Afterpay lands in the US, keen for a slice of $3.8 trillion market
Afterpay (ASX: ATP) has taken its first steps into the United States market through a landmark deal with the parent company of consumer lifestyle brand Urban Outfitters. This week the company launched its payment plan services across the URBN network, which includes brands Anthropologie, Free People and Urban Outfitters, comprising one of the largest fashion and lifestyle retailers in the US. URBN boasts a total sales volume of US$3 billion across its bricks and mortar and digital channels, a figure equal to roughly the size of the entire Australian online fashion market. Afterpay says the US market represents a substantial opportunity for its business, as retail sales exceeded $3.8 trillion […]
Fatfish Internet Group secures new cryptocurrency mining site
The new cryptocurrency mining site is expected to be operational within three months. Fatfish Internet Group Ltd’s (ASX:FFG) 51%-owned APAC Mining Corp has secured a new industrial site in Montreal, Canada, that will be converted to a cryptocurrency mining operation. APAC Mining currently mines Bitcoin, Ethereum, Dashcoin and Litecoin through its mining operations in Malaysia. Mining cryptocurrencies is electricity-intensive and Montreal is located in a hydro-powered state with one of the lowest energy rates in the world. The new Quebec site will have a total energy capacity to power up to 700 cryptocurrency mining servers. APAC plans to secure more sites with the region Fatfish’s CEO Kin Wai Lau said: […]
These Aussies are flying the flag at the US’s biggest crypto and blockchain conference
Blockchain companies and cryptocurrency traders are in overdrive this week as the industry’s most hyped conference gets underway in New York. The CoinDesk Consensus 2018 conference has tripled in size from last year with 250 speakers. And it’s even sparked a boon for bitcoin holders — with the digital token’s price climbing up from a three-week low as soon as the lambos rolled in. At about $2000 a ticket, the conference brings together the industry’s best and brightest — including a contingent of Aussie companies on an Austrade tour. Austrade senior investment specialist Kevin Cryan points to major blockchain projects in Australia by the ASX, Australia Post and CommBank. “There […]
FinTech Australia announce finalist for The Finnies 2018
FinTech Australia and Jobs for NSW have come together for the second year to host the national fintech awards, The Finnies. The Finnies will culminate in a Gala Awards Night Wednesday 13 June 2018 in Sydney. For more information go here. Here is the full list of finalists for the 2018 Finnies: Best Workplace Diversity ● BRICKX ● FirstStep Investments ● Link4 ● Valiant Finance Emerging FinTech Leader of the Year ● Brad Delamare – CEO, Tank Stream Labs ● Louis Edwards – Head of Renewable Energy Finance, RateSetter Australia ● Nick Molnar – Co-Founder & CEO, Afterpay ● Jack O’Reilly – Director, funding.com.au ● Rebecca Schot-Guppy – Community Manager, […]
Macrovue thematic global share portfolios available as SMAs via Praemium
Thematic global share investing business Macrovue announce the first 3 of its 22 managed portfolios are available as SMAs via the industry-leading managed accounts platform, Praemium. Thematic portfolios are becoming more and more important for advisers to consider when thinking about a client’s overall portfolio. Having the Macrovue thematic global share portfolios available for advisers delivers leading investment solutions and global diversification for advisers managing clients’ investments. Macrovue’s investment management fee of 80bps with no performance fees provides access to global markets at reasonable cost for clients. Leveraging the more than 50-years’ global stock-picking experience of the Macrovue Investment Team, Macrovue’s portfolio construction process combines inputs from a proprietary quantitative […]
Ease of use powers take-up of the Moneysoft Lite cash flow solution
Time poor advisers and their clients have embraced the streamlined version of Moneysoft’s personal financial management tool, with Moneysoft Lite growing to 20% of active users in less than two years. One in five Moneysoft subscribers now uses Lite, which was launched in late-2016. It caters to advisers and other finance professionals who want a simple, cost-effective way to introduce ‘cashflow as a service’ to their clients. The Lite platform enables advisers to build engagement with different types of clients at varied stages of the financial life cycle, said Neil De Beger, Moneysoft’s head of distribution and marketing for SME. “People want to have clear visibility of their finances without […]
HashChing puts its hand out to go it alone
Online mortgage marketplace HashChing is looking to raise up to $5 million by the end of June through the power of crowd-funding, in a bid to ensure that it is immunised from the influence of any big bank, says CEO Mandeep Sodhi. Instead, HashChing has partnered with equity crowd-funding platform Equitise to issue its first round of shares to interested investors. According to Mr Sodhi, the crowd-funding route will help HashChing remain an independent voice in the mortgage market. “Unlike many other online mortgage platforms who are backed by a lender, we are and will continue to stand separate from the banks,” he said. “We want our customers to become […]
Westpac puts another $50 million into VC fund Reinventure
Westpac Banking Corp has triple-downed on its corporate venture capital fund Reinventure Group, investing a further $50 million into a third fund to bring its total commitment to early stage fintechs to $150 million. A week after Westpac CEO Brian Hartzer described the 20 start-up investments made by Reinventure’s first two $50 million funds as a new “strategic asset” for the bank, Westpac is providing Reinventure co-founders Danny Gilligan and Simon Cant with an additional $50 million to be invested under a more flexible structure. The third fund will consist of a unit trust stapled to an early stage venture capital limited partnerships (ESVCLPs), a new structure that will allow […]
