10 Australian Fintech companies in the 2017 Fintech100
The Fintech100 represents the most innovative companies, creating products and services at the juncture of technology and financial services who are seeking to disrupt the existing processes and products that dominate the marketplace, with fintech companies from 29 countries featuring in this year’s 100. Congratulations to the Australian Fintech companies who made the H2 Ventures KPMG 2017 Fintech100 Top 50: 24. Prospa 37. zipMoney 44. AfterPay Touch And congratulations to the following Australian Fintech companies who made the Fintech100 Emerging 50: Airwallex Cover Genius Hyper Anna Macrovue MoneyMe Tic:Toc Valiant
We auction our home, clothes, art, cars – so why not auction our own money?
Fintech startup Lodex is a new competitive, auction-style loans and deposits marketplace that puts the power into the hands of the consumer. The world’s first auction-style platform allows the consumer to choose the winning lender or broker. Lodex is set to disrupt the way Australians borrow and save money by having lenders and brokers compete for their business. The auction-style platform allows consumers to anonymously share their Credit Score and the Australian-first, optional Social Score, to the marketplace and set up an auction from their smartphone in 10 minutes & watch ‘bids’ come in. This is a paradigm shift putting the consumers in the driver’s seat. Lodex, free for consumers, […]
Prospa first Australian fintech to deliver a half billion dollars of small business loans
Prospa, Australia’s number one online lender for small business, has announced the delivery of more than half a billion dollars into the economy, providing loans to over 12,000 small businesses across the country. Now in its sixth year, Prospa has scaled rapidly, today placing second in the Fast 100 for 2017 thanks a 239 per cent average revenue growth since 2013-14. The AFR’s Fast 100 ranks the fastest growing companies in Australia, and in previous years has included the likes of Atlassian, Lonely Planet, SEEK and WebJet. 2017 has been been a bumper year for Prospa, having secured over $50m in equity and debt funding. The firm announced […]
Brighte shines a light on new finance options
Innovative fintech companies have an opportunity to offer services banks can’t or won’t provide. Here’s how Brighte is doing that with interest-free finance for home improvements. Imagine having your hot water system break down and being told you need a replacement. How would you pay for it? What about if you want to install solar power but find the interest charges send your budget through the roof? It’s these types of issues that fintech startup Brighte is designed to address. Launched in 2016, the company offers homeowners an interest-free payment solution for home improvements up to $30,000. Company founder Katherine McConnell said this type of finance hasn’t been looked at […]
Australian Fintech companies amongst 2017 Finder Awards
Once again the 2017 Finder Awards was dominated by Australian Fintech companies, like they have done in previous years. Congratulations to all the Fintech winners: Best Investor Home Loan (PI 3-Year Fixed) UBank UHomeLoan Best P2P Personal Loan RateSetter 2 Year Personal Loan Best Personal Loan Pepper Money Unsecured Variable Personal Loan Best Personal Finance App Acorns Best Online Customer Service UBank Best Banking Innovation Spriggy Most Innovative Team Mario Hasanakos & Alex Badran, founders of Spriggy
SocietyOne takes leadership role on comprehensive credit reporting
SocietyOne, Australia’s pioneering and leading consumer finance marketplace lender, announced that it will provide positive consumer credit information to credit bureaus as part of the move to establish a fully-fledged comprehensive credit reporting (CCR) regime in Australia. SocietyOne will start sending secure data on its customers’ positive credit history in “public” mode from November 2017. With the Federal Government planning to toughen up the country’s existing CCR legislation in 2018, SocietyOne has thrown down the challenge to the major banks to quickly get on board with CCR and help all Australians get a better deal from their credit providers. Among the big four banks, National Australia Bank recently announced that […]
Melbourne ‘buy now, pay later’ fintech Openpay just raised $10 million and cancelled IPO
Openpay has completed a $10 million capital raising round, and revealed it has cancelled plans for an initial public offering. The $10 million, which was originally marked as a pre-IPO round, came from “a group of investors” that included existing backer Meydan Group, as well as Investec and SL Investments Group. The company did not comment on the reasons for cancelling the IPO plans. Business Insider understands that chief executive Simon Scalzo departed the company in August after less than a year at the helm, with chairperson Avi Schechter currently acting as the public face of the fintech. The latest investment also sees Investec head of emerging companies David Phillips […]
Australia a target for international fintechs
Australia’s wealth management industry is an attractive prospect for foreign technology firms and will likely see international players enter the market in coming years, a Microsoft report has found. The Moving Past Prosperity report, which the tech giant conducted in conjunction with Harvard Business Review, said that while payments and lending dominate the Australian fintech landscape, wealth management technology is growing rapidly, according to KPMG data. “Australia hosts the world’s sixth largest pool of funds under management, substantially filled by its compulsory superannuation scheme,” the report said. “With its potential for scale and cost savings through robo-advice, wealth management is expected to attract many international entrants.” Added to this is […]