The National Australia Bank Ltd (ASX: NAB) share price closed higher on Tuesday.
This comes after the bank's venture business appeared to be going in for a second round of providing capital to payments technology provider DataMesh.
At market close, the banking giant's shares finished the session up 0.97% to $30.28 each. Meantime, the S&P/ASX 200 Index (ASX: XJO) also gained 0.65% on the day.
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NAB back for seconds?
The NAB share price enjoyed a day in the green following a recent report by the Australian Financial Review.
According to the publication, DataMesh is seeking to raise $15 million from NAB as part of its $115 million pre-money valuation.
The term 'pre-money valuation' refers to the value of a company before it goes public or receives other investments. This can be external funding or financing from venture capitalists, private equity investors, or corporate investors.
DataMesh touts itself as a ground-breaking technology company that helps merchants deliver a seamless in-store and online experience. It provides low-cost and flexible payment terminal solutions integrated with leading point-of-sale systems.
Last year, DataMesh secured $12 million in a pre-Series A funding round which included NAB Ventures as a small investor.
This time around, it is expected that NAB will write another cheque to DataMesh.
The remaining amount will likely be covered by other strategic investors with fintech experience.
NAB share price summary
Despite backtracking 1.4% in the past month, the NAB share price has risen by 5.24% in 2022 so far.
The bank's shares reached a 52-week high of $33.75 on 21 April, before investors took profit off the table.
It's worth noting that even at today's prices, the company's shares are trading above pre-COVID-19 levels.
NAB commands a market capitalisation of approximately $96 billion, making it the fourth largest company on the ASX.
