Super trustee platform signals data growth plans after capital raise

Superannuation regtech provider, Nuj, has landed a $4 million capital raise spearheaded by angel investor, Peter Bauer, signalling its plans to enhance its data capabilities within its trustee reporting platform.

The Nuj Data Platform is designed to ensure superannuation trustees and executives remain on track with their risk and governance requirements and compliant with regulatory reporting tasks, analysing data in real-time to provide a holistic view of all mandatory reporting in a single platform.

Nuj Founder and CEO, Matthew McKenzie, said the investment would also allow the regtech to capitalise on further opportunities in emerging technologies and untapped markets.

“This capital raise is a significant milestone for Nuj and has energised our team to go bigger and do better,” he said.

“We’re very fortunate to have Peter and his team on board with us as we grow. Peter has been here before and there is so much we can learn from his experience scaling a resilient data-driven solution.”

The capital injection, made up of seed equity and debt, follows several years of interest from Bauer, who is the co-founder and former CEO of global cybersecurity firm, Mimecast.

“Nuj has built a powerful data platform that addresses an expensive challenge across the Super industry – one of staying ahead in compliance with regulations,” Bauer said.

“At the same time as more firms seek to leverage AI, we know that AI is only as smart as the data that it works from. Nuj’s data platform is laying the foundations for AI to be more effective and accurate for firms across the Super industry and ecosystem covering a wide variety of use cases.”

Nuj’s client base consists of several superannuation and trustee mainstays, including MUFG, AMP and Equity Trustees.