Forex fintech Airwallex secures US$3m from Alibaba’s VC firm
Fintech startup Airwallex has strengthened its Melbourne and Chinese development teams and accelerated R&D of its international payments platform following a US$3 million pre-Series A investment round led by Shanghai-based VC Gobi Partners. Gravity VC as well as angel investors Huashan Capital One and Billy Tam (CEO of Easylink Payments, the company behind Chinese payment powerhouse PAYECO) also participated in the fundraising. Currently in beta trial stage, the Airwallex platform is powered by a peer-to-peer algorithmic engine that enables businesses to issue and pay invoices in their preferred currency at the mid-market foreign exchange rate, avoiding inflated bank margins and minimising currency fluctuation risks. Airwallex Co-Founder and […]
H2 Ventures Fintech Expo 2016
H2 Ventures Fintech Expo 2016 H2 Ventures are hosting its third annual Fintech Expo, an opportunity to hear from some of the most talked about and exciting Fintech companies in Australia. Tuesday 19th of July 2016 Get your tickets here: http://h2vfintechexpo.eventbrite.com.au/ Save Save
Fintech investment surges in Q1 but does that mean the Kodak moment nears for banks?
There was a resurgence of activity in the financial technology (fintech) universe in the first quarter of the year after signs of potential rapid deflation at the end of 2015. According to KPMG’s latest The Pulse of Fintech report, the March quarter saw funding to the fintech sector rebound with total investment in fintech companies hitting US$5.7 billion. Globally, Venture Capital-backed fintech companies drew $US4.9 billion in funding, rising from just $US1.9 billion in the fourth quarter of 2015. The report identified larger deals, concentrated in Asia, played a major role in the rebound with 13 $US50 million+ rounds to VC-backed fintech companies, a slight rise from 10 such deals in […]
Australian FinTech marketplace Valiant announces capital raise
Valiant, member of fintech hub Stone & Chalk announced today that the company has completed their seed round capital raising subscription. The $800,000 capital raise was led by fintech venture capital firm Reinventure, supported by H2 Ventures and a selection of prominent angel investors including Mitchel Harad and Vincent Turner. Co-Founders Alex Molloy and Richard Cotton launched the Valiant business loan marketplace in November 2015, with the aim to minimise the angst associated with sourcing, comparing, and securing business loans. Valiant partners with over 26 lenders from across the lending spectrum with more lenders being added monthly. Alex Molloy: “We built the Valiant marketplace to solve a very particular need. Until now, it has been difficult for time poor business owners to quickly […]
Sydney Stock Exchange’s blockchain system targets venture capital funds, commodities
Two-year-old Sydney Stock Exchange is building a blockchain settlement system to avoid high ASX fees and build a market for venture capital funds to exit their investments and commodities markets. The distributed ledger will initially only be used to settle trades in private companies, but once regulatory approval is gained, it will settle trades in publicly listed stocks. SSX will promote the new settlement system as a low cost alternative to the ASX to try to attract private equity funds to exit their investments by listing on the SSX. Settlement instantaneous Once complete in early 2018, SSX hopes to sell versions of its system – which is being built with […]
SocietyOne shifts from edgy start-up to $100m lender
The nation’s biggest peer-to-peer lender, SocietyOne, is growing up fast, and not in the same way as its renegade US cousin Lending Club. An ASIC search has revealed the stranglehold of the so-called media consortium (News Corp, Kerry Stokes and James Packer’s media-free Consolidated Press Holdings) over SocOne after the recent $25 million Series C capital raising. The consortium, through its vehicle S. One Holding, holds a commanding 37 per cent stake, with the News and Stokes interests believed to be dominant in the S. One Holding structure. Not only that, but Westpac’s in-house venture capital fund, Reinventure, speaks for a further 17 per cent of SocOne. Put the two […]
P2P lender SocietyOne eyes growth in market share
SocietyOne, the nation’s biggest marketplace lender, has forecast it will be cash-flow positive within two years, confirming it had raised an extra $25 million to support its growth plans. Completion of the Series C raising, revealed by The Australian last month, came as new chief executive Jason Yetton committed to a five-year goal to build a 2-3 per cent share of the $105 billion consumer finance market. “The opportunities that lie ahead of us are immense,” said Mr Yetton, a former senior Westpac executive. SocOne’s raising had a number of notable features, including a powerful consortium of billionaire shareholders taking a tighter grip on the company. Mr Yetton said Kerry […]
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 […]
