H2 Ventures hosts fourth annual Sydney Fintech Expo to support aspiring start-ups
H2 Ventures together with the ASX and Investec Australia, will today host the fourth annual H2 Ventures Expo. Fintech industry leaders and investors will join H2 Ventures, one of Australia’s leading fintech investment firms, at its annual Fintech Expo which aims to bring together a collective of early stage venture capitalists, entrepreneurs and thought leaders to promote growth and continue to drive change in the financial series industry in Australia. The Expo features a panel discussion with industry leaders, discussing the state of the Ecosytem. The panel includes Elaine Stead of Blue Sky Funds, Katherine McConnell of Brighte and Wyatt Roy of Afiniti, moderated by Cathy Kovacs from […]
DomaCom launches two crowdfunding campaigns
DomaCom has launched two crowdfunding campaigns that will seek to raise $6 million and $4.3 million, respectively, that will offer investment opportunities in affordable housing for the retirement sector and clean energy infrastructure and jobs in regional Australia. The first campaign, Akuna Residential Estate, which would seek to raise $6 million with $1.4 million already pledged, would aim to provide affordable housing for the ageing population. According to the company, the money would be used to purchase the land in Cobram, complete development approvals and build the community facilities. Following this, the developer would build and sell 147 houses on a Residential Land Lease Community (RLLC) model. The project was […]
Blockchain upgrade helps avert split in Bitcoin
A software revamp will help address transaction limitations in the cryptocurrency. Bitcoin has managed to avoid being split into two separate currencies after its community reached an agreement to significantly upgrade the capabilities of its underlying blockchain network. A compromise was reached between the developers behind Bitcoin and the mining community, which had become divided over how to improve the technology, with some fearing that the currency could be split into two different blockchain networks. Miners of the cryptocurrency issued overwhelming support for a software upgrade known as the Bitcoin Improvement Proposal (BIP) 91 last Friday, which is the first in a series of steps attempting to address the processing […]
RBA study finds cards are king, overtaking cash for the first time
Credit and debit cards have overtaken cash as the most frequently used consumer payment for the first time, as food retailers and ridesharing apps such as Uber offer more cashless payment options. Cards were the most frequently used means of payment, accounting 52 per cent of consumer payments, followed by cash at 37 per cent, according to the Reserve Bank’s consumer payments survey released on Tuesday, which surveyed 17,000 day-to-day payments made by over 1500 participants during a week. A decade ago, cash accounted for nearly 70 per cent of consumer transactions, and cards 26 per cent. The RBA said credit and debit card use increased across the board in […]
Do fintech platforms spell the end of banking as we know it?
There are around 400 fintech companies in Australia at the moment, as a country we’re ranked fifth in the world for fintech adoption, and our use of mobile banking apps doubled in the last two years. So do emerging fintech platforms spell the end of traditional banking as we know it? According to a Swift Institute report on the API economy and digital transformation in financial services, the days of big banking aren’t over – but there are plenty of changes coming in the way we manage our finances. Collaboration is key Rather than fintech companies replacing traditional banks, it seems collaboration between the two may be the future of […]
This Australian Bitcoin exchange startup just raised $815,000 to expand globally and add Ethereum to its platform
An Australian Bitcoin trading startup has secured $815,000 in a series A round it says was oversubscribed by double the original target amount. Melbourne-based Bitcoin.com.au that allows everyday Australians to buy and sell Bitcoins — including the ability to have cash handed over at more than 1,200 physical locations including Commonwealth Bank and Westpac branches, and selected newsagents. Business Insider understands the startup was seeking $500,000 for the round, but ended up having more than $1 million offered to it for overseas expansion and diversification into different types of cryptocurrencies. Bitcoin.com.au was formed in 2015 and charges a 5% fee on the spot rate to generate revenue. Sydney’s Alium Capital […]
Search for 2017 Fintech 100 innovators kicks off
Nominations are now open for the 2017 KPMG & H2 Ventures Fintech 100, the annual list designed to recognize leading fintech innovators. Visit www.fintechinnovators.com by Thursday, 31 August 2017 and nominate your company, or any fintech you think should be considered for the Fintech 100. The Fintech100, available at www.fintechinnovators.com, is compiled by fintech investment firm, H2 Ventures in collaboration with KPMG’s Global Fintech practice. The annual Fintech 100 includes both the leading 50 established fintechs, and the most intriguing 50 “emerging stars.” How to nominate and the judging process: Nominations for the Fintech 100 can be made at www.fintechinnovators.com website by Thursday, 31 August 2017. […]
Fintech the future
According to Kate Carnell, there have been less than 10 complaints about fintech operators in Australia since March 2016. “None of these have been fully-fledged complaints,” the small business ombudsman says. “It was more a misunderstanding or even confusion as to the contract they entered.” Burgeoning industry There are an estimated 600 fintech operators in Australia. The industry is burgeoning and continues to attract new players, so receiving less than double-digit complaints in 16 months isn’t a bad track record. “In addition to those 600 there’s probably another 20 to 30 overseas-based fintech companies that are operating here such as PayPal, Stripe and Square, for example,” says Cameron Dart, Australian […]
