New online platform ESIC Hub to accelerate benefits for early-stage companies and investors
A new online platform – ESIC Hub – is the first in Australia for high net worth investors and early-stage companies seeking to secure hundreds of thousands of dollars in new tax relief and funding. From this month, high net worth and sophisticated investors, including SMSFs, are eligible for new tax incentives of up to $200,000 a year when they invest in an early-stage investment. However, under new legislation, the company seeking the funding must qualify as an “ESIC” or “Early Stage Innovation Company”, or the investor will miss out. ESIC Hub founder Stephen Crowe, who has advised multi-national and Australian firms for more than 30 years, […]
Rubik expands footprint in Asia with Bank Alfalah Agreement
Australian listed fintech, Rubik Financial Ltd (ASX:RFL) is pleased to announce it has signed an agreement with Bank Alfalah, one of the leading banks in Pakistan, to implement its collections platform, CWX. The agreement brings the total to 5 out of the top 7 banks in Pakistan using CWX and reinforces the company’s market leading position in collections software in many Asian and Middle Eastern countries. Rubik also partners with leading banks in both Dubai and Abu Dhabi. Rubik is joining forces with longtime banking partner Temenos, the recognised global leader in digital and core banking software, on the Bank Alfalah project to integrate its CWX solution with Temenos’ core […]
Entersoft takes top award as best innovation in cyber-security & antifraud
Application security startup, Entersoft emerged victorious as the best innovator in cyber security and antifraud at the 2016 Australian Fintech Awards for their cloud-based virtual hacker, which assesses various applications for security loopholes. Paul Kang, Director of Entersoft, cited cybersecurity as a growing concern, with no market more directly impacted by its rise than FinTech. “Financial data is a premium target for hackers, offering clear financial incentive for their malicious attacks. And, as hackers become increasingly sophisticated, FinTech organisations are more and more at risk.” “Our approach is a combination of offensive assessment, proactive monitoring and pragmatic managed security which provides highly cost effective and reliable solutions to […]
Crowdfunding firm CoAssets to test market
Technology-related floats are suddenly finding it challenging on the stockmarket: two recent IPOs have had dramatic outcomes for local investors. Music streaming website Guvera had its IPO closed down recently and the group has placed two subsidiaries in administration and is working on a rescue plan. Separately, the fortunes of financial services tech group ChimpChange, while less dramatic, revealed a pretty poor picture this week after the group that offered shares at 80c is now trading on the ASX at about 57c. No wonder there will be plenty of attention focused on CoAssets when it lists this week. CoAssets is an Australian software company focused on peer-to-peer lending and crowdfunding. […]
Stockspot lowers fees but reduces honeymoon period
Robo-adviser Stockspot has halved the period of its free introductory offer for savers with less than $10,000 but has compensated clients with lower fees thereafter. Stockspot has reduced the initial fee-free offer for savers with small balances to six from 12 months. Thereafter, instead of charging a $77 annual advice fee plus a 0.92 per cent management fee, the automated advice platform has introduced a flat $79.20 annual management fee. The new fee model comes as competition in the robo-advice sector heats up, with recent launches of competitors such as Superstash and Six Park, which is backed by former federal finance minister Lindsay Tanner, founding head of the Future Fund […]
Forex fintech Airwallex secures US$3m from Alibaba’s VC firm
Fintech startup Airwallex has strengthened its Melbourne and Chinese development teams and accelerated R&D of its international payments platform following a US$3 million pre-Series A investment round led by Shanghai-based VC Gobi Partners. Gravity VC as well as angel investors Huashan Capital One and Billy Tam (CEO of Easylink Payments, the company behind Chinese payment powerhouse PAYECO) also participated in the fundraising. Currently in beta trial stage, the Airwallex platform is powered by a peer-to-peer algorithmic engine that enables businesses to issue and pay invoices in their preferred currency at the mid-market foreign exchange rate, avoiding inflated bank margins and minimising currency fluctuation risks. Airwallex Co-Founder and […]
H2 Ventures Fintech Expo 2016
H2 Ventures Fintech Expo 2016 H2 Ventures are hosting its third annual Fintech Expo, an opportunity to hear from some of the most talked about and exciting Fintech companies in Australia. Tuesday 19th of July 2016 Get your tickets here: http://h2vfintechexpo.eventbrite.com.au/ Save Save
Fintech losses blamed on rerating
DirectMoney chief Peter Beaumont yesterday defended the fintech company’s stockmarket listing and expressed disappointment over losses worn by shareholders, arguing there were many benefits and the sector globally had suffered a de-rating. As DirectMoney prepared to open a fresh $5.7 million capital raising, Mr Beaumont said marketplace and peer-to-peer lenders had been revalued in the past year, citing the more mature US market where industry icon LendingClub saw its shares plunge 70 per cent. “We’re disappointed there were investors that came in at higher prices and have had capital losses at this point, but marketplace lending globally has experienced a resetting of valuations, whether it’s LendingClub in the US or […]
