• Gross sales grew by more than 16% • Gross profit grew by more than 9% • Operating costs declined marginally • Cash at period end was $34.1 million Kogan.com Ltd (ASX: KGN) has defied tough retail conditions to post a record half-yearly result helped by its best-ever Black Friday and Boxing Day trading… Read more »
When bushfires ripped through communities over summer, the New South Wales Rural Fire Service smartphone app, Fires Near Me, became a crucial warning system for many holidaymakers and residents. It quickly became of Australia’s most downloaded apps, with more than two million users – and around 1.6 million downloads in the two months leading up… Read more »
Melbourne buy now, pay later (BNPL) fintech Openpay (ASX: OPY) became the last major startup listing for 2019, although initial trading wasn’t as auspicious as MoneyMe’s debut last week and Tyro in early December. Openpay raised $50 million issue at $1.60 per share for a market capitalisation of $150 million. Demand for the IPO exceeding… Read more »
Personal lender MoneyMe (ASX: MME) made a spectacular debut on the ASX on Thursday as the latest fintech to list in 2019. The Sydney app-based lender raised $45 million in its heavily over-subscribed IPO at $1.25 per share. The float gave the business a market capitalisation of $211.8 million and enterprise value of $175.3 million.… Read more »
SME payments fintech Tyro listed on ASX today after raising $287.2 million – $34 million more than planned in a “multiple times” oversubscribed IPO – at $2.75 a share, entering the unicorn club with a market cap of more than $1.37 billion. Tyro shares (ASX: TYR) began trading at noon today (AEDT), jumping as high as… Read more »
Atlassian boss Mike Cannon-Brookes had a nice little earner when SME payments fintech Tyro listed on the ASX at noon today. The shares soared in the first hour of trade from a listing price of $2.75 to $3.51, a 20% gain on paper for the company’s tightly held register of shareholders. By mid afternoon, the… Read more »
Aerometrex is expected to have a market capitalisation of approximately AUD$95 million when listed on the Australian Securities Exchange in early December. But demand for its 25 million IPO shares valued at $1.00 each has seen the initial offer close many times oversubscribed. Aerometrex Managing Director Mark Deuter said the explosive market interest stems from… Read more »
Buy-now-pay-later service Zip Co. (ASX: Z1P) is looking to raise $60 million from a share issue to fund its UK expansion and move into small business lending. The fintech announced the capital raise to the market this morning. $50 million will come from a non-underwritten placement to professional and sophisticated investors, with $10 million… Read more »
SME lender Prospa’s week from hell for its investors continues after the fintech announced on Monday that it would understood its prospectus forecasts for 2019. Here’s the chart, courtesy of CommSec, that tells the story. Prospa (ASX: PGL) shares are down another 6.38% in lunchtime trade on Thursday to $2.20. The Sydney fintech’s shares plunged… Read more »
Shares in Sydney fintech Prospa have plunged nearly 28% in early trade on Monday, to a record low of $2.79 after the company released a trading update that downgraded revenue expectations for the remainder of 2019, less than six months after its IPO. The market reacted savagely to news, wiping more than $1 off the… Read more »
Redbubble CEO Barry Newstead. Photo: supplied ASX-listed online marketplace Redbubble, which sells t-shirts, mugs and art by independent artists, has seen its revenue jump 37% to AU$70 million in the first quarter of FY2020, posting a massive turnaround in its profitability on 12 months ago. Shares in the business (ASX: RBL) have doubled in value… Read more »
Investors who backed medical technology company, Osteopore Ltd (ASX: OSX), which listed today, watched the company’s value go through the roof as the shares jumped by 300% in value and nearly a quarter of the 26.25 million shares issued changed hands. Osteopore 3-D prints “bioresorbable” implants for surgery that dissolve as the bone heals. … Read more »
A Nearmap image of Sydney Nearmap is is an Australian aerial imagery tech and location data company Revenue grew by 36% to to $90.2m last year thanks in part to US market growth The company posted a bigger-than-expected loss of nearly $15m Investors punished the company, pushing shares down 15% in early trade ASX-listed tech… Read more »
Afterpay Touch boss David Hancock received the Finnies award for FinTech Organisation of the Year last week. The buy now pay later fintech startup is seeking $300 million from the sale of 13.8m new shares at a 10% discount. A share placement plan with existing shareholder could raise up to $30m after that. Founders Anthony… Read more »
Prospa co-founders Beau Bertoli and Greg Moshal Fintech startup Prospa (ASX: PGL) has turned into a nice little earner for its key investors, AustralianSuper and Airtree Ventures, with shares in the online small business lender soaring 18% on debut on the ASX at noon today. The jump added $110 million to Prospa’s market cap after… Read more »
Kogan.com just had its best Christmas trading, but its shares are getting smashed as profit growth slows
Here's what Australian startup founders are expecting to see in tech in 2020
Shark Tank hit Rhinohide is now chasing $500k from crowdfunding
Fires Near Me, the bushfires app used by millions, is up for grabs as tech co Arq struggles to balance its books
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