The investment will allow DASH to fast-track key developments, with immediate initiatives including the acceleration of both its software and platform technology.
The company also revealed plans to expand its workforce, aiming to increase its headcount by 20 over the next six to 12 months. This growth, according to a statement issued by the firm, will support its technology, sales, client transitions, and software teams, with a focus on enhancing its platform to meet “next-generation adviser” needs.
Reflecting on the investment, DASH chief executive Andrew Whelan emphasised that the company is still a young brand.
“While we have achieved a lot in this short time, we have much more on our roadmap. This investment will allow us to fast-track our key developments, all of which are advice and client led,” Whelan noted.
“At DASH, we are facilitating a different advice model to give more Australians access to the advice they need to navigate the complex areas of financial planning and investment administration.”
The financial advice software provider further highlighted that Bailador had been “particularly impressed” by the growth trajectory of the business and product vision for DASH’s platform.
“Bailador seeks to make high conviction investments in premium technology businesses at the expansion stage and DASH is a high-quality business that possesses all the positive characteristics that Bailador looks for in a new investment,” James Johnstone, Bailador partner, said.
This year, DASH has also made a series of appointments as it entered its next growth stage.
Last month, the firm announced the appointment of Jim Lim as its next chief technology officer, replacing Ted Tsao who had held the role for two years.
In April, it also announced 10 appointments across its operations, platform, superannuation, product development, and client success teams.
The team upgrades come after DASH completed a capital raise in March, which the fintech said would enable it to play an important role in making financial advice more accessible.
The upgrades included the appointment of Michelle Russo as the chief operating officer and Mark Blair as a super specialist.
“Getting the right people in the business is crucial right now. We are on track to deliver some innovative and exciting solutions for advisers that we believe will be a positive addition to any advice practice,” Whelan said at the time.
