Consumer Data Right

CBA’s startup investment arm, x15ventures, tips $1 million into ASX-listed fintech subsidiary Payble

- April 13, 2021 < 1 MIN READ

The Commonwealth Bank’s venture scaling arm, x15ventures, has invested $1 million for a 26.7% stake in bill payments startup Payble, a subsidiary of listed IT company Identitii (ASX: ID8). Payble tackles late and failed bill payments before they happen, seeing the possibilities in open banking through Consumer Data Right (CDR) to tackle a problem with… Read more »

Fintech

Australian fintech Assembly Payments is merging into Irish forex marketplace CurrencyFair

- April 8, 2021 2 MIN READ

The journey for Melbourne fintech Assembly Payments is set to end with the company being merged into Ireland-based cross-border payments platform CurrencyFair by one of the company’s key backers Standard Chartered. The British banking multinational launched a Singapore-based joint venture digital payments company with Assembly Payments in early 2020. Standard Chartered said the merger was… Read more »

Fintech

EML Payments shares jump after the fintech’s $170 million Eurovision acquisition

- April 7, 2021 < 1 MIN READ

Shares in Australian fintech EML Payments (ASX: EML) jumped 5.8% today on news that it would acquire Irish open-banking platform Sentenial for €70 million (A$108.6m), plus an earn-out component of up to €40 million (A$62.1m). Sentenial, and its Open Banking brand Nuapay, operate in Europe via more than 1,750 banks, processing €45 billion in payments… Read more »

ASX

The golden era for BNPL shares is over for now

- March 31, 2021 2 MIN READ

The stellar rise on buy-now-pay-later fintechs on the ASX appears to have halted, with market leaders such as Afterpay falling briefly below $100 a share in trading today amid a three-month low for BNPL stocks. Afterpay (ASX: APT) ended the day up slightly at $101.50, but remains a long way off its mid-February high of… Read more »

Xinja
Fintech

Xinja is officially no longer a bank

- March 1, 2021 < 1 MIN READ

Xinja is no longer a neobank. Despite last minute efforts by a group of the company’s shareholders pushing for the fintech to keep its banking licence, after it was the startup’s most valuable asset, the financial regulator, the Australian Prudential Regulation Authority (APRA) revoked Xinja’s licence as an authorised deposit-taking institution (ADI) on Friday. The… Read more »

Funding

Startup Daily TV: Digital lender WLTH is raising a $5 million seed round just months before a series A

- February 26, 2021 2 MIN READ

Digital lending and payments provider WLTH has opened $5 million seed funding round. The Brisbane-based fintech will use the funds to accelerate the growth of its proprietary technology platforms, ahead of the upcoming launches of its B2C payments app ‘WLTH Pay’ and loyalty program ‘WLTH + Loyalty’, as well as make key hires for its… Read more »

Fintech

Westpac teams up with lending fintech SocietyOne for digital banking play

- February 23, 2021 2 MIN READ

One of Australia’s original fintechs, SocietyOne, the peer-to-peer lending marketplace, has joined Afterpay on Westpac’s new digital banking services platform, 10X. Westpac’s digital banking services will be available to SocietyOne customers in the second half of 2021, and the bank has been backing the fintech since 2014 through its VC fund, Reinventure. In October last… Read more »

Fintech

SME fintech Thrive just smashed crowdfunding records, raising $3 million in 3 days

- February 22, 2021 3 MIN READ

Thrive, a Melbourne-based fintech using artificial intelligence to automate banking, accounting, tax and lending for small-to-medium enterprises (SMEs), has closed its crowdfunding campaign after just 3 days, having raised a record $3 million. Thrive’s campaign launched on Birchal on broke multiple records when it went live last week, hitting $1 million towards the $3m target… Read more »

Startup Daily on Ausbiz

Startup Daily TV: WLTH is taking on the Big 4 banks with cheaper, tech-driven mortgage lending

- February 18, 2021 2 MIN READ

Brisbane fintech WLTH calls itself a digital “non-bank” providing financial services to the Australian market.  The digital lender and payments provider launched just a few weeks ago after spending more than a year develop its tech stack amid ambitions to capture $1.23 billion worth of residential and commercial loans by the end of FY22. WLTH’s… Read more »

Startup Daily on Ausbiz

Startup Daily TV: Australian fintech Quest has developed tech for merchants to accept payments on their phone

- February 16, 2021 2 MIN READ

Melbourne-based fintech Quest Payment Systems has developed a tap-to-phone payments solution, Airpay TAP, that recently received approval from payments regulator Australian Payments Network (AusPayNet) for use for businesses to take payments via their smartphone. The first-of-its-kind SoftPOS (as they’re known) allows merchants to accept contactless card payments on almost any modern Android smart phone via an… Read more »