Auswide Bank lends $60m, takes 20pc in MoneyPlace
Auswide Bank is offering $60 million in personal loans over five years via fledgling peer-to-peer lender MoneyPlace along with a 20 per cent stake in the start-up to boost its personal loans to younger borrowers. Martin Barrett, the managing director of the small, listed Queensland bank, which has a loan book of about $2.4 billion, said it had been in talks with MoneyPlace about investing in and via the platform for about a year while it was seeking its credit licence from the corporate watchdog. “What the P2P guys have to offer is something that is more advanced and capable than what we would be able to put into the […]
Ellerston Capital plans VC fund to target disruptive technologies
The Ashok Jacob-chaired Ellerston Capital plans to raise tens of millions of dollars early next year for a new venture capital fund, to be known as Ellerston Ventures, which will invest in disruptive technologies. Ellerston — which has more than $4 billion under management and runs eight funds including a new Asian listed investment company — has long had a venture capital arm that invests in what it calls “special opportunities’’. Now it wants to launch a new VC fund to take advantage of opportunities arising in the technology sector, especially the fintech space. Source: Ellerston Capital plans VC fund to target disruptive technologies
RBA governor Glenn Stevens backs blockchain and tech disruptors
The blockchain technology that underpins controversial crypto-currency bitcoin could bring significant benefits to the global banking system, Reserve Bank of Australia governor Glenn Stevens said. Speaking in his regular year-end interview with The Australian Financial Review, Mr Stevens said it was important for banks to figure out how the technology could be used to create broader efficiencies in the financial system. The words of support from a high-profile central banker will be welcomed by banks and start-ups around the world, which are working to develop applications for the relatively new technology. Blockchain is a digital record of transactions spread across separate computers designed to withstand tampering even by the people […]
More Aussie funds available for fintech start-ups
Australian fintechs say despite Atlassian choosing Nasdaq to make its $8 billion raising, Australia is becoming one of the biggest sources of funding for them with Prime Minister Malcolm Turnbull an important catalyst. “This is our fourth year. Four years ago we talked to a number of Australian investment groups and there was very limited interest for a company trying to disrupt financial services,” said Beau Bertoli, the co-chief executive of small business lender Prospa. “In the last 12 months we have seen a huge swing the other way. There is not just offshore but onshore money and we should see a flurry of money coming into the industry in […]
Fintech 100 – Australian FinTech companies to watch
Congratulations to the following seven Australian FinTech companies who made the Fintech 100 and were nominated as “Ones to Watch”: Avoka Equitise Metamako Moula PromisePay Simply Wall St Stockspot Well done to you all and we look forward to following your success over the coming years!
Congratulations Fintech 100
The financial services industry is facing a wave of digital disruption that is starting to reshape the sector. The Fintech 100 celebrates the top companies this bold new space: the 50 leading established players creating change within financial services, and 50 of the emerging fintech stars of tomorrow. The Fintech 100 offers an in-depth view of the most exciting startups and organisations taking advantage of technology to revolutionise the industry. The report is a collaborative effort between H2 Ventures and KPMG. Click below to see the entire list. Source: Fintech 100
Australians wasting millions on international money transfers, as entrants offer big savings
Australians are wasting millions of dollars by sending money overseas via the big four banks instead of the booming number of nimble specialist players, experts warn. At present, a customer transferring $1000 from Australia to the United States could save $63 by avoiding the big four banks, which impose poor exchange rates and fees, and choosing a specialist such as the latest entrant World First. With the vast bulk of the average $9.7 billion transferred overseas each year conducted through CBA, NAB, Westpac and ANZ, experts are urging consumers to shop around. Source: Australians wasting millions on international money transfers, as entrants offer big savings
Broker platform inks lead deal with listed property group
Brokers stand to receive an onslaught of leads following the announcement of a strategic partnership between an ASX-listed real estate group and a broker platform. Onthehouse Holdings Limited, an ASX-listed online real estate content and services platform, has entered into a strategic partnership with HashChing to provide its visitors access to home loan deals from local mortgage brokers. Through the partnership, brokers who use the HashChing platform will have their profiles appear whenever a prospective home buyer visits Onthehouse.com.au and searches a particular suburb. Unlike mortgage comparison websites that channel prospective borrowers to lenders, HashChing sends customers to a mortgage broker in their local area for further credit advice. Brokers […]
