May
09
YOZO a quick and open answer to the business lending maze
YOZO is redefining lending for small business by offering a transparent and seamless experience for their borrowing needs.
Apr
30
Wisr delivers record loan origination growth on the back of an oversubscribed capital raise and multi-product business momentum
Wisr Limited (ASX: WZR), Australia’s first neo-lender, grew new loan originations to a record $18.8 million last quarter, the Company announced as part of its Q3FY19 business update.
Apr
17
Federal Election is no Easter treat for Australia’s small business community
New research commissioned by OnDeck, a leading online SME lender, confirms that Anzac Day’s proximity to Easter combined with the upcoming Federal election will negatively impact many SMEs. The stars have aligned for the nation’s employees, who can look forward to a 10-day holiday at the cost of just three days’ annual leave, thanks to this year’s confluence of Easter and Anzac Day. However, it’s not so positive for SMEs, which are already bracing for the impact of the Federal election. The research found that 59% of SMEs surveyed say their business has been impacted by previous major political events, notably elections. Over one in four (27%) SMEs expect the […]
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Apr
16
Australian FinTech company profile #6 – Crowd Property Capital
Company Name: Crowd Property Capital Website: www.crowdpropertycapital.com.au Key Staff & Titles: David Lovato - Founder Location(s): Sydney In one sentence, what does your fintech do?: CPC is a prop tech introducer, our platform allows superior reach resulting in better deals for developers looking for non bank development funding solutions. How / why did you start your fintech company?: To fill the gap that has emerged from the traditional banks tightening credit. What the best thing your company has achieved or learnt along the way (this can include awards, capital raising etc)?: Success is all relative, hard work and passion about your product is key. What's some advice you'd give to […]
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Apr
15
Rejected by banks: SMEs struggle to secure finance
Research commissioned by OnDeck, a leading online SME lender, highlights the problems that small businesses face trying to secure finance. Two out of five SMEs surveyed have sought finance in the past. However, almost one in four (23%) have been knocked back by their bank. Rejection rates rise to 37% among businesses that have been in operation for less than five years. Noah Breslow, Global CEO of OnDeck, says, “What is particularly concerning, is that one in three SMEs rejected for bank finance have had to reach out to family or friends for funding, or have simply resorted to using a credit card.” Lengthy finance approvals hurt SME operations […]
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Apr
15
P2P borrowing up 45% year on year
Recent surveys conducted by ASIC have made it clear that the peer-to-peer (P2P) lending marketplace is continuing to grow in conjunction with the increasing demand for alternative funding sources. During the 2017-18 financial year, new P2P borrowing increased 45% to $433m, and outstanding loans were up 59% to $518m. While these numbers have “increased significantly” from the 2016-17 figures, the data did indicate a slight slowing in the rate of investor and borrower growth, according to ASIC. Respondents reported a total of 13,446 investors and 31,421 borrowers in the P2P space as of June 2018. In 2017-18, a total of $352m was invested in the platforms surveyed. To read […]
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Apr
12
Champion lender Jacaranda Finance sets a new pace for the fintech industry
Milton based lender Jacaranda Finance has been named the Champion of Financial Services at the Australian Small Business Champion Gala Dinner and Awards Ceremony on Saturday the 6th of April. Held at Sydney’s The Star Casino, with over 1,100 guests in attendance, Jacaranda was publically recognised as a champion small business, and an up and coming financial services provider. With over 2,000 outstanding applicants all round, an award like this is no easy feat. ‘We definitely did not expect to win!’ says Daniel Wessels, CEO of Jacaranda Finance. “The competition was fierce and all of the applicants should be extremely proud to have been nominated,” he continued. ‘With over 4,000 […]
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Apr
12
HashChing outlines new funding plans
The COO of digital mortgage marketplace HashChing has revealed the company is repeating last year’s fundraising exercise after failing to achieve its $5m target. Last May, HashChing attempted to use equity crowdfunding space Equitise to raise $5m in a month and a half. Interested investors could back the fintech for as little as $250. However, according to COO and board advisor Siobhan Hayden, the funding round was not successful. “We believe it was a demographic issue,” she said, explaining that the younger crowds that inhabit online crowdfunding spaces are drawn to more glamorous investing opportunities than those in the mortgage industry. The funds were intended to be used for new […]
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