Picking your peer-to-peer platform provider to invest
Disruption is not just happening to retail, hospitality and taxis. It’s also happening in financial services, especially banks, where borrowers and lenders are finding ways to engage, cutting traditional players out of the picture. At best, in this scenario, both investors and borrowers can end up winning, with better lending rates and higher returns. This sector is worth investigating for investors comfortable with debt, but be prepared to do your homework. The sector is expanding rapidly with a range of new businesses, offering differing features. But for most investors the field can be split into peer-to-peer lenders and corporate bonds. The lenders Funds are available for personal commitments such as […]
ASIC’s Greg Medcraft says traditional bank accounts may be obsolete in a decade
Bank accounts could become unnecessary within the next decade because central banks will create digital currencies and allow customers to hold deposits directly with them, predicts Greg Medcraft, chairman of the Australian Securities and Investments Commission. The issuance by central banks of digital versions of their fiat currencies onto distributed ledgers would lead to widespread disaggregation for commercial banks, which would be forced to fight much harder to attract funding alongside market-based funds in a radical upheaval of financial markets. Banks and policy makers should be studying the ramifications for the Australian economy given central bank-issued digital currencies could start to appear globally in the next five to 10 years, […]
P2P lender reaches 2,000 brokers
Peer-to-peer lender RateSetter has accredited 2,000 brokers on its lending platform, amidst a rise in P2P popularity within the general public. Lending volumes through the broker channel, especially in auto and home improvement loans, are doubling every six months, according to the lender’s most recent settlement figures. Across the direct and broker channels, RateSetter has also passed $150m in lending facilitated since 2014. In the last five months alone, lending grew 50% across both channels, passing the $100m milestone in March. “Our brokers tell us that having access to RateSetter’s low-rate personal and business loans gives them a great way to help their clients achieve their goals, whether that is […]
PowerLedger’s Bitcoin IPO powers towards $30m
Perth energy trading platform PowerLedger has raised $17 million in the first two stages of its Australia-first virtual currency IPO and looks set to raise more than $30 million by the time its public offer closes. Demand has exceeded Powerledger’s initial expectations and the success of the “initial coin offering” or “ICO” shows there can be a strong appetite for fundraising offers from Australian firms using this novel form of fundraising and virtual currencies like Bitcoin and Ethereum. Chair Jemma Green said the $17 million came from a discounted private presale of 90 million Powerledger tokens or POWRs to members of the company’s community, and a public presale of 100 […]
Australian FinTech Launches Australia’s Only Dedicated FinTech Jobs Platform – Australian FinTech Jobs
The team behind the highly successful Australian FinTech website have soft-launched their FinTech employment marketplace platform, Australian FinTech Jobs. Founder and CEO, Cameron Dart, says AustralianFinTechJobs.com.au has been born on the back of the highly successful Australian FinTech website and growing demand from the local FinTech community to have a dedicated employment platform for the sector. AustralianFinTechJobs.com.au is Australia’s only dedicated platform for FinTech companies and Recruiters to promote FinTech, financial technology, financial services, banking, legal and IT employment opportunities in Australia. “Australian FinTech have built a new jobs startup for fintechs and startups about startups, fintechs and jobs” “When people think of ‘FinTech’ in relation to employment, they might […]
Perth’s Power Ledger readies first Australia’s first Bitcoin IPO
Power Ledger, the Perth-based peer-to-peer energy trading company, is preparing to launch Australia’s first virtual currency IPO – an “initial coin offering” or ICO. The company, which is trialling community trading of solar energy over a custom private blockchain platform in Western Australia and New Zealand, aims to host a “token generation event” in early September. The amount they are seeking is uncapped and will be determined by demand for Power Ledger’s “POWRS” tokens. Chief executive Dave Martin said that, while they would be satisfied with $5 million, they could raise $10 million or $20 million if demand is strong. POWRs will be tradable on the Ethereum public blockchain platform […]
TruePillars secures $5m in Series A capital raise
TruePillars, the online marketplace lender allowing everyday Australians to fund loans to small businesses, today announced it has raised a total of $5 million in a Series A funding round. The funding round was led by a long-term Melbourne-based private investor, and includes both equity and commitments by shareholders to fund loans to Australian businesses on the TruePillars platform. Further commitments from additional investors are expected to be finalised by 30 September. The business will now commence a recruitment drive to more than double its number of employees over the next 12 months. “This investment will give us the means to further innovate and build on our service, including our […]
Locked out of property market? Five better places for Millennials to put money
By Clayton Howes – CEO of MoneyMe Life sucks for an aspiring property owner right now. You probably already know that the average price of a house in Australia ($656,800) is several (eight) times that of the average full-time yearly income ($78,832). You’ve probably already heard that in the past five years alone, wages have grown significantly slower (13 per cent) than house prices (41 per cent), especially if that house is in Sydney (70 per cent). It’s enough to make you want to drown your sorrows in the most expensive smashed avo and latte combo available! But honestly – enough, already. If you’re as bored as I am of […]
