LoanDolphin completes $1.1 million seed funding
LoanDolphin, Australia’s leading loan bidding platform, has successfully raised a total of $1.1 million from key investors to expand its presence in major capital cities in a bid to claim a stake in Australia’s $1.5 trillion home loan market. Strategic investor Barry Lambert provided $1 million, with the remainder from fintech investment firm H2 Ventures. Mr Lambert founded Count Financial in 1980 and sold the company to Commonwealth Bank in 2011 for $373 million. The seed funding values the Sydney-based fintech startup at $5 million post capital raising rounds. LoanDolphin is a free online platform for people to refinance or obtain new home loans at rates […]
EY FinTech Australia Census 2016
FinTech Australia and EY Sweeney release the most comprehensive analysis of Australia’s fintech ecosystem to date, the EY FinTech Australia Census 2016 FinTech Australia and EY Sweeney are today releasing the inaugural EY FinTech Australia Census 2016, the most comprehensive and detailed report on the Australian fintech industry to date. The research was formally launched in Melbourne today by EY’s Anita Kimber at FinTech Australia’s national summit, Collab/Collide 2016 in partnership with LaunchVic. This significant piece of research was commissioned by FinTech Australia as part of their efforts to foster a thriving fintech ecosystem in Australia. The report identifies important characteristics of the Australian fintech industry, and establishes a set […]
Prospa reaches $200 million milestone
Australian leading fintech, Prospa, announced the company has hit $200 million in loan originations – cementing itself as the leading force in Australia’s non-bank finance sector. The milestone announcement coincides with the company securing additional capital from a large local institutional funder for its latest financing round, taking total capital raised to over $100 million. Beau Bertoli, Joint CEO of Prospa, said the additional $50 million debt capital raising is part of Prospa’s strategy to scale operations. “This is a significant milestone for our business. It means we can meet increasing demand from small businesses for fast, easy access to finance. And it means we can continue […]
Fintech platform launches new digital loan push
To digital mortgage service uno, the ideal customer is one who doesn’t want to discuss home loans face-to-face or over the phone. “Traditional brokers are for people who want to go see someone face-to-face or have someone come to their house,” uno founder and chief executive officer Vincent Turner told Australian Broker. “For people who don’t want that, they’re going to find a digital mortgage service like uno as more suitable for their needs.” The firm’s recent marketing push – including an ad in which prospective buyers inspect a house in which some rooms are closed off – highlights the public’s feeling of not receiving all the necessary information on […]
Australians are using P2P loans to consolidate debt
New data from P2P lender RateSetter shows an average loan of $20,666. Peer-to-peer (P2P) lending, while having first been introduced in 2012, is still a new concept to many Australians. However, the idea seems to be catching on. The P2P lending space is becoming more competitive, with new lenders being announced all the time, and more Australians are starting to take advantage of the competitive rates on offer. According to new data, these rates are being utilised by borrowers looking to reduce the interest they’re paying on current debts. P2P lender RateSetter has released an update of its loan book data, which contains details of every loan originated since 2014. Previous […]
Morgan Stanley’s Jeffrey McMillan says collaboration is key in fintech
It makes more sense for a global banking giant such as Morgan Stanley to collaborate with innovative fintech start-ups than to try to be innovative itself, according to the bank’s chief analytics and data officer, Jeffrey McMillan. “Probably 75 per cent of our technology that we build is coming from the fintech sector,” Mr McMillan told The Economist’s Finance Disrupted conference in New York. “We don’t really want to be innovators — that’s not what we’re really good at. “We have $US2 trillion ($2.8 trillion) of assets, 2.2 million customers, 16,000 advisers and that’s our intellectual capital. But we’re not known for being nimble and quick. ”But the bank wants […]
Prospa and The Entourage combine to inspire small business owners
Prospa, Australia’s largest online lender to small business, has launched an innovative partnership with educator The Entourage that enables business owners and budding entrepreneurs to fund education through their business cashflow. The partnership will enable business owners to access The Entourage’s Launch, Build and Scale education programs and advice from leading entrepreneurs using an interest free loan from Prospa, instead of a large upfront payment, credit card or expensive personal loan. Beau Bertoli Joint CEO of Prospa said “It’s amazing that two of Australia’s entrepreneurial success stories are partnering to offer Australian small business owners and fledgling entrepreneurs access to finance and education. “Prospa and The Entourage have the same […]
Fintech SME lender GetCapital heads to New Zealand
The Australian lender is now able to service New Zealand SMEs through a Lending as a Service partnership. GetCapital, a leading Australian fintech lender that specialises in small- to medium-sized businesses, is expanding internationally through a strategic partnership. The partnership with New Zealand lender Avanti Finance will see the licensing of GetCapital’s technology and underwriting via a Lending as a Service (LaaS) model. This is believed to be a first for an Australian lender. GetCapital‘s CEO Jamie Osborn said expanding into the New Zealand market was the next logical step. “With the large number of SMEs in New Zealand facing the same challenges as the Australian market, we are excited […]
