strategic assets or technology and providing a genuine growth opportunity. With this in mind, we have been tracking Novatti for some time. We have been impressed by the deep commitment to implementing their turnaround strategy and their successful pivot back to growth. The funding is specifically to help unlock growth within Novatti’s business in the immediate future and we will be working alongside them to see this potential fulfilled.”
