ZipMoney lands largest debt facility in Australian fintech history with $260 million led by NAB
Sydney company ZipMoney has secured a $260 million debt facility led by the National Australia Bank, in what the startup claims is the largest such deal in Australian fintech history. ZipMoney announced to the ASX on Wednesday that the facility would consist of $200 million from NAB, $40 million through two-year bonds issued through FIIG Securities, and $20 million in junior notes and equity. An “immediate refinance of $70 million of existing receivables” will take place using the NAB facility, resulting in an instant reduction in interest for the business. The startup operates a “buy now, pay later, with no interest” service — integrating into online retail stores to reach […]
Winners at The Finnies!
Congratulations to those Australian Fintech companies and their fearless leaders who won awards last night at the inaugural Finnies Fintech Awards: Female Fintech Leader of the Year: Emma Weston, AgriDigital Co-Founder & CEO Joint Male Fintech Leaders of the Year: Greg Moshal & Beau Bertoli, Prospa Co-Founders Fintech Organisation of the Year: Afterpay Emerging Fintech Leader of the Year: Emma Weston, AgriDigital Co-Founder & CEO Emerging Fintech Organisation of the Year: Spaceship Best Fintech place to work: Prospa Best workplace diversity: Timelio Marketing Campaign or Brand Initiative of the Year: Equitise – Equitise Bubble Excellence in establishing Market Presence (Australia): BrickX […]
Link4 completes the set of cloud accounting marketplaces
eInvoicing is available to small businesses through the major accounting software marketplaces in Australia. Link4 secured a position within the marketplaces of the 6 main cloud accounting solutions in use by small business owners throughout Australia. These include, QuickBooks, Xero, MYOB, Reckon and Sage. Why is this important? Many software firms focus on supporting large organisations leaving small business owners with limited options available to them. But Link4 are committed to providing the latest technology solutions to save small business owners time and money. eInvoicing reduces the time spent on dealing with invoices by providing automation to both account payables and receivables processes. Being listed on all of the aforementioned […]
Tech bounty to outstrip negative cyber-effects
The international ransomware attack this month that ensnared more than 150 countries — including Australia — brings to mind an intriguing question: can we afford to openly embrace digitalisation? Anthony Wong prefers to approach the conundrum from the opposite direction: can we afford not to? As president of the Australian Computer Society, Mr Wong is constantly told of the risks of digitalisation: robots replacing workers, disrupters pushing industries to extinction and personal data shipped off to the highest bidder. While he doesn’t discredit those fears, he reckons such concerns are outweighed by the opportunity to find solutions, adopt new skills and create fresh industries. “Artificial intelligence, robo advice, driverless cars, […]
EY WAMTech PitchFest – Can Fintech solve some of the wealth industry’s biggest challenges?
The nation’s most innovative FinTech developers are being called on to help revolutionise the Australian wealth and asset management (WAM) industry by taking part in the inaugural EY WAMTech PitchFest. Supported by the Financial Services Council (FSC), the PitchFest calls on FinTechs to design innovative solutions to one of six problem statements, representing some of the biggest challenges faced by WAM providers today that new technology could solve. These challenges, identified via a survey of key Australian WAM industry participants including executives from the across the superannuation, funds management and life insurance sectors, include: Improving financial literacy Providing one touch access to wealth solutions Simplifying the process for […]
Bitcoin blows past USD$2,100 for the first time
Bitcoin is seemingly unstoppable right now. The cryptocurrency topped both $US2,000 and $US2,100 for the first time on Sunday night/Monday morning. It’s now trading up $US106.11, or 5.2%, at $US2130.69 a coin. Monday’s advance has been fuelled by further weakness in the US dollar, and news that Peach has become Japan’s first airline to accept the cryptocurrency, Bloomberg says. Bitcoin has gained in 24 of the past 27 sessions, and is up more than 82% over that time. According to CoinMarketCap.com, bitcoin now has a market cap of nearly $US35.9 billion. The rally has seemingly been sparked by news out of Japan at the beginning of April that bitcoin is […]
The shape of superannuation to come
The superannuation system has undergone sweeping changes in recent years and the dust has yet to settle. According to a finance software provider, tomorrow’s super system will look markedly different to the one we know today. In a recently released white paper, software company Bravura said Australia’s super system is likely to undergo a number of changes to meet the new regulatory environment and the advancement of modern technology. The role technology is slated to play in the delivery of superannuation services in coming years is likely to increase drastically, the company said. Super funds will be able to collect “unprecedented” amounts of data from their members and use this […]
Australians quick to embrace fintech financial solutions
One third of Australians believe they’ll use a tech company for the majority of their financial needs within five years. While many people around the world feel they need to stick with their bank, out of a sense of loyalty, or simply because they’re unaware of their options, this isn’t the case in Australia. Australians are among the most likely to seek alternatives to the mainstream banks, according to TransferWise’s Future of Finance Report, out today, which surveyed 20,000 people around the world. The report also revealed Australians are early adopters of fintech solutions; that is, anything from PayPass and Tap and Go contactless payments to digital wallets such as […]
