Investing

Bravura calls for more fintech funding | afr.com

Australian FinTech company Bravura Solutions are definitely right – the government does need to put its money where its mouth is. The government are continually talking about investing but when is it actually going to happen… Technology group Bravura Solutions has asked the government to “put their money where their mouth is” when it comes to funding tech start-ups, after Prime Minister Malcolm Turnbull said Australia needed to position itself as a “nation that is agile”. Bravura, a financial services technology company that was previously listed on the Australian Securities Exchange, also hinted at a possible return to being a public company after group chief executive Tony Klim flagged improving […]

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Sep
18

Super funds back biggest-ever Australian tech venture fund worth $200 million | afr.com

This is certainly great news for the Australian tech start-up industry. It also shows great faith in what is to come out of the Australian tech sector in the coming years. Leading entrepreneurs and two major superannuation funds will combine forces to launch Australia’s biggest-ever technology start-up venture capital fund, with more than $200 million set aside to back growing companies. The new fund will be managed by Blackbird Ventures and has been backed by 96 technology entrepreneurs including Atlassian co-founder Mike Cannon-Brookes, as well as two major superannuation funds, First State Super and Hostplus Super. It will target tech companies that would previously have headed overseas in search of […]

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Sep
10

P&N seeks fintech partners – The West Australian

WA’s biggest locally owned lender, P&N Bank, will scout potential partnerships and other investments to keep pace with the technological changes gripping the banking industry. Having dipped its toe in the fintech sector last year by taking a small equity stake in a superannuation software start-up, chief executive Andrew Hadley says the mutual bank “certainly has the intent of partnering, collaborating and potentially taking small equity positions” in other businesses of interest. Source: P&N seeks fintech partners – The West Australian

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Sep
08

ANZ vows to take fight to fintech start-ups | The Australian

ANZ has hit back at suggestions that banks only innovate for short-term gains, declaring other industries should be worried about being put out of business by the banking sector. Meanwhile, Westpac chief Brian Hartzer said it was actually important for banks to not get too “mesmerised” by innovation and “inventing cool new stuff”, remembering that customers were at the heart of banking. Last week, Danny Gilligan, managing director of Reinventure Group, said banks and other financial services players would struggle to battle disruptive “fintech” start-ups because their pay packets and investment policies were short-term focused. Source: ANZ vows to take fight to fintech start-ups | The Australian

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ANZ, Bendigo join Matchi fintech platform | afr.com

Here’s another article on how some of the big incumbent banks are getting in on the fintech act… ANZ Banking Group and Bendigo and Adelaide Bank have joined a global matchmaking platform called Matchi, to help them link with global start-ups, in a sign incumbents are not limiting their engagement with fintech to local hubs like Stone & Chalk. KMPG last week announced a deal with Matchi that will provide clients of the firm with access to the tech platform, which serves as a bridge for traditional banks and start-ups to identifying partnership opportunities. Source: ANZ, Bendigo join Matchi fintech platform | afr.com

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Carlyle backs Prospa securitisation to boost SME lending

This is great news for Australian FinTech company Prospa. It’s also a very positive sign to see global companies investing in Australian FinTech companies – it appears others are starting to see the potential here in Australia. Global alternative asset manager the Carlyle Group has invested $50 million in the first securitisation deal in Australia of unsecured, online business loans, which will allow Prospa to step up its small-business lending as the big banks overlook the sector. The securitisation deal, which is only the third globally in the online business lending category, is part of a $60 million capital raising that was also supported by Ironbridge Capital, AirTree Ventures, and […]

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Jul
31

IAG makes ‘smart move’ to name Peter Harmer as innovation boss

Insurance Australia Group has appointed former commercial insurance boss Peter Harmer as chief executive of its new digital innovation hub, as the $14.4 billion insurer ramps up its technology drive. Source: IAG makes ‘smart move’ to name Peter Harmer as innovation boss

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NAB Ventures created to invest $50m in fintech

It seems the big banks are getting behind Australian FinTech which is great to see!   National Australia Bank has created an “innovation fund” that plans to invest $50 million over the next three years in Australian and offshore start-ups to enhance the bank’s development of customer-centric products and applications. Source: NAB Ventures created to invest $50m in fintech

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