H2 Ventures, born from AWI’s ashes, will fund 100 fintech firms
This is great news for start-up Australian FinTech companies looking for funding. Venture capitalist brothers Ben and Toby Heap have established a new fintech-focused venture capital fund and accelerator, H2 Ventures, which is raising $10 million to invest in 100 fintech start-ups over the next three years. The establishment of H2 follows the demise of AWI Ventures, where Toby has been managing director, after its ASX-listed parent Australasian Wealth Investors, where Ben was chief executive, withdrew support for VC. The change of heart was spurred by a restructure after the company was stung by its investment in financial services business van Eyk, which collapsed amid a governance scandal. Source: […]
Fintech start-ups become hot property | The Courier-Mail
Hundreds of millions of dollars in funding await local financial technology start-ups as the largest banks, insurers and wealth management institutions jostle for pole position, in fear of missing out on the “next big thing”, experts say. “When companies look at tipping funds into fintech start-ups, talks of $50 million-plus are common as opposed to $1m-$2m,” said AWI Ventures accelerator manager Simran Gambhir. Source: Fintech start-ups become hot property | The Courier-Mail
