The Commonwealth Bank has taken a 20% stake in Brisbane fintech startup Paypa Plane for an undisclosed sum. Founded in 2018 by Simone Joyce and Jonathan Grant, Paypa Plane is a digital payments provider, building a bank-grade platform where traditional scheduled payments and payment initiation via the New Payments Platform (NPP) and PayTo, which is… Read more »
FinTech Australia is building a new map detailing fintechs in the local ecosystem and is keen to hear from local startups. The ecoystem map follows on from FinTech Australia’s regulatory and investor maps, and aims to provides a comprehensive overview of fintechs in the Australian market. Fintechs can add their business to the map by… Read more »
The former CEO of fintech startup Spaceship has been banned from acting in the financial services sector for six years by the corporate regulator, ASIC. Paul Kevin Bennetts, of Elanora Heights on Sydney’s Northern Beaches, was found to have dishonestly obtained his Australian Institute of Company Directors (AICD) qualification following an investigation by the company… Read more »
Homegrown global fintech Airwallex has announced its official launch into Singapore today following its November grant of a Major Payment Institution (MPI) license by the Monetary Authority of Singapore. The approval will see Airwallex progressively introduce a suite of product and service offerings that will enable businesses in Singapore to operate and grow globally and… Read more »
Brisbane fintech YouPay launched this week with online retailer Culture Kings integrating it into its shopping cart straight away. The service has a new take on payments innovation by letting users fill up an online shopping cart then and getting someone else to pay for it. YouPay just finished a $4 million seed round with… Read more »
Waiting for payday is a thing of the past with Paytime, a new HR fintech that gives employees access to their pay checks before pay day. Startup Daily sits down with CEO and founder Steven Furman to find out how technology has fuelled the platform’s rapid growth. Steven came up with the concept of Paytime… Read more »
Buy now, pay later (BNPL) companies were among the stock market darlings of 2020 – and nowhere more than in Australia, the birthplace of pioneering companies Afterpay and Zip Co. There are 15 BNPL companies listed on the Australian Securities Exchange (ASX), more than any other exchange in the world. But if you took a… Read more »
The honeymoon for buy now pay later (BNPL) fintechs continues to sour with Zip (ASX: Z1p) shares falling to an 18-month low in Monday afternoon trade, and Afterpay (ASX:APT) dipped 5% to their lowest level in six months before recovering to close 4% down at $94. Sezzle (ASX: SZL) is among the hardest hit fintechs,… Read more »
HelpPay, a fintech for people seeking help to pay bills, has raised $2.4 million in series A ahead of its public launch this Monday, November 29. The first-of-its-kind platform lets people securely share bills with family and friends via a smartphone app, allowing others to chip in and help pay them off. Unlike crowdfunding options… Read more »
x15ventures, the Commonwealth Bank’s venture scaling arm, has tipped an additional $700,000 into its joint venture fintech Payble. The startup is a subsidiary of ASX-listed Sydney fintech Identitii (ASX: ID8), which uses blockchain and tokenisation to connect banks and businesses with the data for payments, in a joint venture with x15. Payble co-founder and MD… Read more »
Superhero has signed a partnership deal with the Qantas Frequent Flyer program so members of the share trading platform can earn Qantas Points when they invest. Superhero users can earn up to 15,000 bonus points when they sign up, trade and transfer between today and February 28 next year New and existing traders who sign… Read more »
Household renewable energy financier Brighte has scooped up another $185 million in asset-backed securitisation (ABS) as it looks to get into the “gentailing” as an energy retailer with its clients. The company, which counts Mike Cannon-Brookes and Grok Ventures among its key VC backers, has raised $375 million in public debt and $145 million in… Read more »
FinTech Australia has released a new map for fintechs detailing investors in the sector. The map showcases investors from across the country, featuring a variety of funders including venture capitalists, angel funds, corporate investors, crowd-funding options and incubators. It’s available for free for people in the fintech and startup communities. The map is free to… Read more »
Australia’s biggest bank, the Commonwealth (CBA) has made a major play in artificial intelligence, investing $134 million (US$100m) in California AI market leader H2O.ai, for a minority stake. The bank is hoping the exclusive partnership with the Silicon Valley machine learning platform will help make Australia a leading force in AI. H2O is CBA’s exclusive… Read more »
Consolidation in the financial services sector, as corporates swallow up fintechs, has been a key driver of growth in the fintech sector over the past 12 months according to analysis by KPMG. The KPMG Fintech Landscape 2021, an annual survey of independent fintechs that are either active and/or headquartered in Australia, reveals there are currently… Read more »
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