CSIRO-backed fintech DAS (Digital Agriculture Services) has raised $3 million in interim funding in a round led by the VC arm of Canadian communications giant TELUS. TELUS Ventures was supported by existing investors, which include CSIRO, Startmate and several high net worths – and ahead of a broader US series later this year. The business… Read more »
Sydney-based proptech startup, Downsizer, has secured A$3.75 million in seed capital. The round was led by Correlation Australia Holdings (CAH), supported by existing shareholders, including family offices and high-net-worth individuals. It brings the total raised to date to $6.1 million. Downsizer is an award-winning startup that provides digital solutions for the finance, property, and insurance… Read more »
Move over ‘financial wellness’, the next frontier for fintechs is ‘financial intelligence’, says the founder of digital banking alternative Yondr. Money management is something of an obsession for Melbourne-based entrepreneur Shane Chanel. He first knew he wanted to be a financial planner as a 16-year-old student at Melbourne’s Nazareth College. After studying financial planning at Deakin… Read more »
Payments platform Cuscal has acquiring Consumer Data Right startup Basiq for an undisclosed sum. The deal provides an exit for investors including NAB Ventures, Salesforce Ventures and Westpac’s Reinventure, as well as Visa. The VC arms of the Australian banks first backed Basiq in 2017, doubling down in a Series A in 2021. Cuscal, owned… Read more »
Sydney business payments fintech Till Payments has raised $70 million in a Series D, having shed 40% of its staff earlier this year. The company cut 120 staff at the start of 2023 amid a 5-month hunt for capital ahead of plans to list on the US NASDAQ later this year. “Despite our significant successes,… Read more »
Concerns about the cryptocurrency, including pending Australian regulation, have not deterred cricketer Steve Smith from wading into sector, taking a minority equity stake in Perth crypto app Bamboo, and also becoming its brand ambassador. The move by Smith comes as US sports stars including NFL legend Tom Brady, NBA star Stephen Curry and tennis champion… Read more »
Tech Wreck, Crypto Winter… the new phrases that were coined in 2022’s difficult year for fintech startups don’t inspire a lot of confidence in the market. But while valuations have dropped and easy money has dried up, there is a lot to be positive about in 2023. Quality over quantity The tougher conditions we… Read more »
Payments software scale-up DataMesh Group has raised $30 million in a Series A. The round was led by NAB Ventures, with new investors including Deutsche Bank, ANZ’s VC arm, 1835i Ventures, Wunala Capital, Fifth Estate and Peregrine Corporation. NAB Ventures previously backed DataMesh in late 2021 in a $12 million pre-Series A raise. The Sydney… Read more »
Share trading and superannuation fintech Superhero has rehired one of its first employees, Rachel Hopping, as its first head of strategy. She comes to the business after a brief stint at Fintech Australia as head of strategic partnerships and will lead overall business strategy, reporting to CEO and cofounder John Winters. She joins the executive leadership… Read more »
Global payments and financial platform, Airwallex announced senior appointments to its leadership team as they focus on expansion into 2023. Airwallex is a global financial and payment platform that helps entrepreneurs eliminate unnecessary costs and complexity associated with traditional financial systems. It offers an all-in-one platform for managing payments, treasury, and spending and is trusted… Read more »
Small business credit fintech Shift has raised $27 million in fresh capital, led by Sequoia Capital Southeast Asia. The 10-year-0ld fintech provides credit and payment platforms to help businesses trade, pay and access funds. It was previously known as GetCapital, having rebranded as Shift in October 2021. The company is calling this a Series C.… Read more »
ASX-listed Buy-now-pay-later (BNPL) fintech Openpay has been placed in the hands of receivers after it failed to bank working capital from its key funder. The payments platform has been shut down, effectively sealing the company’s fate. The collapse comes a week after the company’s quarterly results on January 31, which flagged delays in receiving the… Read more »
Fintech Zeller is taking on the big four banks to offer financial services to the small business sector, launching a new transaction account, debit card, and app. It’s a major shift in strategy for the Melbourne startup, founded by former Square exec Ben Pfisterer and Dominic Yap. The three-year-old venture launched in 2021 with a… Read more »
New Zealand-founded accounting fintech Hnry has raised A$35 million in a Series B as it looks to go global. The round was led by local VC AirTree Ventures, supported by existing New York-based backer Left Lane Capital, Akshay Kothari, cofounder of California software company Notion, and Athletic Ventures, the sports star investment syndicate that includes AFL… Read more »
Former Goldman Sachs executive director Laura Mineo has joined Byron Bay-based merchant payments fintech Zepto as Chief Financial Officer. Her C-suite role follows the appointment of Julia Bearzatto as Chief Product Officer in November last year. Mineo was most recently in New York as CFO at locally-founded, US-based Rokt, Australia’s third most-valuable private tech company behind… Read more »
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