cba Archives

CommBank picks Seattle startup as winner of x15ventures accelerator program

Simon Thomsen - February 19, 2025 2 MIN READ

The Commonwealth Bank’s venture-scaling arm, x15ventures, has chosen a US-based data change management platform, Gable, as winner of its annual Xccelerate program. The startup has secured a SAFE Note investment and is actively exploring multiple partnership opportunities with CommBank. The three other finalists -vUS-based Cleric, local AI fintech Dragonfly Thinking and Eidiex – are also… Read more »

AI/Machine Learning

Your call is important to our chatbot: CBA looks to AI as customer service replacement

Denham Sadler, Information Age - September 17, 2024 3 MIN READ

The Commonwealth Bank (CBA) will test a generative AI-based chatbot that could replace its call centre staff as part of Australia’s largest financial institution’s expanded use of AI technology. On Tuesday, CBA announced it would become the first Australian company to use Amazon Web Services’ (AWS) P5s, which are based on Nvidia computer chips supporting… Read more »

Business

Fowl play: CBA-backed ecommerce site Little Birdie shuts down

Simon Thomsen - May 17, 2024 2 MIN READ

Little Birdie, the online retail marketplace developed by Catch founders Gabby and Hezi Leibovich, and backed with $30 million in pre-Seed funding from the Commonwealth Bank, has shut down. In an email sent to customers just after 5pm on Friday, May 17, the company said the retail product price comparison site has “paused operations”. “For… Read more »

Waddle cofounders Nathan Andrews and Simon Creighton.

Fintech

CBA’s venture arm, X15, takes invoice lending fintech Waddle off Xero’s hands

Simon Thomsen - September 6, 2023 2 MIN READ

Small business invoice lender Waddle is getting new parents, with the Commonwealth Bank taking the fintech off Xero’s hands, three years after the ASX-listed accounting platform acquired the Sydney scaleup in an $80 million deal. Waddle, co-founded in 2014 by Simon Creighton and Nathan Andrews, makes it easier for banks and fintechs to lend to… Read more »

Venture Capital

CommBank plants funding in $220 Series A for climate change investor Wollemi Capital

Simon Thomsen - July 17, 2023 3 MIN READ

A Sydney venture fund that co-led agtech startup Loam Bio’s huge $105 million round, has raised $220 million in a Series A. Sydney-based Wollemi Capital, founded in 2021, is the brainchild of former Macquarie Capital boss Tim Bishop and Boston Consulting Group’s Asian venture exec Paul Hunyor. The pair set out to raise $100 million,… Read more »

Accelerator

CBA’s VC accelerator is looking to back net-zero startups

Simon Thomsen - July 17, 2023 2 MIN READ

The Commonwealth Bank’s venture-scaling arm, x15ventures, is on the hunt for startups focused on net-zero carbon emissions for its 2023 cohort. Applications opened today, July 17, for x15’s annual Xccelerate program, which develops early-stage startups develop their ideas for corporate partnership. This year’s Xccelerate investment thesis is “helping advance Australia’s transition to net zero” and… Read more »

Cyber security

CommBank and Telstra team up to tackle phone scams

Simon Thomsen - March 28, 2023 2 MIN READ

The Commonwealth Bank (CBA) and Telstra have launched a pilot program to see if they can improve protection from phone scams, via an API. They’ve call the Telstra API Scam Indicator. It’s currently at proof-of-concept stage and to be piloted over the next few months. Early simulation results suggest it can help detect and prevent… Read more »

Fintech

CBA teams up with TAFE and Queensland unis to launch Brisbane tech hub

Simon Thomsen - December 6, 2022 2 MIN READ

The Commonwealth Bank has launched its third technology hub around Australia this year, teaming up with Queensland educators to set up shop in Brisbane’s CBD. CBA has partnered with The University of Queensland (UQ), Queensland University of Technology (QUT) and TAFE Queensland, to offer students and graduates the chance to join CBA’s Tech Associates and… Read more »

Fintech

The Commonwealth Bank’s US$300 million investment in BNPL Klarna has turned from golden egg to millstone

Simon Thomsen - November 1, 2022 2 MIN READ

Commonwealth Bank-backed fintech Klarna’s Australian foray is starting to look like a disaster for the Swedish buy now pay later startup. Banking Day reports that just two years after its launch, an EY audit of Klarna Australia’s CY2021 performance reveals a net loss of $56 million, with revenue falling 71% on its first year of… Read more »

Fintech

Fintech Paytron scores $250,000 from CBA’s x15ventures

Simon Thomsen - September 30, 2022 2 MIN READ

Sydney fintech Paytron has won the Xccelerate 2022 run by the Commonwealth Bank’s x15ventures, landing a $250,000 SAFE note. Paytron, a full-suite workflows and spend management platform, was chosen from four finalists focus on payments, including Cape, Persollo and YouPay, pitching to the investment committee last night. The deal with x15ventures gives the fintech access… Read more »

Accelerator

CBA’s VC arm, x15ventures, is looking for payments startups to back in its revamped Xccelerate program

Simon Thomsen - August 2, 2022 2 MIN READ

The Commonwealth Bank’s venture-scaling arm, x15ventures, has revamped its accelerator program, Xccelerate, and is now on the hunt for five early-stage fintech startups to back. While the three previous iterations of Xccelerate have seen x15ventures choose an winner ultimate winner to back – givvable and OwnHome in 2020, and Splashup last year – this time… Read more »

Fintech

CBA’s VC arm, x15ventures, takes on digital banking for children with a new financial app, Kit

Simon Thomsen - May 17, 2022 2 MIN READ

The Commonwealth Bank is expanding its children’s banking products with a new digital app as part of a wider digital strategy announced by CEO Matt Comyn. The range of initiatives the bank launched include a new low interest digital home loan at 2.14% for owner-occupiers. It’s also adding the CommSec share trading app to the… Read more »

Fintech

CBA takes minority stake in business payments fintech Paypa Plane ahead of PayTo roll out

Simon Thomsen - February 7, 2022 2 MIN READ

The Commonwealth Bank has taken a 20% stake in Brisbane fintech startup Paypa Plane for an undisclosed sum. Founded in 2018 by Simone Joyce and Jonathan Grant, Paypa Plane is a digital payments provider, building a bank-grade platform where traditional scheduled payments and payment initiation via the New Payments Platform (NPP) and PayTo, which is… Read more »

Other

CBA takes a minority stake in crypto exchange Gemini’s $550 million raise

Simon Thomsen - November 19, 2021 2 MIN READ

The Commonwealth Bank (CBA) has backed US cryptocurrency exchange Gemini in a US$400 million (A$500m) capital raise. It was Gemini’s first outside financing, and values the business, founded in 2015 by twins Cameron and Tyler Winklevoss, at US$7.1 billion. The round was led by Morgan Creek Digital with CBA taking a minority stake alongside 10T,… Read more »

Fintech

CBA’s X15ventures chips an extra $700,000 into on-time payments fintech Payble

Simon Thomsen - November 16, 2021 2 MIN READ

x15ventures, the Commonwealth Bank’s venture scaling arm, has tipped an additional $700,000 into its joint venture fintech Payble. The startup is a subsidiary of ASX-listed Sydney fintech Identitii (ASX: ID8), which uses blockchain and tokenisation to connect banks and businesses with the data for payments, in a joint venture with x15. Payble co-founder and MD… Read more »

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