Sydney, Australia -- 15 April 2005 -- Distra, developer of next generation electronic payments applications, today announced the closing of an AUD$5 million investment round with new investor Starfish Ventures.
Mike Aston, Chief Executive Officer, said, “We are pleased to have broadened our shareholder base to now include Starfish Ventures. This investment round will enable Distra to progress the commercialisation of our exciting new electronic payments switch product and increase customer development and support activities.”
“Distra's electronic payments product is uniquely placed to meet the growing transformation taking place within the global arena, characterised locally through the rapid growth in electronic payments and the reforms driven by the Reserve Bank of Australia,” John Dyson, Investment Principal of Starfish Ventures said. “The Distra team has been successful in generating interest in their product from some of the largest payments processors in the world.” John Dyson will join the Board of Directors of Distra.
Distra's modern, fault-tolerant , cost-effective EFT payments platform offers a compelling competitive advantage through cost reduction and increased business agility. Distra's switch is deployable on open computer systems, without sacrificing the failsafe 24/7 fault-tolerance the industry demands. Costs reductions can be made from each of the following:
- The hardware platform
- Integrated use of the Disaster Recovery Site
- No need for Database Replication Software
- Inherent Performance Monitoring and back office support
- Reduced operational and development costs
- Rapid implementation of new products or services without downtime
- Reduced upgrade costs
Through its contemporary open architecture, the Distra switch allows rapid modification of existing applications and the development of new services on-the-fly, supporting the introduction of and changes to business practices, devices, reports, and products with unrivalled speed.
Supported through global partnerships with Hewlett Packard and Oracle and other local partnerships throughout the Asia Pacific region, Distra's switch is rapidly gaining the attention of major payment processors.
Distra is an independent Australia software company that has developed next generation switching technology that directly addresses the challenges facing the global payments industry. More information on Distra can be found at http://www.distra.com
About Starfish Ventures
Established in 2001, Starfish Ventures is an Australian owned venture capital fund manager seeking superior returns through active investment in companies with innovative technology. Starfish Ventures manages funds with committed capital of approximately $180 million and invests in all technology sectors including information and communications technology, biotechnology and life sciences, industrial technology and material sciences. The team's track record includes Australian technology success stories ResMed, Moldflow, Preston Aviation Solution and Sirtex Medical.