● Revenue of $26.6M up 38% on FY20 ● GMV of $153.1M, up 35% YoY ● Underlying pro forma EBITDA of $0.0m compared with $(4m) in FY20 ● Positive operating cash flow of $5.5m, ahead of prospectus forecast of $0.1m Casual jobs marketplace Airtasker (ASX: ART) has posted a 38% jump in revenue for… Read more »
ASX-listed Bendigo and Adelaide Bank will pay up to $116 million for Ferocia, the Melbourne fintech co-founded by Dominic Pym and Grant Thomas. Ferocia has been behind Bendigo e-banking app and internet banking platform for nine years and three years ago, Bendigo partnered with Pym and Ferocia to launch the neobank Up. The 100% acquisition… Read more »
ASX-listed consumer lender Latitude Group Holdings Ltd (ASX: LFS) is planning to buy three-year old Melbourne fintech Symple Loans for $200 million. The shares and cash deal – 38.46 million Latitude shares at $2.60 per share and $100 million in cash – will see Symple become the lending platform for all Latitude personal and auto… Read more »
The A$39 billion (US$29 billion) that Twitter founder Jack Dorsey’s digital payments company Square is paying to acquire Australian upstart payments outfit Afterpay is the biggest takeover deal in Australian corporate history. It surpasses the A$32 billion European commercial real estate giant Unibail-Rodamco agreed to pay for Frank Lowy’s Westfield Corporation in 2017. The deal… Read more »
Jack Dorsey’s payments platform Square is buying ASX-listed Australian fintech Afterpay Ltd (ASX: APT) in a deal worth US$29 billion (A$39bn). Anthony Eisen and Mick Molnar, co-founders of the buy now, pay later (BNPL) platform will join Square when the deal goes through early in 2022. They will help lead Afterpay’s respective merchant and consumer… Read more »
Sales at ASX-listed buy now pay later (BNPL) fintech Afterpay passed $20 billion a year ahead of schedule. The company’s (ASX: APT) continued astonishing growth, revealed in the 2021 financial year figures today, comes as the fintech announced a proposed sale and merger with US-listed payments company Square for A$39 billion. Afterpay posted FY21 underlying… Read more »
US-listed small business software company Bill.com (NYSE:BILL) is acquiring Australian SMB fintech Invoice2go for US$625 million (A$850m). The deal has been approved by the boards of both companies and is expected to close by the end of 2021, subject to receipt of regulatory approvals. The acquisition cost is split between 75% in Bill.com common stock… Read more »
Shares in BNPL Zip crashed nearly 8% today after the company released its Q4 trading update. The fintech (ASX: Z1P) painted a rosy growth picture, but analyst nemesis UBS said the 4Q volumes “were below expectations” resulting in a “significant volume miss” compared to forecasts, with US momentum starting to slow. Zip closed at $6.99,… Read more »
PayPal’s AfterPay-copycat product launched in Australia today and the expected, yet sudden news sent the value of ASX-listed buy now, pay later shares plunging. The US payments giant’s ‘Pay in 4’ option is a direct copy of the AfterPay model, but with a crucial difference to the Australian fintech’s version: PayPal won’t charge late fees.… Read more »
There’s some relief for investors in Youfoodz Holdings Ltd today following a takeover bid by German-owned meal kit delivery rival HelloFresh. Youfoodz (ASX: YFZ) shares have jumped 77% to $0.902 cents following the offer at $0.93 per share in cash by way of a scheme of arrangement. The company said it has entered into a… Read more »
A takeover bid for ASX-listed online car sales venture iCar Asia by rival Singaporean car e-commerce platform Carsome has pushed the shares up more than 41% in early trade today. The non-binding acquisition proposal from Carhome at $0.55 cents a share pips a previous offer last year at $0.50 cents from China’s Autohome. iCar Asia… Read more »
US technology workforce development company Pluralsight has closed its acquisition deal for online learning startup A Cloud Guru. The $2 billion deal for the London-based startup, which began life in 2015 in a Melbourne bedroom as the vision of brothers Sam and Ryan Kroonenburg, is one of Australia’s biggest M&A tech deals. Sam, the company’s CEO,… Read more »
Australian investors bought the rumour today, with shares in buy-now-pay-later company Zip jumping 13.7% on media reports that Klarna, the 1000lb Swedish gorilla in the BNPL space, had taken a holding in the Aussie fintech. Zip (ASX:Z1P) shares closed Thursday trade at $8.78, having startup the day at $7.70, giving the company a market capitalisation… Read more »
Small business transaction financing fintech Butn (ASX:BTN) went nowhere for investors on its ASX debut today with around 2% – 2.5 million – of the company’s shares traded before it, unusually, closing its first day of trade at the IPO price. Having raised $20 million at $0.50 a share for an indicative market capitalisation of… Read more »
Caravan rental platform Camplify listed on the ASX on Monday after raising $11.5 million in an Initial Public Offer. But despite starting the day with good news, upgrading its prospectus forecasts for gross transaction volume (GTV) and revenue, and seeing its listing price of $1.42 rise to $1.50 in intraday trade, shares in the Newcastle-based business… Read more »
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