WEX partners with Australian supply chain finance solutions provider Octet
WEX (NYSE: WEX), a leading financial technology service provider, announced today that it has partnered with Sydney-based supply chain technology provider and financier Octet. Octet is a supply chain management and financing platform that enables Australian small- and medium-sized businesses to manage and pay local and international suppliers. The platform uses enterprise-grade tools to enable its customers to track, validate and authorise each step of the supply chain. This provides Octet’s customers with full visibility of all supporting documentation and the ability to facilitate payments through multiple methods. Through the partnership, Octet’s customers will benefit from WEX’s virtual credit cards to pay their suppliers. The full benefits of using WEX’s payments […]
Arctic Intelligence warns many Australian businesses may be vulnerable to financial crime
Arctic Intelligence, a market-leader in financial crime prevention audit, risk and compliance software, warned today that many Australian businesses may be unaware that their internal risk assessment processes do not go far enough; leaving them vulnerable to money laundering, terrorist financing, sanctions and regulatory non-compliance. With organised crime is estimated to cost the Australian economy more than $36 billion a year (source: https://www.acic.gov.au/about-crime/crime-types), government regulations are tightening and the spotlight is on businesses who may be a target for financial crime, to ensure that they have appropriate controls and programs in place. The Australian Transaction Reports and Analysis Centre (AUSTRAC) is responsible for ensuring that more than 14,000 Australian businesses, […]
PlayChip lists on Bittrex International
PlayChip, the Universal Gaming Token, has announced its listing on Bittrex International. The announcement comes following the impressive trading volume garnered across its existing four exchanges – HitBTC, LATOKEN, IDEX and Independent Reserve. The Bittrex listing is perhaps the most significant thus far, with an entirely new wave of cryptocurrency traders now having visibility of and access to the PlayChip, with the token’s daily trading volume increasing by 75% in the six hours following the announcement. Given just 2% of token sales from Q4 2018 obtained so much as a solitary listing, the significance of this achievement is not to be overlooked. “Bittrex is one of the most established and […]
SocietyOne targets $50M through launch of Personal Loans Unit Trust
Australia’s leading marketplace lender, SocietyOne, is targeting $50 million through the launch of a Personal Loans Unit Trust designed to increase simplicity, liquidity, diversification, and access for its wholesale investors. The Trust will provide investors with a consistent monthly income stream and enhanced liquidity, with an expected return of 6 per cent per annum. It will invest in a diversified portfolio of SocietyOne’s fixed rate unsecured personal loans, and includes a reserving mechanism that smooths earnings across the portfolio. “We believe this new Unit Trust model will help to significantly simplify the experience of investing in our portfolio of personal loans, and provide investors with greater access to this asset […]
Women-only ride-sharing startup Shebah bags $3 million in biggest-ever equity-crowdfunding raise
Australian women-only ride-sharing platform Shebah has broken the record for the most amount raised under Australia’s new equity-crowdfunding regime, pulling in a total of $3 million over its month-long campaign. Midway through March, the company cracked the $1 million mark for its crowdfunding campaign, and in the final minutes of the raise last night it pulled over the $3 million mark on crowdfunding platform Birchal, meaning the raise was fully subscribed. Speaking to StartupSmart, Shebah founder George McEncroe said while she is still a bit shocked, she felt “just stoked, delighted beyond words”. “I’m so relieved and amazed, and I feel really supported, and also a bit daunted. I’ve got […]
Fintech Start-Ups invited to apply to Accenture 2019 FinTech Innovation Lab Asia-Pacific
To be eligible for the Accenture 2019 FinTech Innovation Lab Asia-Pacific, startups must have a working version of their technology/solution for financial institutions Applications are now being accepted for Accenture’s annual FinTech Innovation Lab Asia-Pacific, a 12-week program that helps early- and growth-stage fintech companies accelerate product and business development through mentorship with executives from top financial institutions. Fintech entrepreneurs developing cutting-edge products, services and technologies are invited to apply now until May 10. The sixth year of the Lab comes after global fintech investments more than doubled in 2018, to US$55.3 billion, led by a surge in funding to start-ups in mainland China, as well as by record fintech […]
Australian FinTech company profile #1 – Investfit
For exclusive members of Australian FinTech we’re going to do a Company Profile on each company and post it on our website, share it to our 10,000+ global social media followers and have it appear in our weekly newsletter which goes out to over 3,000 subscribers. Here is our very first profile for Investfit: 1. Company Name: Investfit 2. Website: www.investfit.io 3. Key Staff & Titles: James Claridge, CEO, Co-founder Ed de Salis, Sales Director, Co-founder Gavin Daw, Technology Director, Co-founder Antony Pritchett, CTO 4. Location(s): Sydney 5. In one sentence, what does your fintech do?: Technology that helps financial advisors provide better, lower cost, lower risk […]
Square partners with Australia’s community banks to help regional SMBs go digital
Today, global payments provider Square, Inc. (NYSE: SQ) announced it is teaming up with Unity Bank, Southern Cross Credit Union and the WAW Credit Union in a string of regional partnerships that will give more small businesses outside of Australia’s capital cities greater access to innovative payments technology. Small businesses across regional New South Wales, Victoria and Queensland will be able to benefit from the new partnerships and will see affiliated branches provide access to the iconic Square card reader for contactless and chip for just $59. Customers will also receive fee-free card processing for their first $1,000 worth of sales to help them get started. Square’s Country Manager […]
