Xinja
Fintech

Xinja is officially no longer a bank

- March 1, 2021 < 1 MIN READ

Xinja is no longer a neobank. Despite last minute efforts by a group of the company’s shareholders pushing for the fintech to keep its banking licence, after it was the startup’s most valuable asset, the financial regulator, the Australian Prudential Regulation Authority (APRA) revoked Xinja’s licence as an authorised deposit-taking institution (ADI) on Friday. The… Read more »

Fintech

Westpac teams up with lending fintech SocietyOne for digital banking play

- February 23, 2021 2 MIN READ

One of Australia’s original fintechs, SocietyOne, the peer-to-peer lending marketplace, has joined Afterpay on Westpac’s new digital banking services platform, 10X. Westpac’s digital banking services will be available to SocietyOne customers in the second half of 2021, and the bank has been backing the fintech since 2014 through its VC fund, Reinventure. In October last… Read more »

Fintech

SME fintech Thrive just smashed crowdfunding records, raising $3 million in 3 days

- February 22, 2021 3 MIN READ

Thrive, a Melbourne-based fintech using artificial intelligence to automate banking, accounting, tax and lending for small-to-medium enterprises (SMEs), has closed its crowdfunding campaign after just 3 days, having raised a record $3 million. Thrive’s campaign launched on Birchal on broke multiple records when it went live last week, hitting $1 million towards the $3m target… Read more »

Fintech

86 400 sells to NAB, ending its neobank dream

- January 29, 2021 2 MIN READ

Big four bank NAB is taking control of neobank 86 400, just 18 months after the fintech launched. The proposed deal ends the “challenger bank” dream of British banking pioneer Anthony Thomson, co-founder of the UK’s Metro Bank and publicly-listed digital bank Atom, and CEO Robert Bell, a former ANZ Japan boss. It was only… Read more »

Fintech

CBA’s x15ventures buys hospitality platform Doshii

- January 28, 2021 2 MIN READ

The Commonwealth Bank venture scaling entity, x15ventures, has made its fifth acquisition in the 12 months since launching, adding hospitality platform Doshii to its portfolio. The cloud-based startup connects food apps with a venue’s point of sale system. The acquisition was announced at CBA’s 2021 technology update at the bank’s new tech hub at South Eveleigh,… Read more »

Fintech

Zip raised an extra $26.7 million from its eager shareholders

- January 18, 2021 < 1 MIN READ

Buy-now-pay-later fintech Zip has nearly doubled the amount it raised in its Share Purchase Plan (SPP), issuing more than 10 million new shares worth $56,739,524. Zip (ASX:Z1P) set out to raise $30 million through the SPP, but also accepted an extra $26,739,524.95 in oversubscriptions from eligible shareholders, who could subscribe for up to $30,000 worth… Read more »

Fintech

Neobank Xinja is shutting up shop

- December 16, 2020 4 MIN READ

Xinja’s neobank adventure is over after just three years, with the fintech startup announcing it will hand back its banking license. The company hopes to continue with its US share trading platform, Dabble “should circumstances allow”, but that project has already been delayed indefinitely. The bank says customers won’t be able to put money in… Read more »

Fintech

BNPL Zip just cut Latitude’s lunch at Harvey Norman

- December 15, 2020 < 1 MIN READ

ASX-listed buy-now-pay-later fintech Zip Co. is moving into territory recently claimed by rival Latitude Pay, announcing it will offer it Zip BNPL product at Harvey Norman, Domayne and Joyce Mayne franchisee stores. Co-founder and COO Peter Gray said the partnership delivers on Zip’s strategic vision. “We are thrilled to partner with such iconic brands. We… Read more »

Fintech

Humm teams up with fintech Douugh for US BNPL tilt

- December 1, 2020 2 MIN READ

The former Flexigroup, now rebranded as Humm, the name of its BNPL product, is launching a US line of credit, marketed as a BNPL solution in the highly competitive US market in a joint venture with fellow ASX-listed fintech Douugh. The proposed JV will result in “Douugh powered by humm” as a “BNPL” solution involving… Read more »