The Commonwealth Bank is embracing cryptocurrencies, and will allow CommBank app customers to buy, sell and hold crypto assets. In the a game-changing move for the sector by the country’s biggest bank will see it partnered with crypto exchange Gemini – founded by the Winklevoss twins of Facebook fame – and blockchain analysis firm, Chainalysis.… Read more »
Carbon footprint tracking startup CoGo has partnered with the Commonwealth Bank (CBA) to help CBA customers track the carbon footprint generated by their spending. The feature will initially involve a trial of CommBank app customers able to view their carbon footprint and offset the previous month’s transactions by buying carbon credits. Following testing and further… Read more »
The Commonwealth Bank’s venture-scaling arm, x15ventures, has added a new proptech startup to its investment portfolio, taking a stake in the Antler-backed property management company :Different. Co-founded in 2017 by Silicon Valley entrepreneurs Mina Radhakrishnan and her husband Ruwin Perera, whose CVs include Google, Uber and other tech giants, :Different digitises a large slab of property… Read more »
The Commonwealth Bank’s new buy now pay later product, StepPay, went live today with CBA no doubt hoping plenty of its 4 million customers will give the app a crack. More than 86,000 CBA customers had pre-registered for it after the idea was announced in April. This is CBA’s first outright BNPL, and sits alongside… Read more »
Splashup, an ecommerce startup hoping to simplify online shopping and the comparison experience to find what customers want, has won the pitch competition by the Commonwealth Bank’s venture-scaling entity, x15ventures. Splashup co-founders Nathalie Rafeh and Vivek Bharadwaj will receive a $150,000 SAFE note as the winners of the Xccelerate21 program. Now in its third run,… Read more »
CBA’s venture-scaling arm, x15ventures, has singled out 5 startups to present for investment at its upcoming Pitch Day. The VC accelerator had more than 60 entrepreneurs apply for its Xccelerate21 program, which this year is looking for ideas around how retail customers shop, pay and are rewarded. Ten companies were chosen for this week’s initial… Read more »
The Commonwealth Bank has made a second major investment in a digital startup, investing $20 million in a series B round for electricity retailer Amber. The deal follows a $30 million investment by CBA for a 23% stake in e-commerce retail platform Little Birdie. The Amber investment gives CBA a 25% stake in the business.… Read more »
Digital wallets use has jumped 90% in a year, and the amount paid has risen 110%, pushing it towards becoming the most popular contactless way to pay according to new analysis from the Commonwealth Bank. Digital wallet usage is the 12 months spanning the coronavirus pandemic to March 2021 saw transactions rise from 36 million… Read more »
Australia’s biggest bank will take on fintech powerhouses such as Afterpay, Zip and Sezzle by launching its own Buy Now, Pay Later (BNPL) product within months. The Commonwealth Bank of Australia (CBA) will offer its own BNPL product to CBA customers from mid-2021 to use anywhere Mastercard payments are accepted. The move will be CBA’s… Read more »
The Commonwealth Bank is launching a CommBank Green Loan for its home loan customers to purchase and install renewable technology, offering an interest rate of just 0.99%. CBA Group Executive Angus Sullivan said the move was part of the bank’s commitment to net zero emissions by 2050. “The CommBank Green Loan offers an historically low… Read more »
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 »
Commonwealth Bank’s venture scaling entity, x15ventures, has made two key appointments, including its first non-executive, independent chairman in Ben Heap, while Jane Martino will become x15’s first external portfolio adviser. Heap is prominent in startups and investment, as founder of fintech VC fund H2 Ventures, having invested in more than 50 fintech start-ups over the… Read more »
An app to maximise your tax refund and a startup that wants to turn renters into homeowners are among four startups pitching for a $150,000 investment today as part of the x15ventures Xccelerate program. x15ventures is the Commonwealth Bank’s venture building entity and this is the second Xccelerate program following on from two sisters Frances… Read more »
The Commonwealth Bank has launched a near-identical “no interest” credit card just a day after NAB announced it was launching its flat fee StraightUp Card on Thursday. Aside from slightly different monthly fee rates, the only other key difference is that while NAB partnered with Visa, CBA’s “CommBank Neo” is a Mastercard product. Like StraightUp,… Read more »
The Commonwealth Bank’s VC fund, x15 ventures, is holding a second Xccelerate fintech pitch event, with the winning idea landing $150,000 from CBA. The virtual pitch on November 3-4, and applications for Xccelerate are open until September 27. You can apply here. The shortlisted startups will be notified by October 23. x15 ventures is running Xccelerate… Read more »
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