Every Friday, our new weekly column talks to CEOs, founders and tech leaders about the benefits they’ve discovered from WFH in 2020. This week it’s Mario Hasanakos. co-founder of fintech Spriggy, the pocket money app and card that gives kids financial wisdom and independence, alongside parental oversight. “Covid-19 has put an enormous strain on so… Read more »
SME online lender Capify has raised $14 million in an equity round with the Goldman Sachs Merchant Banking Division continuing to back the fintech through its existing credit facilities. The investment – Capify’s first, having landed a $135 million credit facility from Goldman Sachs in 2019, marks a return to lending for the fintech after… Read more »
An Australian Government promise to pay its suppliers faster has led to a collaboration between an e-invoicing startup from South Australia and the federal Treasury. Based in Adelaide, South Australia, invoice delivery service provider Link4 will connect Treasury with the Pan-European Public Procurement Online (PEPPOL) network, allowing the government department to instantly receive invoices from… Read more »
Swedish buy now pay later (BNPL) fintech Klarna is now Europe’s most valuable fintech – the 4th most valuable globally – following a US$650 million equity raise that values the business at US$10.65 billion (AU$14.54bn). The latest valuation nearly doubles the US$5.5 billion valuation following a US$460 million raise in August 2019. The round was… Read more »
Active plans up 235% on 12 months earlier Active customers up 145% on a year ago Active merchants have grown by 48% relative Total Transaction Value in July 2020 was $24.0m, up 114% Revenue was $2.1m v $1.2m in July 2019, up 73% Buy now, pay later fintech Openpay Group Ltd has reported record sales… Read more »
The Commonwealth Bank (CBA) is using venture capital firms Square Peg Capital and Zetta Venture Partners to invest in startups, putting US$10 million (A$14m) each into the latest funds from the two VCs. Zetta is a US-based fund investing in artificial intelligence. In an update on the bank’s innovation program this week, CBA CEO Matt… Read more »
Western Australian mining magnate Andrew “Twiggy” Forrest is moving into the fintech space, backing consumer-to-business payments startup Azupay, taking an undisclosed majority stake through his investment company Tattarang. Azupay is the first and only to go live on the New Payments Platform (NPP), which is being implemented by the NSW Government’s Department of Customer Service.… Read more »
Investor lust for ASX-listed fintechs continued today with US-based Sezzle (ASX: SZL) skyrocketing more than 50% in Thursday morning trade before the ASX handed the stock a speeding ticket and placed it in a trading halt. While easing during lunchtime trade, Sezzle shares were at one stage up 54% to peak at $7.50 having started… Read more »
Buy now, pay later fintech Afterpay will raise $800 million in new equity, topped up to $1.05 billion with billionaire founders Anthony Eisen and Nicholas Molnar each selling down a 10% stake in their existing holdings in the company, worth $250 million in total, as part of the raise. Afterpay put its shares in a… Read more »
Australian consumers can gain access to their banking data from Wednesday, July 1, to potentially save money on the cost of financial services with the phased launch of the Consumer Data Right. All four major banks are required to share a customer’s data, when they request it. The reform gives fintechs the potential to find… Read more »
A former executive from Jack Dorsey’s payments company Square is launching a new payments and financial services fintech targeting business. Melbourne-based Zeller, founded by Ben Pfisterer and Dominic Yap, has landed $6.3 million in seed funding led by Square Peg Capital, which previously invested in fintechs such as Stripe, Airwallex, Prospa and Athena, alongside Apex… Read more »
Andrew Wilson is co-founder of Sydney fintech Nudge, which he bootstrapped with his brother to launch last year. When Covid-19 hit he hatched a plan called ‘Save Australia’ for his app, Nudge Saver, which helps people save for their financial goals. Nudge works with any Australian bank account and was recently selected to be part of… Read more »
Melbourne buy-now-pay-later startup Openpay’s stellar week continued on Thursday when the company raised an additional A$33.77 million through an oversubscribed local institutional placement. The raise comes in a week where Managing Director and CEO Michael Eidel announced the fintech had secured a UK funding facility for £25 million (A$46 million) for its British business, adding… Read more »
Judo Bank’s existing backers have stumped up $230 million in a third round capital raise that raises the neobank’s post-money valuation to more than AU$1 billion. The challenger bank targets lending to small to medium-sized enterprises (SMEs) and has now raised more than $770 million in capital since its launch in March 2018, including a… Read more »
FinTech Australia managing director Rebecca Schot-Guppy appeared before the Senate Select Committee on Financial Technology and Regulatory Technology last week. The committee is investigating the potential and opportunities in FinTech and RegTech for Australian business and consumers and initiatives to promote startups in the sectors. The committee is due to hand down its final report in… Read more »
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