ASX Archives

Health-tech startup MedAdvisor is looking to raise $45 million as it buys a US medication venture for $49 million

Simon Thomsen - November 2, 2020 2 MIN READ

Shares in ASX-listed MedAdvisor have been placed in a trading halt today with the health-tech venture announcing plans to acquire US-based medication adherence company Adheris for US$34.5 million (AU$49m), while also raising AU$45 million to fund the acquisition. The company’s seeking a minimum of AU$35m in funds through an institutional placement at $0.45 per share,… Read more »

ASX

Business lender Prospa’s latest results suggest small business is getting back on track

Simon Thomsen - October 30, 2020 3 MIN READ

• Total originations of $80 million in 1Q21, up 265% on 4Q20 • Originations, excluding loans originated under the Government’s Guarantee Scheme, up 107% on previous quarter • Annual portfolio yield of 31.5% maintained • Significantly reduced loan deferrals with 1,681 accounts in ANZ on full or partial deferral Fintech Prospa (ASX: PGL) has seen… Read more »

Fintech

Westpac has sold its 10% stake in Zip, banking a $300 million windfall

Simon Thomsen - October 22, 2020 < 1 MIN READ

Westpac Group has offloaded its 10.7% stake in fintech Zip Co Limited (ASX: Z1P) in a deal that should net the bank around $300 million in profit. The sale comes 24 hours after the bank announced a collaboration with Afterpay that will see the rival BNPL service offer a savings account and other cashflow management… Read more »

Startup Daily TV

Startup Daily TV: Zip CEO Larry Diamond on the fintech’s new ‘Tap & Zip’ account

Simon Thomsen - October 20, 2020 < 1 MIN READ

Fintech Zip (ASX: Z1P) announced the launch of a new virtual tap and go buy-now-pay-later credit card that can be used with Apple Pay and Google Pay to purchase products as part of a new partnership with Visa today. Called “Tap & Zip”, the fintech says the product reimagines instore BNPL, which is currently offered… Read more »

Fintech

Zip offers Google Pay and Apple Pay in new tap & go deal with Visa

Simon Thomsen - October 20, 2020 < 1 MIN READ

Sydney fintech Zip Co Ltd (ASX: Z1P) will let customers use Apple Pay and Google Pay to purchase products as part of a new virtual tap and go buy-now-pay-later (BNPL) credit card in a partnership with Visa. Called “Tap & Zip”, the fintech says the product reimagines instore BNPL, which is currently offered by just… Read more »

Fintech

Fintech Douugh’s reverse listing hits the ASX today

Simon Thomsen - October 6, 2020 2 MIN READ

Financial platform Douugh makes its ASX debut in a reverse takeover of suspended telco Ziptel. The former Ziptel will be resinstated for trading as Douugh (ASX:DOU) when the market opens for trading at 10am today. Financial reports lodged with the ASX ahead of the relisting reveal that Douugh lost $1.29 million in FY2020, down from… Read more »

ASX

MoneyMe shares jump after Westpac backs $167 million in cheaper warehouse funding

Simon Thomsen - September 29, 2020 < 1 MIN READ

Shares in fintech MoneyMe (ASX: MME) have jumped more than 12% in opening trade on Tuesday after the company announced a new $167 million warehouse funding facility led by Westpac, that will cut its funding costs by more than 50%. The company put its shares in a trading halt yesterday pending the announcement. The deal… Read more »

ASX

Afterpay shares plunge after CFO departs in a sea of red for ASX-listed BNPLs

Simon Thomsen - September 24, 2020 2 MIN READ

Shares in buy-now-pay-later fintech Afterpay (ASX:APT) are down more than 6% trade on Thursday after the company announced Chief Financial Offer (CFO) Luke Bortoli will step down after three years in the role. Rebecca Lowde, Chief Executive of ASX-listed Salmat, and the former CFO of fintech Bravura Solution, will become CFO on October 6. Afterpay… Read more »

ASX

US giant PayPal announced its move into BNPL and Australia fintech stocks are getting smashed

Simon Thomsen - September 2, 2020 2 MIN READ

The elephant entered the buy now, pay later (BNPL) room on Tuesday and the rockstar stocks of the ASX took a massive hit as a result. PayPal announced the launch of its ‘Pay in 4’ platform in the US, which mimics Afterpay’s 4 instalment solution. The announcements sent Australian-listed BNPL shares into a nosedive, with… Read more »

Topic

‘WE ARE THE VERB’: Afterpay’s sales and customers double, but it still posts a loss

Simon Thomsen - August 27, 2020 3 MIN READ

FY20 global Underlying Sales increasing 112% to $11.1 billion Run rate of over $15b per annum (based on Q4 trading). EBITDA $44.4m, up from Fy19’s $25.7m Net transaction loss $22.2m, down 48% on $42.8m in FY19 Gross loss as a % of underlying sales improved to 0.9% from 1.1% Underlying sales contribution from international markets… Read more »

Topic

Here’s what the market is expecting from Afterpay’s FY20 results today

Simon Thomsen - August 27, 2020 4 MIN READ

Buy-now-pay-later rockstar Afterpay (ASX:APT) releases its 2020 financial year results today. The company’s share price has been on a tear since it plunged to $8.90 on March 23 this year as uncertainty about the impact of Covid-19 hit markets. Last night it closed down slightly at $90.72 at Wednesday’s close, having hit yet fresh record… Read more »

Topic

Zip shares go on another tear on financing deal for small business

Simon Thomsen - August 26, 2020 2 MIN READ

BNPL fintech Zip is turning its attention to small business lending, launching Zip Business just 48 hours after rival Afterpay announced its European expansion plans. Zip shares have skyrocketed again, rising nearly 19% to $8.99 in the first 90 minutes of trade today, having started the week at $6.56. With its annual FY2020 results announced… Read more »

Topic

Xero shares hit $100

Simon Thomsen - August 25, 2020 < 1 MIN READ

When founder Rod Drury listed his cloud-based accounting platform Xero with an IPO on the New Zealand stock exchange in 2007, raising NZ$15 million, the company was less than a year old, had no sales and less than 100 customers. It had a market capitalisation of NZ$55 million. Analysts at the time joked that Xero… Read more »

Topic

Shares in BNPLs Zip and Afterpay surge on acquisition news ahead of their FY20 results

Simon Thomsen - August 25, 2020 2 MIN READ

ASX-listed buy-now-pay-later stocks continue to be catnip for investors with shares in Afterpay and Zip Co. both soaring to fresh highs on Monday following performance updates ahead of both companies releasing their FY2020 results on Thursday. Afterpay (ASX: APT) shares rose 4.79% on Monday to close a new record of $82.73 after announcing plans to… Read more »

Topic

Xero is getting into business lending, buying Sydney financing startup Waddle for $80 million

Simon Thomsen - August 25, 2020 2 MIN READ

Accounting software giant Xero Ltd is moving into lending to small business through invoice financing, announcing plans to acquire Sydney startup Waddle for up to $80 million. Xero (ASX: XRO) said the acquisition of the cloud-based lending platform aligns with its strategy to grow the small business platform and to address critical small business financial needs. “Waddle’s… Read more »