Emerge Secures $12M to Transform Business Banking in New Zealand

New Zealand’s Challenger Bank-In-Waiting Takes a Step Closer to Revolutionizing Business Finance
Auckland, New Zealand – Emerge, the digital-first business banking alternative co-founded by Jamie Jermain and Jovan Pavlicevic (the minds behind SquareOne), has raised $12 million in a Series A funding round, positioning itself as a leader in redefining business banking for Kiwi entrepreneurs. This latest investment, led by Altered Capital with participation from Icehouse Ventures, K1W1, NZ Fintech Fund, and US venture capital firm Hard Yaka, will enable Emerge to accelerate its go-to-market strategy and bolster its marketing, sales, and product teams.
Despite not yet being a fully registered bank, Emerge is already making waves in New Zealand’s financial landscape. Designed to address the inefficiencies and frustrations surrounding traditional business banking, Emerge offers a seamless and user-friendly experience. “Emerge was built to help Kiwi businesses do more, faster, and better. In just a few minutes, businesses can open multiple accounts with features superior to those of legacy banks, and instantly issue team cards,” explained co-founder Pavlicevic. “We’re seeing rapid adoption and customer love—and we’re just getting started.”
Revolutionizing Business Banking with a Simple, Frictionless Solution
Emerge is not your traditional bank. Its digital-first platform allows businesses to open accounts instantly through an app, eliminating the need for lengthy paperwork or branch visits. The platform’s unique features include generating cards with real-time spending controls, removing the hassles associated with expense claims, and offering enriched transaction data to give businesses greater clarity on their finances.
One standout innovation is EmergePay, a feature that turns any phone into a payment terminal, enabling businesses to accept payments effortlessly. Additionally, batch payments allow businesses to pay multiple invoices directly from their accounting software, streamlining operations. With these features, Emerge is positioning itself as a next-generation banking alternative that simplifies business operations while saving time and money for its users.
“Our fully digital onboarding process means no branch visits or paperwork, allowing businesses to focus on what really matters—their operations,” said Jermain. “We’ve built the simplest solution in the industry, and the feedback from our customers has been overwhelmingly positive.”
On the Path to Becoming New Zealand’s First Challenger Bank
While not yet a licensed bank, Emerge has ambitions to become a fully-fledged challenger bank in New Zealand. The company aims to serve a broad range of customers, from kids (via SquareOne) to business owners (via Emerge), with plans to expand its offering to individuals and sole traders in the near future.
This Series A round is Emerge’s second funding round led by Altered Capital, which has a history of backing successful challenger banks like the UK’s Starling Bank. “Emerge is tapping into New Zealand’s entrepreneurial spirit with a frictionless banking experience that’s already changing how Kiwis manage their money,” said McGregor Fea, Managing Partner of Altered Capital. “We’re excited to support them in redefining what banking can be—from New Zealand, for New Zealand, and beyond.”
Looking to the Future
With this new funding, Emerge is poised to significantly expand its reach across New Zealand and continue rolling out innovative features designed to reshape the way businesses manage their finances. “This is more than just better business banking—it’s a gateway to smarter, faster business operations,” Pavlicevic concluded. “With this capital, we’re ready to make an even bigger impact and help New Zealand businesses achieve more with their money.”
About Emerge
Emerge is a digital-first business banking platform built to help businesses operate faster, more efficiently, and more cost-effectively. Combining cutting-edge technology with best-in-class financial management tools, Emerge provides businesses with an all-in-one platform for managing their finances. With zero fees and seamless account management, Emerge is committed to transforming how Kiwi businesses handle their money.