Identitii’s BNDRY Growth Hinges on Regulatory Pressure and Payble Exit
Identitii Limited has sold its remaining Payble shares for $1.6 million, channeling the funds into expanding its BNDRY platform through a strategic partnership with Cherryhub targeting Australia's clubs and pubs sector.
- Sale of Payble shares to OIF Ventures for $1.6 million
- Funds to accelerate BNDRY platform's go-to-market strategy
- Focus on compliance solutions for clubs and pubs via Cherryhub partnership
- Non-dilutive capital extends operational runway into 2026
- Increased regulatory scrutiny driving demand for financial crime compliance
Strategic Capital Raise Through Asset Sale
Identitii Limited (ASX – ID8) has announced the sale of its remaining shares in Payble Pty Ltd to OIF Ventures for $1.6 million. This move provides the fintech company with non-dilutive working capital, extending its financial runway well into 2026. The proceeds are earmarked to accelerate the development and market penetration of Identitii’s BNDRY platform, a compliance-focused solution gaining traction in Australia's hospitality sector.
Targeting Compliance in Clubs and Pubs
The BNDRY platform’s growth is closely tied to a recently forged partnership with Cherryhub, a key player in the clubs and pubs industry. This collaboration leverages Cherryhub’s extensive industry connections and proprietary data, including gaming machine systems and venue membership information, to deliver a tailored compliance hub. The timing is critical, as financial crime compliance has become a pressing concern following AUSTRAC’s legal action against a major Australian club group for alleged anti-money laundering breaches.
Market Momentum Post-Industry Expo
Identitii showcased the Cherryhub x BNDRY solution at the Australasian Gaming Expo last month, drawing significant interest from venues nationwide. The company’s CEO, John Rayment, highlighted the unique advantage of direct data integration, which positions the solution well amid heightened regulatory scrutiny. While demand is strong, the company acknowledges the challenge of converting interest into revenue-generating contracts and plans to provide updates on progress in due course.
Implications for Identitii’s Growth Trajectory
This strategic divestment and capital injection underscore Identitii’s focus on scaling its core compliance technology rather than maintaining minority stakes in other ventures. The non-dilutive nature of the funding is particularly notable, preserving shareholder value while enabling aggressive go-to-market efforts. As regulatory pressures mount in the financial crime compliance space, Identitii’s BNDRY platform, supported by Cherryhub’s industry insights, could capture a significant share of a growing market.
Bottom Line?
Identitii’s pivot to fund BNDRY growth with non-dilutive capital sets the stage for a critical phase of commercialisation amid rising compliance demands.
Questions in the middle?
- How quickly can Identitii convert industry interest into paying customers for BNDRY?
- What are the specific revenue targets and timelines linked to the Cherryhub partnership?
- Could further regulatory actions in the clubs and pubs sector accelerate demand for Identitii’s solutions?
