Global payments platform Banked has tapped into Australian real-time payments with the acquisition of Waave, a fintech using the consumer data right (CDR) to offer a lower cost direct debit alternative to card payments. The sale, for an undisclosed sum, comes less than 18 months after Waave launched following a $4.7 million Seed round in April… Read more »
Mother-daughter duo Tandadzo (Tando) Matanda and Dr Margaret Matanda will step on stage founder at SXSW Sydney this Tuesday as the founders of fintech platform Musa. Musa is the world’s first intelligent venture assessment platform, tackling the funding process for startups and small and medium enterprises (SMEs). Musa Ventures equips founders with the digital tools… Read more »
Ah, LinkedIn. Twitter aside, you are by far the least intentionally funny social media site there is. And yet, you are a veritable treasure trove of useful articles and industry updates that none of us can be without.* Simultaneously managing to make me feel both multitudes better & worse about myself in an instant, you… Read more »
Athena Home Loans is now worth $310 million after REA Group (ASX:REA) unveiled plans to spend $62 million on a 19.9% stake in the fintech. The deal is being funded from the REA’s existing cash reserves and real estate giant will take two seats on Athena’s board. REA already has an existing relationship with the… Read more »
Global trading platform eToro is getting into the Australian superannuation business after acquiring the controversy-plagued investment app Spaceship Capital in a deal worth up to $80 million. The price is a blow to investors such as Airtree, which previously valued the fintech at more than $100 million. Investment in Spaceship has been opaque, but may… Read more »
HUB24 (ASX: HUB) has ponied up with startup Reach Reach Alternative Investments with a strategic investment for a minority stake. The teams of the deal were not disclosed, but earlier this year Reach had been on the hunt for $3 million at a $15m valuation. The three-year-old Sydney fintech previously raised $2.2 million in a… Read more »
Fintech WeMoney has launched a collaboration with Google to help Australians get their financial health in good shape before they try to borrow money. The financial wellness platform approached Google Cloud earlier this year for help to develop an AI-powered credit health education assistant. Called “WeMo” it’s designed to help people better understand and improve their… Read more »
Consumer debt collection fintech InDebted has raised $50 million in a Series C that values the scaleup at more than $350 million The round was led by Airtree and supported by Australian Retirement Trust and new growth fund Premier Capital Partners. Existing shareholders Reinventure, Carthona and Perennial also chipped in. Indebted previously raised $22.5 million… Read more »
Cash management fintech Primary has raised $3.5 million in Seed funding to help small business puts its capital to better use. The round was round led by Carthona Capital, supported by local funds Macdoch Ventures, Archangel, AfterWork Ventures, and Ari Klinger’s No Brand, as well as Singapore’s Resolution Ventures. Carthona partner Damian Fox will join… Read more »
This year marks a decade of Stripe in Australia. The US global payments behemoth founded 14 years ago by Irish-American siblings John and Patrick Collison now services over 500,000 Australian businesses and has processed more than A$200 billion since landing here The Stripe World Tour rolled into Sydney recently to showcase the fintech’s products and users, and including a… Read more »
The promise of the Consumer Data Right (CDR) was a future where businesses are empowered to make informed, confident decisions based on a comprehensive understanding of their financial health. Yet, despite the significant potential of this initiative, its implementation has been mired in unnecessary complexity, lack of clear guidelines and the reluctance of traditional financial… Read more »
The amount of capital flowing into local fintechs is nearly double the known figures according to estimates from funding analytics firm Techboard, which has launched a new report into investment in the sector. Some of that funding includes millions into VC-backed startups with around $684 million in unannounced funding discovered alongside $769m in announced deals… Read more »
The job market is especially tough in fintech. July is always a relatively quiet period for hiring leadership positions in Australia as many companies navigate year end. Even so, the number of executive candidates either out of work or seriously looking is higher than at any point I can remember in the last two years.… Read more »
Indian venture fund Peak XV Partners (formerly Sequoia Capital India) has backed fintech Shift in a $35 million Series D. The VC previously led Shift’s $27 million C in February 2023 before its rebrand to Peak XV. Several existing shareholders were also part of the Series D equity round. The decade-0ld Sydney fintech provides offers… Read more »
A margin trading product offered by cryptocurrency exchange Kraken failed to meet its legal obligations under Australia’s Corporations Act, a Federal Court judge has ruled. The judgment hands a rare win to corporate regulator the Australian Securities and Investment Commission (ASIC) amid an ongoing focus on regulatory compliance in the crypto sector. Justice John Nicholas… Read more »
Brisbane recycling social enterprise Circonomy placed in voluntary liquidation 
Words of wisdom: Live caption translator Sunflower AI wins Best New Idea in Best in Tech Awards 
Bailador tops up volunteer management startup Rosterfy with $3 million 
Australian quantum software startup Q-CTRL tops up Series B with $88 million 
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