HUB24 (ASX: HUB) has ponied up with startup Reach Reach Alternative Investments with a strategic investment for a minority stake. The teams of the deal were not disclosed, but earlier this year Reach had been on the hunt for $3 million at a $15m valuation. The three-year-old Sydney fintech previously raised $2.2 million in a… Read more »
Consumer debt collection fintech InDebted has raised $50 million in a Series C that values the scaleup at more than $350 million The round was led by Airtree and supported by Australian Retirement Trust and new growth fund Premier Capital Partners. Existing shareholders Reinventure, Carthona and Perennial also chipped in. Indebted previously raised $22.5 million… Read more »
Cash management fintech Primary has raised $3.5 million in Seed funding to help small business puts its capital to better use. The round was round led by Carthona Capital, supported by local funds Macdoch Ventures, Archangel, AfterWork Ventures, and Ari Klinger’s No Brand, as well as Singapore’s Resolution Ventures. Carthona partner Damian Fox will join… Read more »
This year marks a decade of Stripe in Australia. The US global payments behemoth founded 14 years ago by Irish-American siblings John and Patrick Collison now services over 500,000 Australian businesses and has processed more than A$200 billion since landing here The Stripe World Tour rolled into Sydney recently to showcase the fintech’s products and users, and including a… Read more »
The promise of the Consumer Data Right (CDR) was a future where businesses are empowered to make informed, confident decisions based on a comprehensive understanding of their financial health. Yet, despite the significant potential of this initiative, its implementation has been mired in unnecessary complexity, lack of clear guidelines and the reluctance of traditional financial… Read more »
The amount of capital flowing into local fintechs is nearly double the known figures according to estimates from funding analytics firm Techboard, which has launched a new report into investment in the sector. Some of that funding includes millions into VC-backed startups with around $684 million in unannounced funding discovered alongside $769m in announced deals… Read more »
The job market is especially tough in fintech. July is always a relatively quiet period for hiring leadership positions in Australia as many companies navigate year end. Even so, the number of executive candidates either out of work or seriously looking is higher than at any point I can remember in the last two years.… Read more »
Indian venture fund Peak XV Partners (formerly Sequoia Capital India) has backed fintech Shift in a $35 million Series D. The VC previously led Shift’s $27 million C in February 2023 before its rebrand to Peak XV. Several existing shareholders were also part of the Series D equity round. The decade-0ld Sydney fintech provides offers… Read more »
A margin trading product offered by cryptocurrency exchange Kraken failed to meet its legal obligations under Australia’s Corporations Act, a Federal Court judge has ruled. The judgment hands a rare win to corporate regulator the Australian Securities and Investment Commission (ASIC) amid an ongoing focus on regulatory compliance in the crypto sector. Justice John Nicholas… Read more »
Next week, the Australian Parliament will cast a pivotal vote on advancing the Consumer Data Right (CDR) to Action Initiation. This decision could redefine consumer freedom and competition across the nation, making it one of the most significant moments in our history. What is Action Initiation? Action Initiation will enable consumers to take unprecedented control… Read more »
Artificial intelligence-based loans assessment platform Rich Data Co has topped up its Series B, nine months on, with another $9 million, this time from Acorn Capital, for a total raise of $37 million. The fintech banked $28 million last November in part 1 of its Series B, led by Westpac and Nasdaq-listed cloud banking firm… Read more »
A fintech tackling one of the toughest pain points of going on holidays – having to book so far in advance for cheaper fares, and finding the money at the time to do it – has raised one of 2024’s biggest Seed rounds, taking on its first external capital after six years of bootstrapping. The… Read more »
Business lending fintech Fundabl has raised $3.2 million in an equity round as it looks to increase its venture debt business as alternative capital for startups. Fundabl was founded by Ethan Singer and David Salkinder in 2021 before launching in March 2022, going on to raise $16 million in a mixture of equity and debt… Read more »
Investment fintech Blossom believes it’s on target for its goal of $100 million in funds under management (FUM) by the end of the year, having hit $75 million thanks to a new product targeting a 7% return. The fixed income app, launched in 2021 by siblings Gaby and Ali Rosenberg, has been able to lift… Read more »
Three years ago amid the BNPL goldrush, fintech Limepay was hoping to list on the ASX. It wasn’t to be for the white label buy-now-pay-later platform, founded in 2016, which billed itself as Australia’s first enterprise payments fintech. But Limepay, which rebranded in 2022 as April Solutions, will become a listed company after being swallowed… Read more »
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