Australian logistics giant Toll Group reverted to manual systems after a ransomware attack on part of its IT network last week, as the company liaises with government cybersecurity experts and works to restore its systems. The government’s Australian Signals Directorate’s Australian Cyber Security Centre (ACSC) issued a warning yesterday for companies to update their… Read more »
Booktopia has rebounded from an aborted $10 million crowdfunding campaign last year to land double that amount as it pushes towards becoming the company leading book retailer. Champ Ventures CEO and co-founder Su-Ming Wong and JBS Investments CEO and founder John Sampson led a consortium of investors in a $20 million capital raise as the… Read more »
Judo Bank, the nascent fintech for SMEs, is once more on the hunt for cash, hoping to find another $400 million in a round 3 capital raise, just seven months after it set the Australian record for private funding for a startup round, with the same figure. The digital bank’s round 2 was initially meant… Read more »
Happy Wednesday team Here’s what we’ve seen going down. 1. Won’t somebody think of the Tesla shorters? Shares in Elon Musk’s electric car company skyrocketed 36% in the last two days, from US$650 to $887 at the Nasdaq’s close on Tuesday, having broken through the $900 barrier during the day’s trade. There’s no one more… Read more »
According to the proverb, first impressions are the most lasting. But for new customers if that first experience isn’t a good one, the impression may last longer than the relationship with the vendor. In the US, research found that one third of customers will move to a competitor after just one instance of bad service.… Read more »
The Perth Mint, the government-owned bullion trader, which owns Australia’s only gold refinery, and produces 10% of the world’s gold, has enlisted ASX-listed blockchain technology company Security Matters Ltd (ASX: SMX) to ensure the ethical origins of the gold it sources and sells. The Mint has signed an MoU (Memorandum of Understanding) with Security… Read more »
Melbourne fintech Airwallex is launching a new global payments product for business in a partnership with credit card giant Visa. The fintech says the Airwallex Borderless Card for businesses will save companies time, cost and hassle on international transactions. “The collaboration focuses on innovative multi-currency cross-border payment solutions for businesses, bringing together Airwallex’s market-leading international… Read more »
ASX-listed Openpay has signed a deal with Woolworths that takes the fintech into the B2B sector. Woolworths will launch Openpay for Business, which allows companies to manage trade accounts end-to-end, including applications, credit checks, approvals and account management in the one system. The move is a shift way for Openpay from buy-now-pay-later (BNPL) services… Read more »
Welcome to Monday. Here’s what we’ve spotted. 1. Opening the Gates to women Melinda Gates has pledged US$50 million (AU$75m) towards helping women get into tech. In a LinkedIn post last week, the woman who’s giving away US$1 billion in 10 years to improve the power and influence of women, observed that “women graduate… Read more »
MYOB’s new CEO Greg Ellis doesn’t believe in the well-worn startup maxim ‘fail fast’. “I really hate the expression,” Ellis said revealing he’s instilling new drive and vigour in the teams at the now privately-owned accountancy software business. His predecessor, Tim Reed, who spent a decade in the top job before calling time last September,… Read more »
Hello! It’s a hot Friday, so let’s get cracking. 1. Apple’s US$1.1bn Wi-Fi damages case Apple and Broadcom will pay US$1.1 billion in damages to the California Institute of Technology for infringing its Wi-Fi technology patents, following a court case. Bloomberg reports CalTech lawyers said Apple’s share is $837.8 million and Broadcom, $270.2 million from the… Read more »
It’s Thursday, the BNPL wars just went up another notch, and Rafa’s out of the Australian Open. The Barty party is over. Meanwhile… 1. Planet Elon’s stocks rise Let’s call it a victory for the true believers. Shares in Elon Musk’s Tesla are heading towards $600, rising to a new record high overnight at… Read more »
The Royal Automobile Club of WA’s seed capital fund BetterLabs Ventures, has tipped another $20 million into the kitty of the $3 million fund it launched in 2018. The initial success of the fund, which received more 150 applications and made four investments – Power Ledger, Complete Home Filtration, and SpacetoCo – in its first… Read more »
The Commonwealth Bank has taken the fight to buy-now-pay-later (BNPL) fintechs such as Afterpay and Zip, bringing Swedish rival Klarna to Australia. Klarna Australia launched today and is available through the CBA’s app for online shopping. The BNPL is also available to non-CBA consumers via the Klarna app. CBA announced last year that it was… Read more »
Welcome to Wednesday. Let’s do this. 1. UK lets China’s Huawei in on 5G UK PM Boris Johnson has ignored US concerns about Chinese multinational telecommunications company Huawei and will let it build part of the country’s 5G network. Australia banned Huawei from being part of the local 5G roll out. Johnson has apparently broken… Read more »
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