Meet eight fintechs changing financial services
When you have just seven minutes to sell your idea as the next big thing to change banking and investment, every moment counts. Thirty of the country’s best fintechs are pitching to a room full of 160-plus bankers, brokers and venture capitalists at the Grand Hyatt ballroom in Melbourne, where their story, business plan and even looks are all being judged. From payments to wealth management, peer-to-peer lending and crowd funding, fintech start-ups are taking aim at the heart of the financial services industry and a pot of revenues that Goldman Sachs estimates at $4.7 trillion. The banks are all vying for a stake in these disrupters before they join […]
Fintech challenges Veda, Dun & Bradstreet
CreditSME – founded by Adam Welsh, a former M&A and debt at Origin Capital Group and Goldman Sachs – is offering a sort of broker role, giving them a credit rating and then advising them on which lenders would be the best for them – be it traditional bank or online unsecured lenders. CreditSME, launching on Wednesday, is the latest in an explosion of ex investment banker-led fintechs targeting the small businesses traditionally treated with disdain by the banks. But it’s not lending them money, rather it wants to give SMEs (and their lenders) easy access to a credit rating, just like a big business. There are various operators that […]
Australian FinTech partners with Kikka Capital
Australian FinTech is here to benefit FinTech companies in Australia and it’s the perfect platform to promote your company, brand awareness and your amazing products and services. To assist on the finance side of your business, Australian FinTech has partnered with Kikka Capital. Kikka Capital provide business loans as small as $1,000 up to $100,000 and there’s no accountants, tax returns or anything formal required to apply. They can fund any business as long as there’s cashflow. Kikka uses an advanced underwriting platform meaning not only will Kikka be able to assist any type of business the application takes just 7 minutes to complete! In addition, as a line of […]
zipMoney records $10million in the month of April
zipMoney Limited (ASX:ZML) announced on the ASX that it originated more than $10 million in transaction volume on its platform in the month of April alone. An outstanding result from the entire team driven by the continued activation of large merchant accounts, the rollout of zipPay and a number of strategic marketing initiatives. You can read more here On 29 April 2016 zipMoney released its Quarterly Activities Report for the period ending 31 March 2016. Noteworthy highlights included: Revenue growth of 104% on last quarter including merchant fee revenue growth of 128% Transaction volume growth of 67% on last quarter; more than $23 million originated on platform to date Loan book ended the period […]
Tackling longer payment terms
InvoiceX, a recently established Australian loan company, has unveiled a new invoicing scheme to help struggling mining companies overcome the new challenges created by long payment terms. This comes following this year’s likely liquidation of Queensland nickel and Arrium’s voluntary administration. As banks are more likely to offer loans for land and real estate rather than liquid assets often incurred by mining, director of InvoiceX Dermot Crean questioned their motives. “What is the intent here? To put them [workers] out of business?” he asked, pointing to Rio’s now redacted decision. The company, which distinguishes itself from other peer to peer lending groups and consider themselves a market planner, has implemented […]
The fintech phenomenon: Do Aussies only want to borrow from banks?
Marketplace lending, online business loans, robo-advice, blockchain – none of it means anything without consumers. So what do Aussies think of fintech? The threatening, disrupting nature of fintech is a widely discussed topic, with consumer benefits often being the focus. However, what’s interesting is that in the push to get companies, ideas and funding across the line, the actual customer — whether they’re a borrower, investor or seeker of advice — often gets left behind. Robert Allen, director of payments technology and consulting at PwCm spoke about what’s driving fintech at a Fintech Sydney event this week. “Fintech is being pushed forward by a new way of thinking, by millennials, […]
Sapien Ventures’ first fintech investment is in Hashching
Wealthy Chinese migrants will help disrupt the Australian mortgage broking industry via an investment in Hashching, an online marketplace for home loans that is putting pressure on banks and their brokers. The investment will be the first for Sapien Ventures, which was established last year by Victor Jiang and has raised a $50 million fund to invest in fintech and online marketplaces. Much of the capital has been raised from high-net-worth Chinese migrants after changes to the Significant Investor Visa program last year that require migrants bringing $5 million into Australia to invest at least $500,000 in eligible venture capital. Sapien Ventures has invested $1 million in Hashching, and is […]
Focused fintechs get the nod from Silicon Valley
Silicon Valley once threw money at start-ups that aimed to disrupt broad swaths of finance. Now it is rewarding those that have sharpened their focus. While overall venture funding into lending start-ups is slowing, some platforms still are raising money by taking aim at narrower or less-traditional borrowing niches than the first generation of financial-technology firms. Faced with a glut of online lenders and cooling interest from investors in some loans, a newer crop of fintech start-ups is focusing on areas including loans for real-estate projects, people with poor credit ratings, car buyers and, at the extreme, people getting married. Venture funding for US lending start-ups dropped to $US298 million […]
