Challenging the big banks
Atlassian’s co-founder Mike Cannon-Brookes jokes that he loves the famous quote from Amazon’s founder, Jeff Bezos: “Your margin is my opportunity.” Bezos has created one of the world’s biggest and most successful retail giants using that approach. Atlassian’s spectacular global growth as a start-up software company from Australia shows that Cannon-Brookes has been able to adopt a similarly disruptive style. But one of Cannon-Brookes’ key targets in terms of taking advantage of margin and opportunity remains Australia’s big banks. It also made him an early supporter of Tyro Payments and now of chief executive Jost Stollman’s determination to challenge the power of the banks with Tyro’s new banking licence. To Cannon-Brookes, […]
Former MFAA CEO joins HashChing
A finance and logistics executive and former MFAA chief executive officer has joined the advisory board of mortgage marketplace and home loan deal gateway HashChing. Siobhan Hayden, who resigned as chief executive of the MFAA in June this year, has joined the advisory board of online home loans trader HashChing. It’s the third top executive the emerging fintech has secured in recent weeks. Financial services regulatory lawyer Claire Wivell Plater and financial service senior executive Helen Lorigan also joined the fintech’s advisory board recently. Ms Hayden commented that HashChing has the potential to significantly change the home loan market in Australia. “HashChing sits at the intersection of customers, brokers and lenders — […]
New FinTech Uno Home Loans lands a $16.5 million investment from Westpac
New Australian FinTech company ‘Uno’ has landed a $16.5 million investment from Westpac after its success in the digital mortgage service in the past few months. The major bank investment is set to expand the company even further as customers are discovering the benefits of having a greater power in the home loan search process. Chief Strategy Officer at Westpac, Gary Thursby, said “uno’s success has been impressive and we’re seeing its potential to become a serious player in the home loan market”. Westpac has been involved with uno since the concept phase and Mr Thursby is pleased to announce the investment where Westpac will be a strategic investor at […]
zipMoney has grabbed fintech Pocketbook in a $7.5 million deal
Digital retail finance and payment industry player zipMoney has bought personal finance management app maker Pocketbook. The deal includes $6 million upfront and another $1.5 million, depending on a set of milestones. The acquisition strengthens zipMoney’s position in Australia’s fintech sector. A short time ago, zipMoney shares were up 5.7% to $0.74. All Pocketbook staff will be retained including the founders, Alvin Singh and Bosco Tan. zipMoney will gain valuable data analytics on consumer behavior from Pocketbook’s large and growing user base, further enhancing its proprietary credit and fraud decision technology. Click link below to read more Source: zipMoney has grabbed fintech Pocketbook in a $7.5 million deal | […]
This $55 million ASX fintech fund is Australia’s first listed venture company
Seed funding venture capital specialists Ben and Tony Heap today launched H2Ocean, an ASX-listed vehicle to raise up to $55 million for the fintech startup market. The prospectus, offering $1.10 shares to raise between $27.5 million and $55 million, is now live and is being led by Ord Minnett and Shaw and Partners. The float, due to list around October 19, was launched by treasurer Scott Morrison. Joining the brothers on the board are financial journalist David Koch, former federal MP Wyatt Roy and Anne O’Donnell, a former CEO of Australian Ethical Investment. Ben, the chairman, told Business Insider the company is a first to list on the ASX. “This is […]
RateSetter announces partnership with Purplebricks
This week we were very pleased to announce an exciting new partnership with disruptive real-estate agency Purplebricks. Having launched in Australia this week, Purplebricks lets homeowners sell their property for a flat fee of just $4,500, including professional photography, marketing costs and the services of a Local Property Expert to guide them through the sale process. Purplebricks is now the the fastest-growing real estate agency in the UK and their low-cost offering is expected to similarly shake up the Australian real-estate market and put end to three decades of commission-based remuneration for real estate agents. As part of its innovative offering, Purplebricks has partnered with RateSetter to offer customers the opportunity […]
Fintech moves in when banks fail their customers
In November the Monetary Authority of Singapore will hold a major fintech festival as part of the regulator’s push to promote financial services technology. It’s all part of what broker CLSA calls the Singapore government’s $35 billion campaign to promote technology in the country. A recent Ernst & Young report ranks Singapore fourth overall behind Britain, California and New York in terms of global fintech ecosystems. Australia came in fifth in the survey, behind Germany but ahead of Hong Kong. Australia ranked third behind Britain and Singapore in terms of fintech policy, including regulatory regimes and tax policy. It ranked fifth in terms of talent and capital and seventh in […]
Australian FinTech, Media Partner for LendIt Europe
Australian FinTech is delighted to be a Media Partner for the upcoming LendIt Europe conference, taking place on October 10-11, 2016 in London. We’re very excited to be part of this event and encourage you to attend if you have not already registered. As a LendIt Europe media partner, we are able to offer you an exclusive discount on LendIt Europe 2016 passes. Use the promo code AF16VIP when registering to receive 15% off your ticket. Register Now: http://bit.ly/29ZSvTm Partnered with the P2P Finance Association, LendIt Europe is Europe’s largest conference for the online lending community, with 1000 attendees expected in 2016. Confirmed speakers include: […]
