Funding

Brisbane music tech startup Splash, which created a smash hit game in Roblox, scores backing from Amazon’s Alexa fund in $27 million series A

- November 3, 2021 3 MIN READ

Splash, a Brisbane music technology startup that created a music-making game in Roblox, has raised $27 million in a Series A funding. The round was co-led by Amazon’s Alexa Fund and BITKRAFT Ventures with participation from Australian venture investor King River Capital and Khosla Ventures. In Splash, players earn fame by performing to live audiences… Read more »

New Zealand, Hobbit
Business

If New Zealand entrepreneurs are going to have any chance of survival, the government needs to reopen the borders now

- November 3, 2021 3 MIN READ

In the 2012 book Why Nations Fail, James A. Robinson and Daron Acemoglu look at why some great nations are destined to fail and some to succeed. One major theme amongst failures is leaders that aren’t prepared to share the success of a nation, and keep all the glory for themselves, eventually leading to revolt.… Read more »

Cryptocurrency

CBA opens up the CommBank app to cryptocurrencies

- November 3, 2021 3 MIN READ

The Commonwealth Bank is embracing cryptocurrencies, and will allow CommBank app customers to buy, sell and hold crypto assets. In the a game-changing move for the sector by the country’s biggest bank will see it partnered with crypto exchange Gemini – founded by the Winklevoss twins of Facebook fame – and blockchain analysis firm, Chainalysis.… Read more »

dogecoin, cryptocurrency
Cryptocurrency

Corporate watchdog ASIC has moved to licence cryptocurrency investment

- November 2, 2021 2 MIN READ

Corporate regulator, the Australian Securities and Investment Commission (ASIC) is ramping up its oversight of the investment side of the local cryptocurrency market with licences for crypto-asset holders. The regulator has introduced a new “crypto-asset” section in its licensing applications and responsible entities seeking to hold them will need that an authorisation in relation to… Read more »

First AML
Funding

New Zealand anti-money laundering startup First AML raises $30 million series B

- November 2, 2021 2 MIN READ

Anti-money laundering regtech startup First AML has raised A$28.7 million (NZ$30m) in a series B. The round was led by Blackbird Ventures, with support from new investors Headline Ventures, and existing backers Pushpay founder Eliot Crowther, US firm Bedrock Capital and Kiwi VC Icehouse Ventures.  Blackbird partner Samantha Wong will join the board. The funds… Read more »

QuintessenceLabs Vikram Sharma
Funding

Quantum cybersecurity firm QuintessenceLabs raises $25 million series B

- October 31, 2021 2 MIN READ

Canberra-based quantum cybersecurity venture QuintessenceLabs has raised $25 million in a series B. The round was led by the CSIRO’s VC fund Main Sequence Ventures and Canadian VC TELUS Ventures, with additional participation from Mizuho Financial Group-backed InterValley Ventures, which helps early stage Australian tech companies crack the Japanese market, and Capital Property Group.  The… Read more »

Business

Sex and drugs and TikTok rolls: How to keep kids safe from adult content on social media

- October 31, 2021 4 MIN READ

You may have read recently that TikTok allegedly “serves up” sex and drug videos to minors. Media reports have described the video-sharing platform, which is designed predominantly for young people, as an “addiction machine” that promotes harmful content. In an investigation, reporters at the Wall Street Journal created 31 bot accounts on TikTok, each programmed… Read more »

Mathew Cagney
Funding

Digital payment renewals business Renewtrak plants $3 million seed round

- October 29, 2021 2 MIN READ

Sydney startup Renewtrak, which automates the renewals of subscription and services contracts, has raised $3 million in a seed round. The raise was led by Sydney VC firm Tidal Ventures and supported by several existing investors, including Bridgeclimb founder Paul Cave. The cash is for global expansion plans. Renewtrak’s customer base includes leading tech companies… Read more »

Atlassian, Mike Cannon-Brookes, Scott Farquhar.
Global tech

Nearly 20 years on, Atlassian’s revenue is continuing to skyrocket – and the losses too

- October 29, 2021 2 MIN READ

Atlassian continues to grow rapidly, with quarterly revenue up 34% on 12 months ago. Releasing its first quarter FY22 results today, Nasdaq-listed Australian tech company posted revenue of US$614 million, with quarterly subscription revenue up 57% year-on-year to US$435 million. But the company’s losses remain equally impressive, with a net loss of US$400.1 million for… Read more »

Afterpay, Nick Molnar, Anthony Eisen
Advice

KPMG: Fintech sector growth is being driven by M&A

- October 29, 2021 3 MIN READ

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 »