• Total originations of $80 million in 1Q21, up 265% on 4Q20 • Originations, excluding loans originated under the Government’s Guarantee Scheme, up 107% on previous quarter • Annual portfolio yield of 31.5% maintained • Significantly reduced loan deferrals with 1,681 accounts in ANZ on full or partial deferral Fintech Prospa (ASX: PGL) has seen… Read more »
Quarterly revenue of US$459.5 million, up 26% YoY Q1 IFRS operating margin of 3% and non-IFRS operating margin of 23% Q1 net loss of US$21.6m, compared to q1 FY20’s net income of $69.3m Australian software giant Atlassian has seen revenues jump 26% on 12 months ago in quarterly results for Q1 FY2021 that beat Wall… Read more »
Airwallex took out four major awards at the 2020 Finnies, including the top prize, Fintech Organisation of the Year and the People’s Choice Award. The company also received the Excellence in Payments award, while the Melbourne-based global unicorn’s co-founder and president, Lucy Liu, was named Emerging Fintech Leader of the Year. Airwallex and Athena Home… Read more »
Green is more than a corporate colour at Bunnings with the Wesfarmers-owned hardware chain announcing today that it will power its 260-plus stores Australia-wide with 100% renewable electricity by 2025. The move is part of a pledge to achieve net zero Scope 1 (direct) and 2 (indirect) emissions by 2030. Grocery retailer ALDI recently announced… Read more »
Paul Fletcher, the federal communications minister in charge of the $55.5 billion national broadband rollout, has evoked tractor production under the Soviets to defend the Coalition government’s seven-year handling of the NBN roll-out. In a speech to the CommsDay Summit yesterday, Fletcher evoked the spectre of “those apocryphal Japanese soldiers found in remote jungles in… Read more »
The 11 startups the UNSW Founders invested in as part of its 2020 10x accelerator program make their public debut over the coming week as part of two Demo Nights. The first, the 10x Demo Night, is this afternoon, October 28. The 2020 cohort ranges from a robotic gripper that mimics human dexterity, to a… Read more »
The $5 million COVIDsafe app downloaded by 7 million Australians has been able to find 17 unique cases on top of the infections already picked up by existing contact tracing in the six months since it was released. With advertising promoting the app as one of the cornerstones of contact tracing, alongside hygiene and social… Read more »
Workplace checklist app developer SafetyCulture has raised another $48.6 million just since six months after a $60.5 million round as early investors and staff cash in on the increasing worth of the company, now valued at more than $1.3 billion. Less than a third of the funds, $14 million, were invested as equity. Blackbird Ventures… Read more »
Melbourne-based social media venture Linktree has ended four years of bootstrapping, taking on $15 million (US$10.7m) in a series A round to expand globally. Linktree is a free tool to optimise internet presence for a celebrity, company or blogger, curating content across social media sites such as Instagram, Facebook, YouTube and Twitch, sending viewers to other… Read more »
Private equity-owned accountancy software firm MYOB is ramping up the practice management solutions side of its business with plans to acquire cloud-based software provider, GreatSoft. The move comes after MYOB recent took a majority stake in workforce management software Roubler. The acquisition, now under review by competition regulator the ACCC, will integrate GreatSoft’s cloud-based practice… Read more »
US-based buy-now-pay-later Zebit bucked the trend for soaring BNPL shares when it made its debut on the ASX today, losing around 34% of its listing price of $1.58 to close at $1.04. The online retailer (ASX: ZBT) with a BNPL offering, which targets “credit challenged” US consumers, raised $35 million in its IPO, but… Read more »
A $9 million project to make cheaper rooftop solar panels by replacing the silver in production with copper has attracted $8 million in funding. The cash for NSW startup SunDrive includes $5m Series A investment led by Blackbird Ventures and Grok Ventures, the family investment fund of Atlassian co-founder and renewable energy campaigner Mike Cannon-Brookes and… Read more »
Australian biotech venture Microbio announced this week that it has developed a new type of COVID-19 test with the potential to both determine if someone has the virus and also indicate whether they are infectious. The Brisbane-based startup says its InfectID-COVID-19-R test has been independently validated to identify the presence of the virus when still… Read more »
Expectations that Victoria would begin to ease lockdown restrictions in Melbourne earlier than the planned have been put on hold by Premier Daniel Andrews as the state deals with a minor Covid-19 outbreak in the city’s Northern metro area. Andrews labelled it a “cautious pause”, but offered some hope that an announcement on easing could be… Read more »
39% of local fintechs have more than 500 paying customers, up from just 27% in 2019 72% of fintechs say the COVID-19 pandemic had a negative impact on their capital raising ability Payments, wallets and supply chain (30%) and lending (20%) are now the top two types of fintech services The Australian fintech sector… Read more »
Mike Cannon-Brookes backs $5 million series A for breakthrough solar cell startup SunDrive
Infection cases identified by the COVIDSafe app cost taxpayers $4 million each
Airwallex scoops the pool at The Finnies fintech awards
SafetyCulture just raised another $49 million so staff and investors can cash in on the unicorn’s growth
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