fintech Archives

Australia wants to regulate Apple and Google Pay, and digital wallets like it does credit cards

Casey Tonkin - October 12, 2023 2 MIN READ

The Reserve Bank of Australia (RBA) would be given expanded regulatory powers over bring digital wallets, buy-now-pay-later (BNPL) companies, and crypto assets under proposed reforms to national payments systems legislation published this week. In a statement, Treasurer Jim Chalmers said the reforms “[address] the risks posed by new digital payments services, which are currently unregulated, to… Read more »

Funding

Fintech tikpay pockets $1.6 million pre-Seed round to transform transport ticketing

Startup Daily - September 19, 2023 2 MIN READ

Melbourne fintech tikpay has raised $1.6 million in a pre-Seed round ahead of the launch of its pioneering account-based ticketing (ABT) and payments platform. The round was led by AfterWork Ventures and Black Nova VC with participation from Investible, Func Ventures, Metagrove Ventures, and two transport industry insiders. While Sydney commuters have been able to… Read more »

Business

Antler-backed shares-for-shopping fintech Upstreet is winding down

Simon Thomsen - September 12, 2023 2 MIN READ

Sydney fintech Upstreet, an app that enables shoppers to earn fractional ASX shares from their spending, is shutting down, less than 18 months after banking $3 million The closure comes just a fortnight after the fintech marked its fourth anniversary on social media, having raised nearly $5 million in its lifetime. While the Upstreet website… Read more »

Fintech

Buy now pay later is turning into a massive problem, rather than solution, for younger New Zealanders, trapping them in debt

Aaron Gilbert & Ayesha Scott - September 7, 2023 4 MIN READ

There are few stores without an Afterpay logo displayed on the door, or that don’t offer Laybuy at their online checkout. And these schemes are particularly popular with younger consumers. But what price might these buyers be paying for the conveniences of buy now, pay later? Our new research investigated how young New Zealand adults… Read more »

Scalapay cofounder Johnny Mitrevski with Abbl cofounders Lucy Timpano and Phil O’Shea

Business

Wollongong fintech Scalapay launches $10,000 scholarship, with brewery software startup Abbl as the first recipient

Simon Thomsen - September 6, 2023 2 MIN READ

Pioneering brewery management software start-up Abbl is recipient of unicorn status Scalapay’s inaugural $10,000 Scale Up Scholarship Quiet Australian fintech Scalapay has launched a new $10,000 scholarship program to support founders as they take their startup to the next level. The Wollongong-headquartered buy now pay later (BNPL) became a $1 billion+ valuation “unicorn” in 2021 after… Read more »

Waddle cofounders Nathan Andrews and Simon Creighton.

Fintech

CBA’s venture arm, X15, takes invoice lending fintech Waddle off Xero’s hands

Simon Thomsen - September 6, 2023 2 MIN READ

Small business invoice lender Waddle is getting new parents, with the Commonwealth Bank taking the fintech off Xero’s hands, three years after the ASX-listed accounting platform acquired the Sydney scaleup in an $80 million deal. Waddle, co-founded in 2014 by Simon Creighton and Nathan Andrews, makes it easier for banks and fintechs to lend to… Read more »

Fintech

Financial services minister Stephen Jones on the role of fintechs in stopping scams

Stephen Jones - August 31, 2023 4 MIN READ

Anyone who has heard me speak over the year and a bit since I became the Minister will have heard me talk about scams. And in particular, we believe the Consumer Data Right can be used to make a real, lasting difference. Scammers are causing untold misery across the country. Conservative estimates tell us that… Read more »

ASX

ASX-listed Wisr terminates CEO, with his brother taking leave as the fintech’s chair

Simon Thomsen - August 23, 2023 2 MIN READ

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 »

Business

Social impact fintech Artspay helps artists profit from its success

Simon Thomsen - August 9, 2023 2 MIN READ

Impact startup ArtsPay has backed several arts organisations and artists through its new charitable wing, The ArtsPay Foundation, with a series of small grants. In a sign of the need and demand from the cash-starved sector, there were more than 1,200 applications for the grants program with two small arts organisations and seven artists receiving… Read more »

Driva cofounders Will Brown and Scott Montarello

Business

Fintech Driva cracks Carsales deal on loans for private vehicles

Startup Daily - August 4, 2023 2 MIN READ

Personal lending fintech Driva has landed a multi-year partnership with leading vehicle marketplace Carsales.com. The Carsales (ASX:CAR) partnership will see Driva offer personalised finance options next to all privately sold vehicles, with options to pre-qualify, apply and get pre-approved for finance. Carsales executive GM Matt Earle said the deal will mean around 45% of the automobile… Read more »

People

Fintech Australia chair Simone Joyce is US-bound with her payments startup Paypa Plane

Simon Thomsen - July 26, 2023 < 1 MIN READ

Paypa Plane cofounder and CEO Simone Joyce is heading to the US with her family to put her fintech front and centre of banking and payments reforms in North America. Joyce, who is also chair of industry group Fintech Australia, has been at the forefront of Australia’s shift to real time payments and the introduction… Read more »

Thirdroc cofounders Shivnil Maharaj and Ritesh Nain

Antler Australia

Antler Investor Memo Series: Fintech ThirdRoc is transforming credit risk analysis in emerging markets

Startup Daily - July 21, 2023 4 MIN READ

Early stage investment company Antler Australia recently backed a new cohort of startups as part of its ongoing program to build great local tech companies. Startup Daily is sharing the details of each venture in the “Antler Investor Memos” series, which is designed to give you a quick, sharp understanding of the startups and people… Read more »

Funding

Small business lending fintech Lumi raises $15 million

Startup Daily - July 20, 2023 2 MIN READ

Small business alternative lender, Lumi, has raised $15 million with Harel Insurance and Finance Group signing on as the fintech’s newest investor. Harel is Israel’s largest insurance group and listed on the Tel Aviv Stock Exchange. Existing backers, including the private investment arm of Perennial as well as Melbourne’s Josh Liberman Investment Group, Arbel, and… Read more »

Verve Super co-founders Alex Andrews, Christina Hobbs and Zoe Lamont

Funding

Women-focused super fintech Verve raises $3 million pre-Series A

Simon Thomsen - July 20, 2023 2 MIN READ

Women focused superannuation fintech Verve has raised $3 million in a pre-Series A as it looks to expand its financial services offerings. Verve cofounder and CEO Christina Hobbs said the round, led by impact-focused family office Alberts, closed early. “Two years ago, we were asking investors to believe that there is a problem in financial… Read more »

Funding

Mortgage rate fintech Sherlok raises $3.4 million

Simon Thomsen - July 3, 2023 2 MIN READ

South Australian customer retention fintech Sherlok has raised $3.4 million to help mortgage brokers get better home loan deals for their clients. The round was led by VC Rampersand, with participation from Investible and its Club Investible syndicate, supported by Paloma and Common Sense Ventures. A pioneering use case of open banking from the three-year-old… Read more »