piggy bank
Funding

Fintech Alex banks $20 million series C

- September 16, 2021 2 MIN READ

Digital bank Alex has raised $20 million in a series C that values the neobank at more than $120 million The raise came from existing shareholders and new investors, including Washington H. Soul Pattinson, Regal Funds Management, Wunala Capital, and SG Hiscock & Company, topping up the $34 million already raised. Founded in 2018 by… Read more »

piggy bank broken
Startup Daily on Ausbiz

Startup Daily TV: The threat to startups from ‘debanking’ – fintech’s cancel culture

- September 9, 2021 2 MIN READ

Debanking is a growing concern for fintech and cryptocurrency startups. If you’re not sure what the term means, it’s the fintech sector’s version of cancel culture.  It’s when a large financial institution withdraws banking services to a business for any number of reasons – perhaps commercial, or regulatory, such as compliance with counter terrorism financing… Read more »

Fintech

Australia has a new neobank for small business lending

- September 7, 2021 2 MIN READ

Emerging Sydney fintech Avenue Bank has been granted a restricted banking licence by the financial regulator APRA. The digital bank has been gearing up for this moment after raising $37 million in a series B round back in February. Veteran CBA exec George Confos was appointed Avenue CEO last year. The fintech previously raised $11.4… Read more »

real estate
News & Analysis

ASX-listed PropTech Group is plotting a real estate joint venture with fintechs for BNPL options

- September 3, 2021 2 MIN READ

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 »

Fintech

The RBA is working on a central bank digital currency with Malaysia, Singapore and South Africa

- September 3, 2021 2 MIN READ

Project Dunbar will develop prototypes for shared platforms that will enable international settlements with digital currencies issued by multiple central banks. A blockchain-based system will hopefully cut transaction costs and times. The results will feed into plans for global and regional platforms and the G20 roadmap on better cross-border payments. The Reserve Bank of Australia… Read more »

Simone Joyce
Fintech

Fintech Paypa Plane is bringing one of the biggest innovations to payments to life in a deal with Cuscal

- September 1, 2021 2 MIN READ

Queensland fintech Paypa Plane has signed a deal to bring one of the key innovations of the New Payments Platform Australia (NPPA) – pre-authorised real-time payments – to banking next year Paypa Plane’s agreement is with payments platform Cuscal to launch PayTo in mid-2022. It’s one of the first examples of a bank and a… Read more »

money plant grow
Fintech

How open banking is helping fintechs thrive

- September 1, 2021 3 MIN READ

The fintech ecosystem is booming and is showing no signs of slowing down. Research from KPMG showed that, despite being in the middle of a pandemic, there has been an increase in the number of fintechs active in Australia, with 733 FinTechs recorded. Investment in Australia’s FinTech sector has also soared, with US$1.4 billion invested… Read more »

Dominic Pym
Mergers & Acquisitions

Bendigo & Adelaide Bank is acquiring Dominic Pym’s fintech, Ferocia, for $116 million

- August 16, 2021 2 MIN READ

ASX-listed Bendigo and Adelaide Bank will pay up to $116 million for Ferocia, the Melbourne fintech co-founded by Dominic Pym and Grant Thomas. Ferocia has been behind Bendigo e-banking app and internet banking platform for nine years and three years ago, Bendigo partnered with Pym and Ferocia to launch the neobank Up. The 100% acquisition… Read more »

Fintech

Fintechs scored a staggering $133 billion in investment globally so far this year

- August 10, 2021 3 MIN READ

Fintech is hot with venture capitalists globally, with investment in the sector hitting US$98 billion (A$133bn) in the first half of 2021 according to global advisory firm KPMG. The company’s bi-annual Pulse of Fintech report on investment trends found a US$10.9bn jump in investment on H1 FY20, including M&A, private equity and VC. Australian fintech… Read more »