Woolworths' W23 backs payments fintech Gr4vy

Woolworths Group’s innovation arm W23 has made a "multi-million dollar" investment in cloud payments infrastructure provider Gr4vy.

The deal builds on an existing relationship with Gr4vy which saw Woolworths' Wpay use Gr4vy’s payment orchestration platform technology as part of its product development and innovation.

The two partnered towards the end of 2022, signing a multi-year year agreement to help simplify Wpay's ability to manage complex payments.

W23 managing director Ingrid Maes said in a statement that it was "always on the lookout for businesses and technology that disrupt the status quo.”

“Gr4vy’s payment orchestration platform and infrastructure makes managing payment complexities easy and simplifies offering payment optionality," Maes said.

“We’re pleased to work with them as a trusted partner and to help support their business goals and continued success."

Gr4vy has also previously raised $27.2 million in total funding and is expected to utilise its recent raise to further grow the company within Australia and the broader Asia Pacific region.