What a peer-to-peer business loan looks like
RateSetter’s most recent release of its loan book data reveals the new age of business lending. In the one month since the launch of its business lending arm, peer-to-peer (P2P) lender RateSetter has funded nearly 100 business loans. The latest release of its loan book data, which includes every loan originated through RateSetter since its launch in later 2014, includes these business loans, and provides us with a snapshot of what alternative business finance looks like in Australia. Business owners have been embracing lenders outside of the Big Four and other more traditional lenders. According to a recent survey by eBroker, more than $1.1 billion worth of loan applications has […]
SocietyOne, Australia’s leading marketplace lender, appoints new board director
SocietyOne, Australia’s leading marketplace lender, today announced the appointment of Brett Clegg to its board as a non-executive director. Mr Clegg is Managing Director of News Corp Australia’s Community Publishing division. Among his responsibilities are its community titles in Sydney, Melbourne, Brisbane, Perth, SMB digital marketing services provider newsXtend, and the company’s investments in a range of disruptive technology companies including hipages and Sports Technology Group. Prior to spells with News Corp’s The Australian newspaper where he was deputy chief executive and later Fairfax Media’s CEO and Publisher of the Financial Review Group, Mr Clegg was a journalist, columnist and senior editor on the Australian Financial Review. He […]
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, […]
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 […]
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 […]
Crowdfunding start-up DomaCom eyes $100m ASX float
DomaCom, the company that shot to prominence with a crowdfunding campaign to acquire the property assets of the iconic Kidman Station empire, is looking to float as a near $100 million company on the Australian Securities Exchange. The ambitious group is hoping to ride the worldwide popularity of crowdfunding which it has used to set up real estate funds and it plans to extend its reach into the corporate bond market and equity release products. Company founder, Arthur Naoumidis, who also set up the now listed portfolio technology provider Praemium, had previously flagged plans to raise $100m through a float last year but the timing of the IPO was pushed […]
nura breaks Aussie Kickstarter record with world-first headphones
Melbourne startup nura has officially broken a record to become the most funded Australian Kickstarter campaign ever, reaching a current total of AU$1.2 million in pledges, with 12 days to go, for its world-first invention — headphones that learn and adapt to your unique hearing. Globally, less than 1 per cent of Kickstarter projects reach funding of more than US$1 million, and nura is well on track to join this group. The average Kickstarter attracts approximately 3 per cent of backers from Australia, but almost 20 per cent of nura’s backers are Australian. There are currently more than 5,500 Australian projects on Kickstarter, across creative categories including film, music, art, theatre, games, […]
