Equity crowdfunding extended to private companies
Businesses wishing to raise money from retail investors will no longer have to convert to an unlisted public company structure, after an amendment to 2017’s equity crowdfunding legislation passed federal Parliament. The legislation, which takes effect in 28 days from Wednesday, allows proprietary companies or unlisted public companies with annual turnover or gross assets of up to $25 million to advertise their business plans on ASIC-licensed crowdfunding portals, and raise up to $5 million a year to carry them out. Investors can put up to $10,000 a year each into an unlimited number of ideas. Australian private companies are typically limited to a maximum of 50 non-employee shareholders. However, under these […]
Guide to borrowing from fintech lenders released
The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) and theBankDoctor.org released a guide to help small to medium enterprise (SME) owners better understand the ‘ins and outs’ of borrowing from fintech lenders. “This is another step closer to transparency and disclosure for the fintech industry; an alternative finance solution for SMEs,” Ombudsman Kate Carnell said. “Borrowing from fintech lenders is a joint project between ASBFEO and independent SME finance expert, Neil Slonim from theBankDoctor.org. “It provides answers to the questions asked by most potential borrowers: What is a fintech lender and how is it different to a bank? What products do they offer? How much can I borrow and […]
Thousands of self-managed super funds are now investing in cryptocurrencies
Cryptocurrencies have caught the eye of Australian self-managed super funds (SMSFs), according to staff from domestic crypto exchanges. So along with traditional holdings such as residential property or blue chip shares, a small portion of SMSF investors are looking for something a little more high-risk. Adrian Przelozny, CEO at crypto exchange Independent Reserve, told Business Insider there’s been “significant activity in the space” from SMSFs. He said the number of SMSF customers who are registered with the exchange now number “around six or seven thousand“. That’s still a relatively small percentage of the more than 590,000 SMSFs in Australia, which hold combined assets of almost $700 billion. But it’s a […]
Fintech payments startup Zip just closed a deal with Target Australia
Shares in Zip Co, the owner of zipPay, zipMoney and Pocketbook brands, jumped after the fintech announced a deal with Target Australia. A short time ago, the shares were up 5.8% to $1.09.The company announced a partnership with Target, owned by Wesfarmers, to offer Zip interest-free payments to customers in its 303 stores. Zip CEO and Managing Director Larry Diamond says Zip will be Target’s first in-store alternative payments offering. “We believe Zip will be a great fit for Target, providing their customers with a better way to pay,” he says. To read more, please click on the link below…. Source: Fintech payments startup Zip just closed a deal […]
Australian FinTech platform WLTH launches giving Australians better control over financial health
Australian FinTech startup WLTH has launched a powerful digital portfolio manager, giving everyone from students to seasoned investors access to industry tools and greater control over their financial health. With unparalleled accuracy and in real-time, WLTH securely connects live data feeds including hundreds of banks, RP Data and Redbook for car valuations, as well as share portfolios, managed funds and superannuation to create a clear, to-the-dollar snapshot of a users’ assets and net worth. Users can rest assured that their information is safe, with WLTH investing heavily in industry-grade security. All data is protected by bank-level encryption and stored on the Amazon Web Services (AWS) platform in Australia meaning no […]
Peppermint’s Bizmoto now remitting to India
Peppermint Innovation Limited announced its international remittance business, Bizmoto, had ‘opened’ up a transfer corridor to India, the second largest global remittance market for Australia in 2017. The activation means people living in Australia can now use Bizmoto’s online portal at www.bizmoto.com.au to send money to their family, friends or relatives in India. Bizmoto will earn revenue by collecting a transaction fee on every money transfer. According to the latest World Bank figures*, Australians transferred USD$1.944 billion to India in 2017 – ranking only second to China (USD$2.922B) as the largest global remittance market for Australia. Vietnam (USD$1.182B) ranked as the third largest global remittance market for Australians, with the […]
BGW Group chooses Link4’s e-Invoicing solution
BGW Group, an Australian wholesaler, has partnered with e-Invoicing company, Link4, to provide seamless invoicing for their customers. Following initial testing, three BGW Group companies are now using Link4’s e-Invoicing system which gives customers instant access to invoices without the need for data entry. CNW Electrical Wholesale, Samios Plumbing Supplies and Sherriff Electrical Wholesalers are already connected to Link4 and are sending their invoices instantly to their connected customers. As this partnership moves forward, BGW Group will be inviting more of their customers to join Link4’s e-Invoicing network. Many Australian businesses are adopting e-Invoicing and joining this wave to automate their business processes even further. For BGW Group customers, streamlining […]
Lendi named as one of LinkedIn’s top startups
Leading online home loan platform, Lendi, has been recognised in the 2018 LinkedIn Top Startups list, honouring the 25 most sought-after startups in Australia. The LinkedIn Top Startups list celebrates the companies and people making an impact in the professional world. The list is derived from a blended score looking at factors including interest in the company, engagement with employees, job interest and retention, and is informed by the billions of actions taken by more than 575 million professionals on LinkedIn. “At Lendi, we put people at the heart of everything we do. To be featured on Australia’s first LinkedIn Top Startups list is a significant milestone for us. It […]
