Bell Potter pitches fintech Raiz Invest for $120m listing
The initial public offerings are starting to flow thick and fast out of Bell Potter Securities. Next up is a $15.1 million raising for fintech Raiz Invest Ltd which, if successful, would see the company list with a $119.2 million market capitalisation next month. Raiz Invest is the new name for Acorns Grow Australia, a micro-investing app out of the United States that has been operating locally since February 2016. It is best known for its “round up” offering, which enables customer to invest their virtual spare change automatically. It says its app also acts as a personal finance assistant for users and allows customers to make lump sum deposits into managed funds and other financial products. Raiz […]
Neo-lender Wisr’s loan origination growth
Neo-lender Wisr Limited (ASX: WZR) is pleased to report on its strengthening personal loan lending portfolio and credit quality position, as at 31 March 2018. The Company’s origination of personal loans grew by 42% in FY18 Q3 when compared with the previous quarter. This was the Company’s largest quarter in loan originations since Wisr, formerly known as DirectMoney, began in 2014. This continues the Company’s significant loan origination growth in FY 18, with loan originations growing quarter-on-quarter by 20% (FY18 Q1) and 79% (FY18 Q2). In the period since Wisr announced a significant restructure in 2016 – which included a new Chairman, new CEO, key executives and business direction – […]
SelfWealth growing in the face of finance industry’s woes
The banking royal commission is currently underway and it’s fair to say that the stories emerging are nothing short of shocking. There’s endless tales of woeful and deceitful financial advice — so bad in fact that that it has even led to families losing their homes. It’s also come to light that for years financial planning groups have been unlawfully deducting service fees from customer accounts, even falsifying documents. The disturbing findings coming out of the banking royal commission should encourage many Australian investors to take more control over their investments and financial wellbeing. Amidst this turmoil has emerged an innovative solution for people wanting to take control of their […]
ASX details timeline, features for new blockchain-inspired system
ASX Limited, the operator of the Australian Securities Exchange, has released new details of the system inspired by Bitcoin’s blockchain technology that will replace CHESS: The ASX’s Clearing House Electronic Subregister System. CHESS provides clearing, settlement and other post-trade services for the exchange. ASX in early 2016 revealed that it had acquired a stake in New York-headquartered Digital Asset Holdings, which develops blockchain-inspired distributed ledger technology (DLT). The intention was to explore whether a DLT-based system could potentially replace CHESS, which was originally rolled out in 1994. Although the exchange operator has emphasised that CHESS is stable and continues to function effectively, ASX says that replacing it with a blockchain-style […]
How SelfWealth’s MD got his startup IPO-ready
Startups contemplating an IPO must have all their ducks in a row and be willing to get their hands dirty, says Andrew Ward, founder and managing director of recently-listed fintech company SelfWealth. Launched in 2012, the online, cloud-based share trading platform offers investors flat fee brokerage, regardless of the trade size, as well as access to SelfWealth PREMIUM, a social network where share portfolios can be compared and constructed. “In an Australia-first, we’re allowing users to leverage the power and wisdom of the crowd when making investment decisions,” Ward told Dynamic Business. “Being the first to market in this space has created a powerful barrier to entry for other competitors, […]
DigitalX advances crypto market intentions with crypto-asset investment fund and news sources
DigitalX (ASX: DCC) is back trading on the ASX after coming out of a self-imposed trading halt. The reason for short-lived market hibernation was the launch of its newly-founded investment division and “crypto-asset” investment fund, DigitalX Investments, to be led an managed by former Goldman Sachs Associate Director Tim Davies. As an emergent fintech provider DigitalX has made headlines in recent months after netting several high-profile corporate advisory clients linked to the emergent growth of cryptocurrencies and their associated initial coin offerings (ICOs). Its activities and market achievements have seen the company’s value swell to almost A$100 million by market capitalisation, framed within the larger interest in distributed ledger technology […]
Novatti launches brand new payments bridge between Australian BPAY and Chinese Alipay
The international online payments landscape is rapidly evolving as yet another ASX-listed payments processor, Novatti Group (ASX: NOV) announced the launch of a bill payment service, able to bridge the gap between Australian supply and Chinese demand. Novatti announced the launch of its new bill payment service chinapayments.com, a financial technology (fintech) platform enabling consumers to pay bills via Australia’s BPAY system, using funds from their Alipay wallet. The race for payments dominance in Australia is truly on with several companies now vying to become the go-to brands to court Chinese customers. Last month, Smartpay (ASX: SMP) struck a deal directly with Alipay, with the deal bringing together the largest […]
PrimaryMarkets offers liquidity for local unicorns
PrimaryMarkets is a platform for delivering liquidity to unlisted securities and investments, matching buyers and sellers in a secure controlled environment.
