The US regulator proposed a plan at the beginning of the year for companies to be able to “test the waters” for a potential initial public offering by gauging investor interest ahead of time. In 2017, the SEC extended to all companies the right to file IPO paperwork confidentially. The initiatives are part… Read more »
Investors who backed medical technology company, Osteopore Ltd (ASX: OSX), which listed today, watched the company’s value go through the roof as the shares jumped by 300% in value and nearly a quarter of the 26.25 million shares issued changed hands. Osteopore 3-D prints “bioresorbable” implants for surgery that dissolve as the bone heals. … Read more »
US-based office space startup WeWork released its prospectus publicly overnight. The IPO documents reveal the company is a long way from profitability and does not predict when it will be in the black. It lost AU$2.4 billion in 2018. The 10-year-old venture has 20 sites in Australia, half of them in Sydney. It is… Read more »
Prospa co-founders Beau Bertoli and Greg Moshal Fintech startup Prospa (ASX: PGL) has turned into a nice little earner for its key investors, AustralianSuper and Airtree Ventures, with shares in the online small business lender soaring 18% on debut on the ASX at noon today. The jump added $110 million to Prospa’s market cap after… Read more »
Fintech Prospa launched in 2012 after its co-founders grew frustrated with access to small business loans from traditional banks The company is raising $110 million from institutional investors, valuing the business at $610m Its backers include Square Peg, Airtree and AustralianSuper. This is Prospa’s 2nd attempt to float after an IPO was pulled at… Read more »
Funding for Australian startups just had a bumper start to 2019, but things are starting to look tougher
Investors and companies spent more than $2.6 billion on tech startups in the first three months of 2019, but the cash splash looks set to dry up if the longer-term trend continues according to Startup and tech directory Techboard, which released its March 2019 quarterly funding report today. It was a good quarter for mature startups… Read more »
Israeli fintech startup Splitit has completed the first ASX listing of the year, following the closing of a $12 million initial public offering (IPO).
Martin Hosking, CEO of ASX-listed creative marketplace Redbubble, has announced his retirement, with the company’s chief operating officer, Barry Newstead set to take his place. Hosking, who cofounded the company with two friends in 2006 and has served as its CEO since 2010, will step down in August and move into the role of non-executive… Read more »
Small business lending startup Prospa has delayed its ASX listing as it seeks to clarify questions raised by ASIC yesterday around its loan terms.
Raiz Invest, the micro investment platform formerly known as Acorns Grow Australia, has lodged its prospectus with the Australian Securities and Investments Commission (ASIC), looking to raise $15 million through an initial public offering (IPO). Priced at $1.80 a share with shares scheduled to begin trading on June 21, the IPO will value the company… Read more »
The Australian rideshare space continues to heat up, with Indian player Ola this week launching in Sydney and local offering GoCatch announcing its plans to launch an Initial Public Offering (IPO) in June ahead of a listing on the ASX.
US fintech Credible, founded by Australian Stephen Dash, is raising $67 million (US$50 million) as it lists on the Australian Securities Exchange today.
Melbourne logistics company GetSwift, which raised $5 million through an ASX listing last December, has raised $24 million from a collection of US-based and local investors.
Sydney-based human resources software company Elmo has released its prospectus ahead of a proposed ASX listing on June 29, looking to raise $25 million by floating 12.5 million shares at $2 a piece.
Music streaming startup Guvera Limited has announced it’s ceased operations, with founder and chief executive Claes Loberg departing the company.