Crypto investors hoping to get their cash in a hurry through Binance Australia will be forced to wait a day or two longer after the crypto exchange said it has been forced to stop offering PayID deposits for Australian dollar account holders following “a decision made by our third party payment service provider”. The bebanking… Read more »
Four-year-old Melbourne online mortgage broker Finspo has raised another modest round, pulling in $2.55 million in a Series D for upgrades to its digital platform. The company did not disclose who supported the raise. Founded by ex-bankers in 2019, and launched in 2020, Finspo previously raised $2.7 million in Series A in November 2020, $4 million… Read more »
The board of ASX small cap IOUpay handed control to PricewaterhouseCoopers as voluntary administrators on Wednesday after a major fraud that siphoned off millions of dollars left the fintech unable to pay its bills. Shares in the Malaysia-focused fintech (ASX:IOU) have been suspended at $0.04 cents since the fraud was first uncovered in mid March.… Read more »
Early stage investment company Antler Australia recently backed a new cohort of startups as part of its ongoing program to build great local tech companies. Startup Daily is sharing the details of each venture in the “Antler Investor Memos” series, which is designed to give you a quick, sharp understanding of the startups and people… Read more »
Waave, a fintech using open banking to build a direct debit alternative to card payments, has raised $4.7 million in a Seed round. The round was backed by a range of prominent individuals, including Menulog boss Morten Belling, eCommerce pioneer Paul Greenberg and Chemist Warehouse founder Jack Gance, who joins the fintech as an advisor.… Read more »
Brisbane fintech Paypa Plane, which is at the forefront of instant payments, has raised $10 million in a Series A. The round was led by the Queensland Investment Corporation (QIC) through the government’s $100 billion Business Investment Fund, with support from payments platform Cuscal, Mastercard and Queensland VC Sprint Ventures. Paypa Plane is hoping to… Read more »
Senator Andrew Bragg is pushing once again to introduce regulation for the cryptocurrency sector in Australia, amid ongoing exchange collapses and US regulators investigating alleged illegal activity by Binance. The NSW Liberal, now in opposition, introduced a private senator’s bill to the Senate on Wednesday, accusing financial services minister Stephen Jones of being “uninterested in… Read more »
Financial advice fintech Lumiant has raised $5 million in a second self-described “Seed” round. The funding came from two growing independent advisory firms, Australia’s Invest Blue and US firm Savant Wealth Management. Lumiant is a cloud-based advice platform designed to improve financial advisers’ and clients’ advice outcomes. The funding is earmarked for US expansion and… Read more »
The collapse of Silicon Valley Bank in California, along with US crypto-focused Silvergate and Signature banks, has provoked financial regulator the Australian Prudential Regulatory Authority (APRA) to ramp up scrutiny of how exposed local bank are to cryptocurrency and startups. Reports emerged this week that APRA is already asking banks to increase their reporting on… Read more »
Agriculture fractional investment marketplace Invest Inya Farmer (IIF) has raised $1.1 million in Seed funding to give everyone to back the people who grow what they eat. The round was led by Investible, alongside global agtech VC AgFunder and high net worth investors. IIF has built a smartphone app that allows users to browse and… Read more »
Till Payments founder Shadi Haddad has stepped down as CEO in the wake of the fintech a $70 million raise, announced a fortnight ago. The company has declined to comment on changes to its C-suite amid board changes, and job cuts, but Paul Kawtal, CEO of Sydney-based IT and telecommunications business Ethan Group, is reportedly… Read more »
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 »
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