Hnry believes sole traders should have access to world-class tax accountancy services. They say there’s no other certainty in life than death and taxes, but for many sole traders, doing their taxes is a kind of death. Death by a thousand numbers, receipts, deadlines and obligations. It’s enough to kill the startup dream. Then along… Read more »
The Commonwealth Bank is expanding its children’s banking products with a new digital app as part of a wider digital strategy announced by CEO Matt Comyn. The range of initiatives the bank launched include a new low interest digital home loan at 2.14% for owner-occupiers. It’s also adding the CommSec share trading app to the… Read more »
The finalists for FinTech Australia’s sixth annual business awards, known as The Finnies, have been announced. More than 290 entries were received for this year’s awards, across 20 categories, with the judges selecting a shortlist of 125 finalists. FinTech Australia CEO Andrew Porter said the calibre of entries continues to rise each year for the… Read more »
Sydney fintech BizPay is laying off nearly a third of its workforce amid an ongoing capital raise. The business cashflow startup, which bills itself as a buy now, pay later (BNPL), letting companies pay invoices in four instalments, has shed 30% of its team, who finish up this week. Founder and CEO David Price blaming… Read more »
Melbourne unicorn Airwallex is reportedly looking to extend its Series E round for a second time, seeking another US$150 million (A$209m) as it contemplates a public listing. Bloomberg reports the seven-year-old cross-border payments fintech is talking with several investors to close the round within months, citing unnamed insider sources. It’s just seven months since Airwallex… Read more »
Buy now, pay later market leader Afterpay posted a staggering $345.5 million loss after tax for the six months to end 2021, a 336% increase on the $79.2 million loss the fintech posted in the corresponding period in 2020. The figures are the first published by the BNPL since Jack Dorsey’s US payments platform Square… Read more »
Fintech startup Bloom is launching the country’s first climate impact investing app. Co-f0under Camille Socquet-Clerc said the Bloom fund will feature a mix of green bonds, publicly-listed stocks and privately-held projects previously available to wholesale and sophisticated investors, such as solar farms. Bloom’s fund includes 75 investments, including big players like Tesla and BluGlass. Socquet-Clerc… Read more »
Until now, access to exclusive institutional-grade private equity funds, run by the world’s leading asset managers, has typically been restricted to large institutions and the ultra-wealthy. It is telling that many of the largest and most successful fund managers in the world do not have brands that are familiar to even the most active individual… Read more »
ANZ bank has minted its own stablecoin, A$DC, becoming the first Australian bank to create its own cryptocurrency with a value pegged to the Australian dollar. The ANZ stablecoin was created for the billionaire Smorgon family’s investment firm Victor Smorgon Group, which was issued with the 30 million A$DC in February. Unlike other popular stablecoins, A$DC… Read more »
Consultation on expansion of the Consumer Data Right (CDR) to open finance has been kicked off by the Australian government. A consultation paper released today calls for public input on datasets to be considered from non-bank lending providers, offering fintechs the chance to develop innovative consumer use cases. Earlier this year, the federal government announced… Read more »
Zip shares fell 7.7% following resumption of trade on Tuesday after the company announced a $491 million all-scrip takeover of US BNPL Sezzle. The merger, offering a 31.7% premium on Sezzle shares based on the 30-day volume weighted average price, is another sign of an expected consolidation of the crowded BNPL market following Square’s takeover… Read more »
Buy-now-pay-later (BNPL) fintechs have built their brands over the last several years selling the convenience of “budgeting” your expenses. You can have your cake now, eat it too, then pay it off over 4 interest-free payments. But there’s been growing concerns about the sector, with nearly two-thirds of Australian financial counsellors supporting clients struggling with… Read more »
NAB is on the hunt for 500 tech interns as part of a recruitment drive that will see the big four bank employ 1,500 new tech people 2022. The NAB program is looking for people who are in early and emerging careers, as well as neuro-diverse candidates and those returning to work or transitioning careers.… Read more »
In December, the Federal Treasurer, Josh Frydenberg announced “the most significant reforms” to Australia’s payments system in 25 years. Frydenberg said the policy package will “ensure Australia is at the front of the pack when it comes to harnessing the benefits of the digital economy.” Real-time payments are already proving very popular. Sadly, this popularity… Read more »
There has been some truly remarkable progress in the fintech industry in the past year. We’ve seen records for funding rounds broken, women leaders in the industry excel and a number of companies make significant headway with new technologies and policies. Today, we’re calling on all companies in the sector to put their hand up… Read more »
The Canva brand is now worth more than Woolies, Telstra and Bunnings
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VC-backed crowdfunding platform Stride Equity is offering a new funding model for startups
NBN Co surfs layoff wave, cutting 500 staff to ‘simplify’ as competition grows
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