Leading developer of software solutions for business processing guidance, Panviva Pty Ltd, announced that it was able to obtain equity financing worth Aus $4 Million in its Series B financing round from SBI Jefferies Asia Fund.
SBI Jeffries is a partnership between Jefferies Group and SBI Group. Jefferies is a NYSE-listed private equity firm and global investment bank while SBI Group is a financial services conglomerate listed in Hong Kong, Tokyo and Osaka.
Support and funding from SBI Jefferies will be used to further develop Panviva's ventures in the development of cloud-based products and increase its growth globally in the banking and telecommunications sectors. Part of the funding will also be used in the expansion of the company's leads in the American health insurance market. In 2012,
Panviva's telecommunication and banking business in Australia and the United Kingdom increased by forty percent. It also increased its client base in the United States healthcare market despite mandated reforms by the government resulting in greater restrictions, further complications and competitive pricing.
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