CBA’s x15ventures marks one year with acquisition of Doshii

x15ventures, Commonwealth Bank’s venture scaling business, today announced the addition of a fifth business to its stable.

Doshii, a modern cloud platform and marketplace, brings together venues, point of sale (POS) and apps in the one place for small and large hospitality venues and outlets.

Managing anything from reservations and online delivery services, to customer loyalty programs and modern-day payments, Doshii curates these apps into a single marketplace and makes them easy to connect to the venue’s POS – reducing errors, costs and delays for the business and opening up new possibilities for more customers and more orders.

Doshii also delivers new experiences for patrons, allowing them to order and pay at their table. It saves them time and reduces error for the staff behind the counter, making for a better customer experience.

Speaking today at CBA’s 2021 technology update at the bank’s new tech hub at South Eveleigh, x15ventures Managing Director Toby Norton-Smith, said: “When we launched x15 last year, our mission was to bring new solutions to market that empower customers as never before, and Doshii is an exciting business proposition built with leading technology and a growing ecosystem of apps and merchants on the platform.

“It is a transformative solution for the hospitality space – stitching together the diverse range of new digital services and apps that consumers and merchants are using, with the inherently physical nature of the industry.

“Doshii is our first ‘platform’ business, and to make it successful we want to bring the best of CBA’s backing and scale to grow it, while allowing the business to remain independent and continue to innovate and grow the ecosystem of services on the platform,” he said.

Doshii Founder, Sean O’Meara, said: “Under x15 and CBA’s ownership, we will be able to combine our cutting edge technology, with CBA’s financial backing and distribution capabilities to deliver tangible benefits to SME and enterprise venues across the hospitality sector. Streamlining the operations by enabling a centralised platform to connect and manage a range of apps required to run a modern day business – and ultimately improve the running of the venue, which leads to better experiences for customers.

I’m looking forward to working with the Doshii management team and continuing our work with existing and new venues, app partners across the in-venue order and payment, delivery, loyalty and reservation apps and POS partners,” he said.

x15ventures – 1 year anniversary

The acquisition of Doshii comes as x15 celebrates its first anniversary, after a year in which it launched four successful ventures: Home-in, Credit Savvy, Vonto and Backr.

  • Home-in: a digital home buying concierge, drives a delightful customer experience (NPS of 50+), helps home lenders convert customers, and is growing at 37 per cent month on month since it has been integrated in the CommBank app.
  • Credit Savvy: which allows customers to view their credit score for free, has provided more than 31 million credit scores to Australian consumers since it was first launched in 2015.
  • Vonto: a platform that aggregates business insights from other providers such as Xero, Quickbooks and Google Analytics to help SME owners better manage their business – has been downloaded by more than 23,000 consumers since it was launched.
  • Backr: a web app designed to help first-time business owners through the process of starting a business, has already helped more than 1,000 businesses get off the ground since it launched in October 2020.

It follows x15’s recent appointment announcements of fintech industry stalwart Ben Heap, as non-executive, independent Chairman and Jane Martino as its first external portfolio adviser to support the venture builder’s rapid growth.

“Customers are increasingly looking for leading, innovative digital solutions. At x15, we are committed to providing Australians with best-in-class technological solutions, and we are excited to continue to bring innovative ventures to the market. Our strong integration with CBA allows us to leverage the bank’s scale and reach to provide greater opportunities for our ventures to grow rapidly, while also creating value for CBA’s customers,” concluded Mr Norton-Smith.

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