Re-listed fintech hopeful comes back to the market after merger
ASX investors reacted positively when the newly minted post-merger Afterpay Touch Group hit the ASX boards last Thursday, pushing the stock 8 per cent higher on its first trading day. The listing is a result of the combination of two digital payment companies: Afterpay and Touchcorp. Australia has a long way to go to catch up to its global counterparts when it comes to technology and innovation. According to a 2015 study on global innovation Australia ranked 17th in the world, well behind the US, Germany or the UK. More importantly, “the lucky country” also lagged regional counterparts Singapore, South Korea and our neighbour New Zealand. Despite its impact, information […]
Lendi breaks the fintech mould
It’s arguably one of the oldest fintech start-ups in Australia and is now likely to play an important role in guiding the fortunes of Fairfax’s real estate business Domain. However, Sydney-based Lendi isn’t keen on the oft-repeated disrupter tag. Company co-founder and managing director David Hyman told The Australian the idea behind the start-up was to untangle the vast volume of data home buyers have at their fingertips when it comes to getting a mortgage. According to Mr Hyman, while there’s a lot of information out there for existing and aspiring home owners the overall process of getting a mortgage remains grossly overcomplicated. “The experience is poor,” Mr Hyman said. […]
DomaCom reaches crowdfunded property deal
DomaCom has signed an agreement with a property developer to help launch a residential community land project in regional Victoria. The deal with Akuna Lifestyle Estates will involve a $6 million capital raising comprising $1.65 million to acquire the land and $4.35 million for development planning, approvals and construction of the civil works, and common facilities including a clubhouse, sports centre, pool and bowling green, according to a statement. The Cobram-based project is planned to be developed and sold in eight stages over three to four years, starting this year. DomaCom said it will use its fractional property investment platform to offer an attractive yield to investors for acquisition and […]
Disruptive big data company Quantexa furthers global expansion
Quantexa, the disruptive big data and analytics company backed by HSBC and Albion Ventures, has furthered its international expansion by opening a new office in Sydney, Australia. This builds upon their accelerated growth this year, which has seen the opening of their Brussels office in April and the doubling in size of their Global Headquarters in London. Following on from their $3.3m fund raising earlier this year, Quantexa’s expansion reflects a growing customer base outside the UK. The Sydney office will put the company in closer proximity to its clients in APAC and forms part of its aggressive international growth plans. Quantexa can already boast an impressive client list that […]
Australian fintechs must set sights on Asia: MoneyMe
Consumer fintech, MoneyMe Financial Group, believes the next surge of global fintech growth will be led by Asian markets after a temporary global plateau, as a result of greater market demand and more underbanked citizens, increasing income levels, advanced tech capabilities, and superior tax structures for innovative businesses. Australian fintechs who don’t include Asia in their growth strategies, both in terms of target markets and location of operations, risk falling behind and missing the next wave of fintech as a result of our far higher corporate tax rates, and the comparatively higher quality of our financial services which drive down the urgency for local innovation. This comes off […]
Trading to National Stock Exchange available on IRESS
IRESS and the National Stock Exchange of Australia (NSX) today announced that clients of IRESS will be able to trade securities listed on the NSX through IRESS. The introduction of trading through IRESS builds on the existing market data feed of NSX securities available through IRESS. NSX Managing Director, Ann Bowering, said: “We are delighted to be working with IRESS to provide direct access to trading on the NSX market by leveraging the IRESS network and trading community. “It is essential that NSX provide companies listed on our exchange access to Australia’s broking network, and this has been easily facilitated through IRESS’ network. “In doing so we have given our […]
What is the impact of Blockchain on the Economy?
Blockchain, a type of ledger technology, has been under intense study for the last year by Australia’s Commonwealth Scientific and Industrial Research Organisation, or CSIRO, specifically by their Data61 group. Data 61 is a partnership group dedicated to finding, creating, and studying data innovation. Therefore, their recently released reports pronouncing blockchain a “highly promising” way to manage supply chains for the government, finance, and industries and to increase Australia’s productivity are an exciting breakthrough that could put Australia at the forefront of technology and enterprise. But the CSIRO reports come with a warning that Blockchain may have some vulnerabilities as well. After being commissioned by Australian Treasurer Scott Morrison, MP, […]
Tom Culver of Goodments wins inaugural EY WAMTech PitchFest
Tom Culver, CEO and Co-Founder of Goodments, has been named as winner of the inaugural EY WAMTech PitchFest for his innovative FinTech solution in response to the problem statement of how to simplify the process for financial advice within the wealth and asset management (WAM) industry. Culver took out the top award among stiff competition from the group of five short-listed finalists at a special event held in Sydney last night. Supported by the Financial Services Council (FSC), the PitchFest called on FinTechs to help revolutionise the Australian WAM industry by designing innovative technology-based solutions to some of its biggest challenges, as identified via a survey of senior executives […]
