NRMA Business Insurance partners with Prospa to lend a hand to small business owners
With cash flow and financial responsibilities being two of the most common things keeping business owners awake at night, NRMA Business Insurance has entered into a pilot partnership with small business lender Prospa to offer customers a faster, simpler finance solution. Prospa is an online small business lender and one of the fastest growing technology businesses in the country. It offers small business owners the flexibility and ease of accessing business loans between $5,000 to $250,000 online, with approval within a day. Through the partnership, NRMA Business Insurance customers can now access Prospa’s lending services alongside other benefits offered by the insurer, such as free online tax and […]
The Benzinga Global Fintech Awards – entries closing soon
The Benzinga Global Fintech Awards May 11, 2017 in New York, is the premier event in Fintech, celebrating financial innovation from around the world. The Benzinga Awards is a competition to showcase the companies with the most impressive technology, who are paving the future in financial services and capital markets! Applications are still open, so apply now before the March 17 deadline. At the event, you’ll get a first look at groundbreaking technology, innovative platforms, and the chance to network freely with top industry professionals. Over 550 FinTech CEOs, C-suite executives of financial institutions, VCs, press, and others attended the 2016 Benzinga Fintech Awards. 45 exclusive exhibitor spots on the show floor […]
Adelaide start-up and fintech company Joust to launch in New South Wales under NOVA Entertainment Group funding deal
A MAJOR entertainment company has thrown its financial support behind Adelaide-based technology start-up Joust, allowing the company to expand its home loan auction service into New South Wales. The Wakefield Street business today announced it had successfully raised another $400,000 and secured NOVA Entertainment Group as a strategic investor. The company, which operates in SA and Victoria, says the funding takes to almost $2 million it has raised since its inception in early 2015. Co-Founder and managing director Mark Bevan said 650 customers have used Joust to seek a better home loan interest rate and that the value of home loans “jousted” was already more than $250m. “We now have […]
zipMoney to partner with a Big 4 Australian Bank in a $200m financing arrangement
zipMoney Limited is pleased to announce that it has agreed key terms with a ‘Big 4’ Australian bank for the provision of a $200 million asset-backed securitisation warehouse program for its consumer receivables. CEO and Managing Director Larry Diamond said: “This is a transformative step forward for the Company. As well as creating capacity to fund the growing demand for our services, it will approximately halve the weighted average cost of capital of our loan book, which directly contributes to our bottom line. We are very pleased to be partnering with this ‘Big 4’ Australian bank and look forward to releasing further details in due course.” COO and Executive Director […]
Fintech Business Awards winners revealed
The winners of Momentum Media’s Fintech Business Awards 2017 have been announced, acknowledging the achievements of the industry’s leading lights. The premier awards night for the fintech industry, the Fintech Business Awards is dedicated to celebrating the accomplishments of the disruptive businesses and innovators reshaping the way Australians access financial services. This year, Daniel Foggo of RateSetter Australia was recognised with the Fintech Business Excellence Award for individuals, beating out the other individual winners awarded at the event, with financial planning software firm Midwinter taking out the Fintech Business Excellence Award for companies. Over 300 nominations were received for the 18 awards, with the winners selected by a panel of […]
Monash teams with Cambridge and Tsinghua universities to study Asia’s alternative finance sector
Monash University is collaborating with Cambridge University and China’s Tsinghua University to track the extraordinary growth of the Asia-Pacific’s booming alternative finance sector, valued at more than US$100 billion. The collaboration will see Monash Business School’s Australian Centre for Financial Studies partner with the Cambridge Centre for Alternative Finance at University of Cambridge Judge Business School, and Tsinghua University Graduate School at Shenzhen to undertake an international benchmarking survey with the support of more than 20 major industry organisations across the region. This is the largest regional study to date focused on crowdfunding, peer-to-peer lending and other forms of alternative finance. The benchmarking survey aims to capture the key trends, […]
Peer-to-peer lender Harmoney coming to Aussie shores
Peer-to-peer lender Harmoney has recently set up shop in Australia, with Brisbane the first lucky city to host the fast growing company. According to Harmoney Australia General Manager Ben Taylor, the lender is expecting to be popular with Aussie homeowners 40 years and older. “Early signs following our beta testing in Australia show that mom-and-pop borrowers will be quick to embrace a competitive, customer service focussed marketplace lending solution for debt consolidation, home improvement and travel,” he said. Initially, the platform will be open to borrowers only, for loans between $5,000 and $35,000 with terms of 36 and 60 months. Rates on unsecured loans start at 8.99% p.a., with no […]
Auswide Bank is increasing equity stake in P2P lender MoneyPlace
Auswide Bank Ltd is increasing its equity stake in peer-to-peer lender MoneyPlace Holdings Pty Ltd. Today’s announcement means Auswide Bank will have a controlling interest of at least 51% in MoneyPlace with the prospect of increasing that interest up to 75% dependent on the final take up of other MoneyPlace shareholders in a capital raising initiative being undertaken by MoneyPlace. Auswide Bank acquired a 19.3% equity stake in MoneyPlace in January 2016 while also committing funding to the Melbourne-based P2P lender’s consumer lending program. Managing Director, Martin Barrett said Auswide Bank has been impressed with the platform, skills, capability and performance of MoneyPlace over the last 12 months. “Our funding […]
