Small business lender will disappear from the ASX within months following a $74 million takeover bid from the Melbourne-based Salter Brothers Tech Fund. While the offer of $0.45 cents a share is a 22% premium on Prospa’s (ASX:PGL) closing price of $0.37 cents on Monday, it’s a far cry from when the business listed at… Read more »
Online retailer Kogan.com is back in the black and will pay its first dividend in three years after posting a net profit of $8.7 million for the half-year (1h24) to December 31. It’s a turnaround of more than $30 million on the $23.8 million half-yearly loss 12 months ago and comes despite a 9.9% fall… Read more »
About this time four years ago, China-based analyst and short-seller J Capital took its third stab at ASX-listed WiseTech Global with a report headlined “WiseTech may be the first corporate death from Covid19”. This week the logistics software company (ASX:WTC) was very much alive and kicking with its share price hitting an all-time high, above $90,… Read more »
The cofounder of ASX-listed business lending bank Judo, Joseph Healy, is stepping down as CEO after seven years at the helm. He’ll hand the reins over to the bank’s long-term deputy CEO and chief relationship officer, Chris Bayliss, next month. The news came as Judo (ASX:JDO) announced its half-yearly results (1H24) to the end of… Read more »
WiseTech Global founder and CEO Richard White has returned to his rock n roll roots investing $11 million in ASX-listed music company, Vinyl Group (ASX: VNL) as part of a deal to acquire Australia’s largest youth publisher The Brag Media, publishers of local editions of Rolling Stone and Variety. The billionaire, who made his fortune… Read more »
Listed fintech Identitii (ASX: ID8) has sold nearly half its stake in its payments subsidiary Payble for $1 million, alongside a $2.5 million raise for the startup. Identitii sold 48% of its Payble shareholding to OIF Ventures for $1 million. The Sydney VC also tipped $2.5 million in additional capital into the fintech, founded in… Read more »
Brisbane lending fintech WLTH has raised $14 million alongside acquiring home loan manager Mortgage Mart. The funding came from Melbourne-based healthtech-focused investor Rajomon and ASX-listed PNG digital lender Kina Bank (ASX:KSL). WLTH CEO and cofounder Brodie Haupt has put the capital to immediate use as part of his ambition to build Australia’s leading digital lender,… Read more »
ASX-listed Earlypay is acquiring invoice financing fintech Timelio in a deal that delivers a major haircut for the startup’s investors. The Melbourne fintech provides invoice and trade financing to Australian SMEs, but appears to have been on a downward trajectory for more than 12 months. Cofounders Charlotte and Andrew Petris left Timelio in mid-2022. Charlotte… Read more »
ASX-listed semiconductor business Weebit Nano is adding entrepreneur Naomi Simson to its board as a non-executive director (NED). Simson, who founded online experiences marketplace RedBalloon in 2001, is already busy as a company director, sitting on several boards, including Big Red Group, RedBalloon’s parent company, as well as Australian Payments Plus, Colonial First State, University of… Read more »
Former Wisr CEO Anthony Nantes is facing criminal charges, the ASX-listed fintech has revealed, just days after it sacked him as CEO, with his brother and the company’s chair, John Nantes, taking a two-month leave of absence to avoid any perceived conflict of interest. In a market update on Monday, the Wisr (ASX: WZR) board… Read more »
Shares in online retailer Kogan.com fell nearly 14% in early trade on Tuesday after the company revealed sales had fallen 28%, revenue dropped 32% and the business posted a 26% fall in gross profit for the 2023 financial year. The statutory net profit after tax (NPAT) loss was $25.9 million an improvement on FY22’s $36.2… Read more »
While the failure of online retailer Brosa was a $4.5 million hit to the bottom line of ASX-listed venture capital firm Bailador Technologies Investments (ASX: BTI), the sale of healthtech startup InstantScripts was a massive win for investors in a difficult 12 months revealed in the company’s annual results today. Ironically, it was another ASX-listed… Read more »
ASX-listed jobs marketplace is looking to ramp up its UK business in a deal with leading TV station Channel Four. The broadcaster’s VC arm, 4 Ventures, Britain’s leading media-for-equity investor, is tipping in $6.5m million (£3.5m) in value for a 20% stake in Airtasker UK, the company’s UK subsidiary. Channel 4, which gave the world… Read more »
ASX-listed jobs marketplace Airtasker will have its first female board leader with Cass O’Connor stepping into the chair role next month as James Spenceley departs after eight years. Spenceley, the founder of telco Vocus, is a prolific VC investor and North Sydney councillor and more recently founded humanitarian organisation Aus Ukraine Aid, was a seed… Read more »
ASX-listed biotech Emyria(ASX: EMD), which is developing psychotherapy treatments using MDMA (aka ecstacy) and psilocybin (aka magic mushrooms), has raised $2.5 million in share placement backed by existing investor Andrew Forrest through the healthtech fund Tenmile, part of his private investment group, Tattarang. The $2.5 million placement was jointly led by Perth’s Sixty Two Capital… Read more »
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