More than $600 million in funding went into Australian startups last quarter, and fintech took the most cash
Startup tracking service Techboard has compiled its first national numbers on capital raised in the Australian startup community, finding $625 million had been raised for the quarter ending June. The amount includes equity, debt facilities, acquisitions and grants for more than 100 startups and “young” tech companies less than 10 years old (or had a significant “pivot” in the past decade). “We put together our funding reports based on the data collected in the course of running the monthly Techboard Ranking, supplemented with intel from Techboard’s many investor contacts across the country,” co-founder Rafael Kimberley Bowen said. NSW led the states for most money raised, although if fintech ZipMoney’s massive […]
CoinJar is the Aussie enterprise bringing Bitcoin into the everyday realm
Although Bitcoin is one of the most widespread Internet currencies, it can seem intangible compared to EFTPOS or cash. CoinJar is a Bitcoin platform based in Melbourne which offers users a seamless way to pay for anything with digital currency. Making use of an EFTPOS card means that CoinJar isn’t only for online purchases, but can give consumers more choice about their daily purchases. With the core intention of transforming the way money flows within and between communities, CoinJar is used by 70,000 customers worldwide. Techly spoke to Asher Tan, the co-founder and CEO of CoinJar, about what makes the Aussie Bitcoin biz tick. Explain what CoinJar does, and why […]
ANZ is the first Big Four bank on both Samsung Pay and Apple Pay
ANZ has joined Samsung Pay, becoming the first of the big four Australian banks to be on all three major digital wallets. The bank had already been the only one of the majors to be on Apple Pay and was already available on Android Pay. “Samsung has strong device market share in Australia and many of our customers love its open approach to technology, so it made sense for us to work with them in bringing this convenient and secure mobile payments solution to our customers,” said ANZ product managing director Bob Belan. ANZ joins Westpac and a range of smaller institutions on the Samsung platform, which allows contactless payments […]
New fund Super Simplifier promises hybrid between traditional super and SMSF
Consumers using Super Simplifier can choose their own mix of investments from shares, hybrid securities, ETFs, listed investment companies and term deposits
Crowdfunding to offer new equity opportunity
The concept of crowdfunding is nothing new to many micro and small businesses, and those operating in the startup sector, but the way it applies will change from September 29. From that date, unlisted public companies with annual turnover and gross assets up to $25 million will be able to issue shares to the general public. The process will be similar to companies issuing a prospectus to raise capital ahead of a listing on the ASX, but in a way designed to make life easier for smaller businesses. This is a big change from the crowdfunding campaigns run through organisations such as Kickstarter, Pozible and Gofundme. Many of these campaigns […]
Australia joins the tech train with AI and Blockchain
Australia is currently seeing the first manifestations and ramifications of two of the business world’s key technologies: blockchain and artificial intelligence (AI). Both could fundamentally change how financial and professional operations are conducted in Australia. Currently, blockchain technologies are being explored through research and start-ups looking to implement the purely digital ledger. The Commonwealth Scientific and Industrial Research Organisation (CSIRO), the Australian government’s federal agency for scientific investigation, released a report last month exploring how blockchain could support the country, along with the risks it presents. In addition, in June, Melbourne hosted the Annual blockchain summit, while the newly formed Blockchain Association of Australia finished its first meeting on July […]
Bitcoin falls below $US2000 amid fight between miners and developers
Bitcoin fell below $US2000 for the first time since May amid anxiety its dominant status is under threat. As enthusiasts consider adopting competing updates to the blockchain technology that underpins the exchange method by the end of July, it has raised the possibility of the cryptocurrency splitting in two. Bitcoin has lost about a third of its value since peaking at about $US3000 last month. Calls for a revamp of the software come as exchanges struggled to keep up with rising volumes while the price almost tripled this year. Bitcoin isn’t the only one struggling as the two competing camps — miners and developers — are facing off over how […]
Crowdfunding platform Equitise to offer access to IPOs
Equity crowdfunding platform Equitise is now offering retail and sophisticated investors access to initial public offerings, as the platform also prepares for an influx of deals on the back of the first phase of the crowd-sourced equity funding legislation being enacted in September. The move into IPOs puts Equitise in competition with OnMarket Bookbuilds, which has been operating in the space since 2013, but Equitise co-founder Chris Gilbert believes they can co-exist. “There is space for two players in the market and the platforms operate very differently. We have the diversification to private equity as well, which will keep being a big part of what we do,” he said. “There’s […]
