Hello Clever, an Australian 'buy-to-earn' startup that gives shoppers real-time cashback, has raised A$4.5 million in seed funding.
The round was led by Vectr Fintech Partners with participation from CrossFund, Yolo Investments, Magnivia Ventures, Son Tech Ventures, Boson Ventures and a host of angels.
Founded in 2021, Hello Clever is a payments and financial management platform aimed at Australia's Gen Z that is billed as as an alternative to debt-based BNPL platforms.
At its centre is an API powered by Australia's Payments Platform (NPP) and the associated PayTo and PayID services.
The API lets Hello Clever provide real-time cash back for customers when they shop at participating merchants and allows users to track their spending across multiple bank accounts in real-time.
The startup uses open banking, fast payments, and AI technologies to help customers find the best merchants for their needs and ensure they get rewards.
Lead investor Mark Munoz says: "We forecast Hello Clever being able to grow into Southeast Asia through Philippines, Indonesia, and Vietnam. These are all large markets with big, young, and tech-savvy populations that can benefit enormously from a payment solution like Hello Clever."