Tagged: australia

February 2, 2021 @ 9:21 pm By JD Alois  |  

SocietyOne, an Australian marketplace lending platform, says it has topped $1 billion in online lending in January. SocietyOne notes that it launched a secured lending product in December and said the month generated a record amount of originations. The secured product first completed a pilot… Read More

January 26, 2021 @ 11:53 am By JD Alois  |  

Birchal, the leading investment crowdfunding platform in Australia, has published a report on the entire sector of online capital formation as well as platform performance. The report tracks progress in the Australian “crowd-sourced funding” (CSF) industry (investment crowdfunding) via data aggregated by Birchal. The information… Read More

January 21, 2021 @ 9:25 pm By Samantha Hurst  |  

Australasia’s peer-to-peer lending marketplace Harmoney announced this week it has exceeded its loan origination forecasts for the six months to 31 December 2020 (on an unaudited basis), delivering total loan originations of NZ$194m for the period, 2% ahead of Prospectus forecasts. The marketplace also revealed… Read More

January 19, 2021 @ 7:17 pm By Omar Faridi  |  

A digital currency trader is reportedly seeking $250,000 in compensation from Westpac and ANZ. The crypto investor claims that there’s systematic discrimination being carried out by some of Australia’s largest banks, which has allegedly cost him his once highly-profitable business. Allan Flynn has initiated proceedings… Read More

January 7, 2021 @ 11:18 pm By JD Alois  |  

Limepay, a buy now pay later (BNPL) provider, has been selected by Domain (ASX:DHG)  – an Australian property marketplace – to provide credit services with a new product called “MarketNow” according to a note from the company. MarketNow Payments Pty Ltd is a joint venture… Read More

January 4, 2021 @ 9:14 am By Samantha Hurst  |  

Brighte, an Australia-based green energy fintech, recently announced it secured $100 million through its latest investment round. According to various media outlets, the round was led by Grok Ventures, the investment fund of Mike and Annie Cannon-Brookes. Founded in 2015, Brighte describes itself as a… Read More

December 30, 2020 @ 2:24 am By Omar Faridi  |  

Payments platform Adyen (AMS: ADYEN) reveals that Kogan.com managed to increase conversions while saving time and money by simplifying their payments process with Adyen. Kogan.com listed on the ASX back in 2016. It’s Australia’s “number one” purely online retailer with over 2.4 million customers. Kogan’s… Read More

December 23, 2020 @ 7:58 pm By JD Alois  |  

Equitise, one of the first platforms to receive an Australian retail crowdfunding license back in 2018, has shared some data platforms for platform performance for 2020.  As we all know, 2020 was a challenging year as COVID impacted all industries to varying degrees. But like… Read More

December 21, 2020 @ 9:27 pm By Omar Faridi  |  

Grant Halverson, CEO and MD at McLean Roche Pty Ltd, has noted that Fintech-related risk has increased dramatically this year and has been “aided by ‘free’ central bank money, exuberant VCs, private equity and run away share markets.” Halverson pointed out that Australian Buy Now,… Read More

December 20, 2020 @ 5:27 pm By Omar Faridi  |  

As the price of Bitcoin (BTC), the flagship cryptocurrency, surpasses its previous all-time high (and recently breaking past the $24,000 mark), a new report reveals that “attitudes” toward the digital asset are “improving” with nearly one in five or 20% of Australians now “owning some”… Read More

December 17, 2020 @ 3:21 pm By Samantha Hurst  |  

Openpay Group Ltd (ASX: OPY), an Australia-based Buy now, pay later (BNPL) provider announced on Wednesday it has commenced the launch of its operations in the US market.  Openpay describes itself as a fast-growing, and highly differentiated player in global BNPL payment solutions. The provider… Read More

December 16, 2020 @ 7:50 am By Omar Faridi  |  

Australian neobank Xinja had been working on finalizing a $433 million investment deal from Dubai’s World Investment Group. However, the digital challenger will now be closing customer accounts and returning its banking license. Xinja’s management noted that they will be refunding customer savings. The Fintech… Read More

December 15, 2020 @ 11:59 pm By Omar Faridi  |  

Paul Bassat, co-founder and Partner at Square Peg Capital Pty., an established Australian VC firm, recently talked about the company’s local and international investments amid the COVID-19 pandemic. Bassat revealed that major Australian pension funds believe that the country’s first recession in around 30 years… Read More

December 11, 2020 @ 7:19 pm By Omar Faridi  |  

Global money transfer service Azimo has teamed up with payments focused Fintech firm dLocal in order to allow migrant workers based in Europe and Australia to send funds to almost any bank in Colombia, which reportedly includes Banco de Bogota, Banco de Occidente, and Davivienda…. Read More

December 2, 2020 @ 10:47 pm By JD Alois  |  

Australia reported better than anticipated GDP numbers this week with growth coming in at 3.3% in the September quarter, topping expectations of around 2.5%. The good news helped to provide some hope for the COVID battered economy. Speaking in Canberra, Philip Lowe, Governor of the… Read More

December 1, 2020 @ 7:37 am By Omar Faridi  |  

Fintech Unicorn TransferWise has reportedly managed to acquire a restricted banking license in Australia. The leading money transfer service provider has been approved to gain direct access to Australia’s real-time payment system. The permit has been issued by Australia’s Prudential Regulatory Authority. Under the license,… Read More

November 30, 2020 @ 9:36 pm By JD Alois  |  

Payments Fintech Limepay has raised $21 million in what is said to be a pre-IPO funding round. Investors included current backers as well as new high net worth and institutional investors. Ord Minnett acted as lead manager, supported by Prime Financial as corporate and financial… Read More

November 30, 2020 @ 3:30 pm By Samantha Hurst  |  

Australia’s marketplace trade credit platform Marketlend recently announced it has expanded its Asian division by appointing Andrew Ross to lead origination and insurance endeavors for Marketlend throughout Asia. Ross will notably assist Marketlend to expand its presence in trade commodities, insured backed discounted trade credit… Read More

November 28, 2020 @ 1:54 pm By Omar Faridi  |  

OwnHome, the recent winner of Xccelerate2020, the startup competition that’s managed by the Commonwealth Bank of Australia’s Fintech incubation division X15ventures, has reportedly received $150,000 in capital after grabbing the number one spot in the contest. Over 80 different startups had applied to take part… Read More

November 24, 2020 @ 8:12 am By Omar Faridi  |  

Ian Liddell-Grainger, who’s Chair of the All-Party Parliamentary Group on Open Banking and Payments in the UK, notes that Britain’s financial technology industry has been expanding rapidly with emerging Fintechs such as Monzo, Starling, Revolut and TransferWise. Ian points out that these companies are turning… Read More