This Sydney anti-fraud fintech just landed $2 million in a Series A round
Secure payments fintech EFTsure has revealed it has closed a $2 million series A capital raising round, led by Sydney venture capital firm Our Innovation Fund. The startup has developed a platform that allows businesses to cross-check in real-time that the name of the payee matches the BSB and account numbers before the payment is made – a practice that Australian banks do not perform. “Payments fraud is a growing area of cybercrime in Australia, with fast payment methods significantly increasing the risk of fraudulent activity. It’s critical to ensure a focus on both fast and secure payments as the new NPP platform is introduced,” said EFTsure co-founder Ian Mirels, […]
AMP backed fintech startup Macrovue completes funding round
Macrovue, an investment service backed by AMP, today announced that it has concluded a funding round of approximately $1.25m and has appointed James Goodwin, previously the Joint Managing Director of Arena Investment Management to its Board. Macrovue is an online investment platform that uses in-house research to construct theme-based equity portfolios, giving Australians a unique and easy route to holding domestic and international investments. It’s best performing portfolios of the past year have been “Social Media” and “Luxury Goods”. The oversubscribed funding round included AMP, James Goodwin, Inception Asset Management and other high net-worth investors. Macrovue has experienced rapid growth since being launched in September 2016 with its […]
Cross-border digital payments company InstaReM receives US$13m investment
The latest round of investment brings the total amount raised to over US$18M from a consortium of some of the largest funds in the region. InstaReM, one of the leading digital cross-border payments companies, has received a US$13 million investment led by GSR Ventures, with participation from SBI-FMO Emerging Asia Financial Sector Fund (SBI-FMO Fund), Vertex Ventures, Fullerton Financial Holdings (FFH), and Global Founders Capital (GFC). To date, InstaReM has raised over US$18 million in the last 18 months. InstaReM, who lists Australia as its biggest market, will use the investment to build its global payment infrastructure, which has grown eight times in volume since its March 2016 funding. The […]
Open banking start-up Basiq snares funding from Westpac and NAB
The venture capital funds of Westpac Banking Corp and National Australia Bank have co-invested in Basiq, a start-up that scrapes financial data from bank webpages to help fintechs compete with incumbent banks. Taking advantages of the government’s moves to create an economy where data moves more openly, it plans to morph into a new banking platform that uses “application programming interfaces” (APIs, or software connecting computers) to improve customer experience of financial services. The seed investment by Reinventure Group, Westpac’s venture capital fund, and NAB Ventures comes after Treasurer Scott Morrison said in last month’s budget an “open banking” regime would be created, liberating customer banking data. The Productivity Commission, […]
DigitalX secures new funding
DigitalX Ltd (Company or DCC) is pleased to announce that it has entered into a conditional subscription agreement and converting loan agreement with Blockchain Global Limited, an Australian incorporated company operating in the Bitcoin and Blockchain space internationally, to invest approximately $4.35m at 2.7 cents per share to acquire an interest in approximately 40% of DigitalX on a fully diluted basis. The price of the investment represents a 28.5% premium to the VWAP of DigitalX’s shares over the last 5 days in which shares were traded prior to the date of this announcement. The investment is conditional upon the satisfaction of specific conditions precedent, which are outlined below. Under […]
NAB Ventures leads $32 million funding for Canadian fintech firm
NAB Ventures led a US$24 million (AU$32 million) series D funding round for cloud fintech firm Wave. The latter, based in Canada, delivers financial management software like payroll, invoicing and accounting. Melissa Widner, NAB Ventures’ general partner, said that the bank is interested in any emerging technologies that offer a connected experience to customers. NAB has more than 450,000 small and medium business customers, making it one of the largest banks in Australia. Wave co-founder and chief executive Kirk Simpson said that nobody understands small business in Australia better than NAB. He added that they are looking forward to explore how to serve businesses better alongside the bank. “We also […]
MYOB founder Craig Winkler just backed a Sydney fintech’s $5 million funding round
A Sydney startup that creates accounting software has secured $5 million in a series A capital raising round. Practice Ignition announced Tuesday that Microequities Venture Capital Fund led the investment, while other new contributors included Black Sheep Capital and Right Click Capital. Craig Winkler, last week named the 12th wealthiest man in Australian tech, is an existing investor in Practice Ignition and chipped in an undisclosed amount for the latest round. Winkler is best known for establishing accounting software firm MYOB then, in 2009, investing $14.7 million in its rival Xero. Xero’s shares are now worth more than 20 times the 2009, as the New Zealand company celebrated passing the […]
Winners at The Finnies!
Congratulations to those Australian Fintech companies and their fearless leaders who won awards last night at the inaugural Finnies Fintech Awards: Female Fintech Leader of the Year: Emma Weston, AgriDigital Co-Founder & CEO Joint Male Fintech Leaders of the Year: Greg Moshal & Beau Bertoli, Prospa Co-Founders Fintech Organisation of the Year: Afterpay Emerging Fintech Leader of the Year: Emma Weston, AgriDigital Co-Founder & CEO Emerging Fintech Organisation of the Year: Spaceship Best Fintech place to work: Prospa Best workplace diversity: Timelio Marketing Campaign or Brand Initiative of the Year: Equitise – Equitise Bubble Excellence in establishing Market Presence (Australia): BrickX […]
