Shares in fintech MoneyMe (ASX: MME) have jumped more than 12% in opening trade on Tuesday after the company announced a new $167 million warehouse funding facility led by Westpac, that will cut its funding costs by more than 50%. The company put its shares in a trading halt yesterday pending the announcement. The deal… Read more »
Banks are upping their support for business to prevent commercial property evictions during the COVID-19 downturn
Australian banks are expanding their program of six-month loan deferrals to larger companies, offering relief on up to $250 billion in business borrowing. The major banks are backing the Australian Banking Association’s (ABA) extended Business Support Package to 98% of all businesses with a loan from an Australian bank, increasing the existing $3 million small… Read more »
Westpac has launched its sixth annual Innovation Challenge, offering startups, scale-ups and entrepreneurs the chance to win $50,000 and professional support to grow their business. The Challenge seeks data solutions solviong a business problems in five different sectors: micro business, energy, insurance, aged care or government. The latest challenge comes head of the phased introduction… Read more »
More than half (53%) of small business owners are worried about being scammed Yet only a third train staff in scam awareness and prevention Australian small businesses lose an average of nearly $40,000 per scam Scams on small businesses are costing owners more than $20,000 a scam according to new research from Westpac. The… Read more »
ANZ has released ‘Wallets@ATM’, a feature allowing customers to withdraw cash from the bank’s ATM using their mobile device rather than their plastic card.
VC firm Reinventure Group has closed its third $50 million fund, with Westpac once more backing the firm as it looks to expand its focus to Asia-Pacific.
Westpac-backed venture capital firm Reinventure has backed property investment platform BrickX, as part of the startup’s yet-to-close Series A round.
Commonwealth Bank, Westpac, and National Australia Bank are launching a payments app to enable instant payments for consumers and businesses.
Westpac is set to launch PayWear, its own wearable offering allowing customers to make tap and go payments on contactless-enabled terminals.
ANZ has announced the appointment of Opher Yom-Tov, former general manager of global design consulting firm IDEO, as the bank’s first Chief Design Officer.
Stone & Chalk has partnered with Westpac and Data Republic to establish FUELD, a new accelerator program supporting data startups.
Flare HR has announced the close of a $7.2 million funding round led by Reinventure Group, which will be used to build out Flare’s HR solution
Hyper Anna has raised $16 million in a Series A round led by Sequoia China, with participation from existing backers Airtree Ventures and Reinventure.
Westpac has invested $40 million into ASX-listed zipMoney through a private share placement for a 17.11 percent stake in the company, with a further $8 million to be invested subject to performance.