piggy bank broken

B2B BNPL BizPay, which hoped to list at a $400 million valuation, has been placed in voluntary administration

- November 28, 2023 2 MIN READ

Invoice payment buy now pay later (BNPL) fintech BizPay was placed in voluntary administration last week Jonathon Keenan and Peter Krejci from BRI Ferrier were handed the books as administrators on November 23. The company’s website says no new loans are being issued while a restructure is being explored. Ironically for a fintech offering a… Read more »

Laura Keily

Legal disputes startup Immediation placed in voluntary administration after raising $19 million in six years

- November 2, 2023 2 MIN READ

Online dispute resolution platform Immediation was placed in voluntary administration last week, seven months after the startup’s founder and CEO departed amid a $2.8 million capital injection. Joanne Dunn and David McGrath from FTI Consulting were appointed administrators to 3 Australian entities: Immediation Pty Ltd (the head company), Immediation Platform, and Disputech IP Holdco, on… Read more »

Mike Cannon-Brookes
Climate Tech

Mike Cannon-Brookes gets his hands on the $30 billion SunCable project

- September 11, 2023 3 MIN READ

Atlassian cofounder and billionaire investor Mike Cannon-Brookes has taken charge of the $30 billion SunCable solar power project he once labelled as “insane”, with the deal to buy it from the company’s administrators going through last week. Helietta Holdings a joint venture company affiliated with his family venture capital firm, Grok Ventures, in partnership with… Read more »

Nourish Foods cofounder Monica Meldrum

Nourish Foods is up for sale after being placed in voluntary administration

- September 6, 2023 2 MIN READ

Nourish Foods Pty Ltd, the parent company of organic children’s food brand Whole Kids, has been placed in voluntary administration, just months after it failed to raise $1 million via crowdfunding.   The 18-year-old B Corp-certified family business is now being put on the market by administrators Tim Heesh and Mark Everingham of TPH Advisory after… Read more »

Sans Drinks founder Irene Falcone

Sans Drinks gets a second shot as Just Wines acquires it from administrators

- August 25, 2023 2 MIN READ

Nourished Life founder Irene Falcone’s Sans Drinks will get a second life with business being acquired from its administrators by online retailer Just Wines. The online non-alcoholic drinks store was placed in voluntary administration in mid July, with Falcone citing a challenging and changing retail environment. The sale is a surprising turnaround for the business… Read more »

Different cofounders Ruwin Perera and Mina Radhakrishnan

Indifferent: Airtree & CBA-backed proptech handed to administrators after raise attempts fail

- June 30, 2023 2 MIN READ

Residential property management startup Different, has been handed to administrators, unable to attract new capital, despite being backed by Airtree and the Commonwealth Bank’s venture arm, X15. Seven-year-old Different Technologies Pty Ltd was placed in voluntary administration with KPMG on Thursday. Founded in 2017 by expat Silicon Valley entrepreneurs, Mina Radhakrishnan, a former Uber global… Read more »

Mike Cannon-Brookes

Atlassian’s Mike Cannon-Brookes wins the billionaires battle for flailing renewable energy startup Sun Cable

- May 26, 2023 2 MIN READ

The battle for control of failed renewable energy startup Sun Cable between billionaires Mike Cannon-Brookes and Andrew Forrest has been won by the Atlassian cofounder. Sun Cable’s voluntary administrators FTI Consulting, announced on Friday afternoon that they’d entered into an asset sale agreement (“ASA”) with Helietta Holdings 1 Pty Ltd, an entity affiliated with Grok… Read more »

Everledger founder Leanne Kemp

Brisbane blockchain provenance startup Everledger placed in administration after funding evaporates

- May 9, 2023 2 MIN READ

Blockchain provenance startup Everledger has been placed in voluntary administration after an existing investor failed to follow through on the 2nd tranche of their funding. The Brisbane tech company, founded in 2015 by former Queensland chief entrepreneur Leanne Kemp, offers supply chain traceability using blockchain, artificial intelligence, intelligent labelling and Internet of Things. They were… Read more »


ASX-listed fintech IOUpay handed to administrators after its former CFO allegedly stole millions

- April 27, 2023 3 MIN READ

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 »


Sydney gourmet food marketplace ChefPrep is in administration, 7 months after rebranding as CoLab after acquiring its Melbourne rival

- April 4, 2023 3 MIN READ

If you’re after some gourmet food at a discount over Easter, CoLab’s new administrators, EY, are offering 30% off the marketplace’s best sellers until 11 April – 5 days after creditors will meet in Sydney to hear more about the financial status of the business this Thursday. The meal home delivery marketplace, which raised $3… Read more »

Mike Cannon-Brookes

Mike Cannon-Brookes lends Sun Cable $65 million to keep the show on the road as its administrators look for a buyer

- January 24, 2023 2 MIN READ

Atlassian cofounder and billionaire investor Mike Cannon-Brookes has lent Sun Cable, the startup behind a $30 billion project to send solar power to Singapore, $65 million to keep operating as the company’s voluntary administrators look to sell the business. Cannon-Brookes is making the no interest loan through his family venture capital firm, Grok Ventures after… Read more »

Mike Cannon-Brookes

The $30 billion Sun Cable project hits voluntary administration amid falling out between billionaire backers Mike Cannon-Brookes and Andrew Forrest

- January 12, 2023 2 MIN READ

A $30 billion project to send solar-generated power made in Australia to Singapore has been placed in voluntary administration (VA) amid a reported falling out between its key backers, the tech and mining billionaires Mike Cannon-Brookes and Dr Andrew Forrest. Cannon-Brookes and Forrest are cornerstone investors in Singapore-based Sun Cable – the Atlassian co-founder through his private… Read more »