The investment will allow DASH to accelerate key developments with immediate initiatives, including accelerating both 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 the platform to meet the needs of “next-generation advisors.”

Reflecting on the investment, DASH CEO Andrew Whalen emphasized that the company is still a young brand.

“While we have achieved a lot in this short time, we have much more on our road map. This investment will allow us to fast-track our key developments, all of which are advisory and customer-led,” noted Whalen.

"At DASH, we're 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 advisory software provider further emphasized that Bailador was "particularly impressed" by the business growth trajectory and product vision for DASH's platform.

"Bailador seeks to make high-conviction investments in first-rate, expansion-stage technology businesses, and DASH is a high-quality business that possesses all the positive characteristics that Bailador looks for in a new investment," said James Johnstone, Bailador partner.

DASH also made a series of appointments this year as it entered its next stage of growth.

Last month, the firm announced the appointment of Jim Lim as its next chief technology officer, replacing Ted Tsao, who held the position for two years.

In April, it also announced 10 appointments across its operations, platform, pensions, product development and customer success teams.

The team upgrades come after DASH completed a capital raise in March, which the fintech says will allow it to play an important role in making financial advice more accessible.

Enhancements include the appointment of Michelle Russo as COO and Mark Blair as Super Specialist.

“Attracting the right people to the business is critical right now. We are about to deliver some innovative and exciting solutions for consultants that we believe will be a positive addition to any consulting practice,” Whelan said at the time.