Apr
17
MYOB votes are in; shareholders hand keys to KKR
Almost four years to the day after re-listing on the ASX, and after an at-times remarkable takeover battle, the accounting software company is headed for a another stint in private equity hands. It is understood early votes and proxies received ahead of Wednesday afternoon's meeting are enough to ensure MYOB is headed into KKR's private equity portfolio. Manikay Partners, owner of a 16 per cent stake, has voted for the deal as flagged, along with former controller and now 6.1 per cent shareholder Bain Capital. Add in a handful of the other institutional shareholders and KKR goes into the meeting knowing it already has the numbers. It's understood to have […]
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Apr
17
Aussie blockchain investor goes global
Australian digital assets investment firm TCM Global Asset Management (formerly Token Capital Management) is making its first international foray. TCM is chaired by former ANZ managing director of global markets, Steve Bellotti, and its chief executive is former JP Morgan managing director of Asia Pacific commodities trading, Jon Deane. The firm has acquired a controlling stake, alongside high profile blockchain investor Frank Amato, in Cleveland-based Grasshopper Capital. Grasshopper Capital's first fund, launched in 2017 and closed in 2018, returned 29.28%. The fund was long only and focused on infrastructure opportunities in the blockchain ecosystem. Grasshopper has now announced it will be launching a new fund, Grasshopper Capital Fund II LP, […]
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Apr
17
Big cards, personal loans player takes a look at Zip Co
Payments company Zip Co's shareholders have more than doubled their money this year, but the strong run may have crippled their chance of a buyout. Street Talk understands local credit cards and personal loans company Latitude Financial Services - which is owned by global heavyweights KKR, Varde Partners and Deutsche Bank - has been watching the ASX-listed payments provider. Sources said Latitude's new management team, spearheaded by former Australia Post boss and investment banker Ahmed Fahour, has spent some time considering ways to get into the buy now pay later sector, which looks like disrupting part of its more traditional banking book. And as small cap managers know - and […]
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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
Turn pocket change into special purchases with Sipora
Basiq is excited to announce their partnership with Sipora, an innovative new app that helps you save for ‘that special purchase.’ Sipora is the first of its kind, a round-up shopping app that allows millennials to shop around, save spare change and make purchases all within one app. Users can even gain access to exclusive offers and free shipping as well. Basiq’s Head of Partnerships, Lorraine Longhurst says that partnerships with fintechs like Sipora will provide customers with another use of Open Banking data: “We are proud to have Sipora join our Fintech Marketplace where we have over 180 fintechs using our platform. Millennial’s will love this app to help […]
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Apr
16
Emerging technologies are changing the future of financial services
Emerging technologies such as blockchain, data and artificial intelligence (AI) are disrupting the landscape of the financial services industry, participants at Swinburne’s Financial Technologies (FinTech) panel discussion have heard. Renowned FinTech leaders came together to discuss the trends, challenges and opportunities of FinTech in Australia. The event’s panel discussion was moderated by Director of the Master of Financial Technologies, Dr Dimitrios Salampasis. Representing a diverse range of industries from start-ups such as WORBLI and Moula, to traditional banks and regulatory bodies, the panellists shared insights into how FinTech is disrupting or presenting opportunities for their organisations. Manager of Corporate Development at Bendigo and Adelaide Bank, Cameron Stewart, said that as […]
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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
16
Novatti Group (ASX:NOV) 1H19 results & outlook
Novatti Group Limited (ASX:NOV) CEO, Peter Cook talks about the company's 1H19 results, growth in transactions processing and range of processing solutions, and provides an update on Novatti becoming an ADI (authorised deposit-taking institution). Anna Napoli: Welcome to the Finance News Network, I’m Anna Napoli and joining me now from Novatti Group Limited (ASX:NOV) is CEO, Peter Cook. Peter, welcome back to FNN. Peter Cook: Good morning Anna. Anna Napoli: Novatti Group is a financial transactions processor and developer. Can you tell us more? Peter Cook: Novatti develops technology, very specific fintech solutions for both our third party customers and our own financial services networks. Most of our focus is […]
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