Sydney-based materials technology company Xefco is launching a joint venture company to produce revolutionary face masks with the ability to kill the Covid-19 virus within minutes. Xefco developed masks coated in an ultra-thin layer of copper in a collaboration with Deakin University. Studies by the Doherty Institute found that the patent-pending technology has the ability… Read more »
ASX-listed voice data company Dubber (ASX: DUB) has acquired Brisbane tech startup Notiv in a deal worth $6.6 million. The M&A deal will see Dubber accelerate its artificial intelligence program and capabilities. Notiv was founded by tech industry veterans Chris Raethke, a BugCrowd co-founder, and Dr Iain McCowan in 2018 to improve meeting note taking.… Read more »
Australian digital broker Stake is turning its attention from Wall Street to the local bourse, launching a beta version of its trading platform for the ASX. The fintech has also launched a viral referral campaign among users, offering free ASX trades until the end of the year. People who sign on are put on the… Read more »
Raiz Invest founder and Group CEO, George Lucas appears to be locked in a power struggle with his own board and is seeking to remove three of the company’s four Non-Executive Directors, including chair Kevin Moore. The listed fintech’s board issued a statement late last week saying it had received notice from Lucas through his… Read more »
ASX-listed PropTech Group (ASX: PTG) has enlisted the support of fintech startups to build a buy now pay later (BNPL) real estate play. The joint venture project, called PropPay, is a payments platform that will allow real estate agents and third-party platforms to offer payments and solutions to their customers for property-related services in Australia… Read more »
ASX-listed BNPL Afterpay helped generate an impressive $21 billion in sales in FY21, up 90% on the previous year, thanks to 16 million customers. But the company also did a stellar job growing its losses, which jumped 600%, from a $19.8m statutory loss in FY20 to $156.3 million last financial year. With a $39 billion… Read more »
Ecommerce retailer Kogan.com saw its shares fall nearly 16% after the company reported an 87% drop in net profit after tax in the 2021 financial years to just $3.5 million. Kogan shares (ASX: KGN) lost $2.07 to close at $11.06, after the company reduced margins and ramped up marketing to shift an excess of stock.… Read more »
● 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 »
Andrew Bassat’s Seek Investments has led a $40 million series A for online disability services platform, Hireup. Hireup helps people with disabilities find, hire and manage their own support workers. The strategic backing by Seek Investments for a minority stake, along with support from existing shareholders, will help the six-year-old business scale nationally. The Myer… 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 »
ASX-listed business accounting platform Xero is taking on Google and Apple at their own game, launching an app store selling Xero-connected apps. The Xero App Store lets small businesses, accountants and bookkeepers purchase apps to help run their companies, and went live last week. Xero app partners in Australia, United Kingdom and New Zealand now… Read more »
The founders of Wisr, Sythetix and Zip are among the backers in a $2.3 million raise for investment technology startup Fresh Equities. The round was led by Archangel Ventures, and includes Flying Fox Ventures. Zip co-founders Larry Diamond and Adam Finger, Wisr CEO and founder Anthony Nantes, and Synthetix Coin founder Kain Warwick, are now… 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 »
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