Stone & Chalk rides the fintech disruption wave
The launch for fintech hub Stone & Chalk was oversubscribed. By 7pm, 500 people had descended on the party, donning coloured T-shirts to signal where they belonged. Red T-shirts designated institutional sponsors, green was for resident start-ups, charcoal for friends, blue for government and pink for media (funny). The happiest people wore green. The 120 residents from 41 start-ups who had won the chance to work on a floor of the AMP Centre, found themselves regaled by bank chiefs, politicians, venture capitalists, accountancy heads, lobbyists and each other. The biggest boast was: “I used to be a banker.” And it was said by those in green, who hoped to disrupt […]
First State Super to expand VC platform
First State Super chief investment officer Richard Brandweiner spoke about his fund’s continuing investment in venture capital at the H2 Ventures Fintech Expo in Sydney yesterday. The $52 billion super fund announced a $110 million investment in technology venture capital firm Blackbird Ventures in September 2015 alongside Hostplus, which made a smaller contribution. Mr Brandweiner said he wants to build out a venture capital platform “triangle” within First State Super’s portfolio, with broad technology, fintech and ‘bio sciences’ at the corners. “Broad tech is the biggest area; fintech has great relevance for us as a retail financial services provider; and a large part of our membership is in the health […]
FinTech changing the landscape
The emerging world of financial technology, or fintech, is having an impact on everything from the way new products are funded through to the culture and practices of major banks and financial institutions. According to Simon Cant, co-founder and co-managing director of venture capital player Reinventure Group, fintech is basically anything providing some version of a financial service using modern digital technology. “Fintech is affecting, in particular, the way consumers and SMEs are conducting their business,” he said. “Fintech is providing a better user experience, providing financing that is cheaper and is more convenient. “One of the earliest examples of new funding mechanisms is Kickstarter, where a technology platform underpins […]
Lend2Fund lured to London by friendly fintech regulation
One of the10 fintech start-ups that joined a UK Trade & Investment delegation to London last month has decided to relocate there, suggesting governments and regulators need to lift their game to keep entrepreneurial talent in Australia. Lend2Fund, a marketplace lender for commercial property deals, says Britain’s financial regulator, the Financial Conduct Authority, is more transparent and collaborative than the Australian Securities and Investments Commission. It also says UK financial services licensing is more accommodating towards Lend2Fund’s business model, which creates a digital marketplace to offer commercial property loans to professional investors with debentures. The move also reflects better opportunities for seed funding in the UK, where the Conservative government […]
Melbourne fintechs rival Sydney, but help needed
Melbourne peer-to-peer lender MoneyPlace has identified a rash of new fintechs that have started up in the city in the past five years, but argues they in danger of being lured offshore without government help. The first survey of Melbourne’s fintech scene by the lender’s founder Stuart Stoyan has uncovered more than 500 people being employed by 52 companies – three-quarters of which are less than two years old. KPMG released a study of fintechs in Australia in late 2014. It identified 950 start-up businesses in Sydney and about 350 in Melbourne. It has no exact figures for what proportion are fintechs, but estimated there are at least 150 based […]
Fintech 100 is looking for the next global fintech innovators
Nominations are open for inclusion in the ‘Fintech 100’ list, which will recognise leading fintech innovators from around the world. The list is being compiled by Australian-based fintech investment firm, H2 Ventures in collaboration with KPMG International’s global fintech practice. Fintech Innovators was established to analyse the fintech space globally. The Fintech 100 will include both the leading 50 established fintechs, and the most intriguing 50 ‘emerging stars,’ expanding on the success of last year’s ‘50 Best Fintech Innovators of 2014’ list. Source: Fintech 100 is looking for the next global fintech innovators
PromisePay to propel payments for Airtasker start-up | The Australian
Australian online marketplace start-up Airtasker has recruited Westpac-backed fintech firm PromisePay to power its transactions. PromisePay, which recently secured funding from Westpac’s Reinventure Fund, as well as 99 designs co-founder Mark Harbottle, Australian venture capital firm Rampersand and US fintech venture capitalists Cultivation Capital, works with marketplaces and on-demand platforms in the US and Australia to manage their payment requirements. The start-up’s chief executive, Simon Lee, said PromisePay’s fundamental point of difference was trust. “What we do is, the money never touches the marketplace’s account,” he said. “The only money that ever touches the marketplace is accountancy fees. So, specifically in our contract, we make the marketplace a broker of […]
INDX.GURU is the latest fintech startup looking to decode the stock market and be a champion for everyday investors
From Simply Wall St to Stockspot and StockLight to FirstStep, many Australian startups have emerged in the past few years attempting to decode the stock market, make it more accessible to investors of all ages and experience levels and offer an alternative option to paying financial advisors exorbitant fees to manage investment portfolios. The latest market entrant is Sydney-based INDX.GURU. In similar spirit to its predecessors, INDX.GURU wants to be the fourth estate of the stock market industry, bringing much-needed transparency to an industry rife with jargon that’s indecipherable to the average investor, and using technology to empower self-directed investors to manage their own investment portfolios. Founded by John Atkinson […]
