Hey Intelligent, an Australian ‘buy-to-earn’ startup that provides consumers real-time cashback, has raised A$4.5 million in seed funding.
Based in 2021, Hey Intelligent is a funds and monetary administration platform geared toward Australia’s Gen Z that’s billed as as an alternative choice to debt-based BNPL platforms.
At its centre is an API powered by Australia’s Funds Platform (NPP) and the related PayTo and PayID companies.
The API lets Hey Intelligent present real-time money again for patrons once they store at collaborating retailers and permits customers to trace their spending throughout a number of financial institution accounts in real-time.
The startup makes use of open banking, quick funds, and AI applied sciences to assist clients discover the most effective retailers for his or her wants and guarantee they get rewards.
Lead investor Mark Munoz says: “We forecast Hey Intelligent with the ability to develop into Southeast Asia by way of Philippines, Indonesia, and Vietnam. These are all massive markets with huge, younger, and tech-savvy populations that may profit enormously from a cost answer like Hey Intelligent.”