Fintech investment doubled while Australian banks hammered
Investment in financial technology startups more than doubled last year while Australian banks came under intense public scrutiny for their treatment of customers. Globally, fintechs managed to attract US$26.7 billion investments in the 2017-18 year, which was 107 per cent more than the year before, according to Accenture analysis of CB Insights data. The increase could be directly attributed to fintech’s explosive growth in China, where the amount of money that went into the sector stunningly increased nine-fold. Its US$25.5 billion of capital raising in this nation alone almost matched the US$26.7 billion generated in the rest of the world. Australia saw similar growth with US$756.7 million total investment into […]
Raiz starts its international expansion by launching in Indonesia
Following its success in Australia, Raiz is proud to announce its expansion into Southeast Asia with the launch of Raiz Invest in Indonesia. In Indonesia, Raiz Invest will position itself as an aspirational product to improve by hands on learning financial literacy and financial inclusion, similar to Australia. “We are very excited to bring Raiz Invest to Indonesia. We believe that just like in Australia, Raiz will be a game changer on how people invest. Raiz Invest will be the innovative solution for anyone who wants to start investing, but has never really taken the first step,” said George Lucas, CEO. “As outlined in the prospectus last year our growth […]
Saxo launches digital access to Chinese bonds
Multi-asset trading and investment fintech specialist, Saxo Bank has announced the addition of Chinese bonds to its offering, a move which will be expected to further cement its position as a gateway to China for its international client base. In 2017, the firm offered an opportunity for qualified institutional clients in Australia to trade mainland China bonds which was enabled via its Hong Kong based bond connect mechanism allowing both overseas and mainland China investors to trade in each other’s bond markets. The launch of mainland China bonds would add to this access to China a-shares listed on the Shanghai and Shenzhen stock exchanges, the firm said. To read more, […]
Funding partners commit to support Peppermint’s growth
Peppermint Innovation Ltd (ASX: PIL) confirms funding support from two strategic investors that will help deliver its next exciting phase of growth. On 30 October 2018, Peppermint announced Smidge Digital Unit Trust or its nominee had agreed to invest $1.5 million at 2.5 cents per share via a placement of 60 million shares. Smidge has now nominated PEGG Capital Limited (Malta) – a Maltese-based investment group focussed on unique and undervalued opportunities in Australia, Asia and various emerging markets – as the party to fill the placement by 31 March 2019. PEGG Capital Limited has also undertaken to continue to provide financial support to Peppermint to accelerate the adoption of […]
Australian small cap investors should turn focus to tech
Australian small cap investors should turn their focus to the increased use of technology across the financial services sector, and the investment opportunity it presents, according to DNR Capital. DNR Capital’s Australian Emerging Companies fund portfolio manager, Sam Twidale, said traditional financial services companies in Australia had long benefited from favourable regulation, limited competition and captive customers, but as change sweeps the industry, investors could be gaining exposure to new opportunities. “We are witnessing this change now as new business models emerge adopting the latest technologies, with today’s tech-savvy customers receptive to change,” he said. “In the Australian small cap sector investors can gain exposure to these niche opportunities, which […]
Macquarie Group invests in market-changing technology firm Quantexa to accelerate the future of AI-enabled decisioning technology
Quantexa, the data analytics firm, has announced a strategic investment and partnership from Macquarie Group to provide actionable customer intelligence. The strategic partnership will help Quantexa accelerate the growth of its AI-enabled network analytics technology which provides enterprise-wide solutions serving multiple use cases including fraud detection, money laundering prevention, credit risk decisioning and customer insights. The investment follows a Series B funding raise in July in which Quantexa raised $20 million from HSBC, Albion Capital and Dawn Ventures. “We are delighted to have Macquarie become part of the Quantexa journey,” said Vishal Marria, Chief Executive Officer of Quantexa. “Macquarie’s expertise and appetite for innovation will help us to continue to […]
Wealth managers deliver $90m for Aussie fintech
Wealth management has been a key driver for an Australian financial services technology firm, which boosted group net profit after tax by 15 per cent over the six months to 31 December 2018. ASX-listed Bravura Solutions Limited increased group revenue by 24 per cent to $127.4 million over the half, while the company’s NPAT increased 15 per cent to $16.3 million. Wealth management was a significant revenue driver for Bravura, which also provides software solutions to the life insurance and funds administration industries. Revenue from wealth management increased 24 per cent to $90.4 million in 1H19, up from A$72.8 million in 1H18. EBITDA increased 36 per cent to $29.4 […]
Bitcoin crash gives way to steady growth
The price of bitcoin has crashed in early 2019 but some experts in the field argue that the news is not all bad, with the future for cryptocurrencies looking fairly strong. At the end of January 2019, the price of bitcoin was US$3525, having slumped from a peak of over US$19,000 in late 2017. This is not the first crash in a market known for its volatility, and in previous downswings the price has eventually settled at a point that shows a long-term upwards trend. For example, at the start of 2017 the price was about US$975. The general feeling in the market is that much of the massive movement […]
