Superhero and Swyftx merge to create a new fintech unicorn

- June 8, 2022 2 MIN READ
John Winters, Alex Harper, Angus Goldman and Wayne Baskin
Share trading and superannuation fintech Superhero will merge with cryptocurrency exchange Swyftx to create a four-year-old fintech startup valued at $1.5 billion.

The two fintechs will continue to operate their separate brands and platforms while offering both services to all users in what they describe as create “the country’s first digital and traditional finance powerhouse”, supporting trading and investing across cryptocurrencies, equities and superannuation.

The merger is expected to be completed in the next few months. The combined business will support 800,000 investors across Australia and New Zealand, with offices in Sydney, Brisbane, London and Vancouver.

Swyftx, co-founded in 2018 by Alex Harper and Angus Goldman, has more than 600,000 retail and corporate investors, providing access to more than 320 digital currencies and crypto interest earning features.

Harper said Swyftx grew its investor base by around 1,200% last year.

“The proposed merger represents a significant step for both businesses in terms of their evolution from disruptive tech players into a single, major financial institution that can grow across domestic and international markets,” he said.

“There is a deep level of mutual respect and alignment between our teams and the experience that the Superhero team has in the regulated business will be enormously important in shaping the future of the combined entity, especially with digital currency going through its own journey towards regulation.”

John Winters and Wayne Baskin also co-founded Superhero in 2018, launching their trading platform in late 2020 as Australia’s lowest cost online broker.

In July last year, the fintech followed up with the launch of its superannuation product, Superhero Super, offering in a range of portfolio investment products, including direct ASX-listed shares and ETFs.

Winters said Superhero’s users grew by more than 600% in the last 12 months to over 200,000 investors who can trade in Australian and U.S. stocks.

“We are thrilled to announce this merger and offer our customers the opportunity to invest in traditional and digital assets across a single platform,” he said.

“The Swyftx team has achieved amazing things since launching in 2018 and we can’t wait to join together to offer investors an even better investing experience.”