Afterpay rival Flexigroup signs up Retravision, Bing Lee for humm
Flexigroup has signed up a raft of new retail customers for its humm buy-now-pay-later platform as it builds its offering against market-leader Afterpay.
Australian FinTech company profile #33 – Cloudfloat
Cloudfloat provides buy-now, pay-later arrangements for small businesses
Future of banking is personal and personalised
The future of banking will involve delivering a “goodie bag” of solutions tailored to Millennial customers. Steve Weston, chief executive of “neobank” Volt Bank, said banks traditionally helped customers by dealing with them face to face but provided no additional help on a day-to-day basis. “From the moment you walked outside of the door of the branch, you were left to your own devices. “Neobanks and banks of the future will understand what customers are trying to achieve … often just by asking but also by data analytics.” He said neobanks will be able to provide a “goodie bag of solutions” so customers can achieve their financial goals in a […]
Afterpay rival PayRight targets larger purchases with $30m funds raised
Australia’s booming, but controversial, buy now, pay later market has another major competitor after fintech firm PayRight raised a total of $30 million to expand its operations, which targets consumers making larger purchases than Afterpay allows. The company has largely flown under the radar in the sector, with $4.7 billion-valued ASX-listed Afterpay its most prominent rival. But PayRight is pitching itself as an option for retailers and service providers of bigger ticket items, rather than smaller impulse buys like clothing. Its funding has been compiled through a mix of debt and equity raisings over the last year led by corporate advisory firm Henslow and wealth manager Escala Partners, with the […]
Techboard data shows the startling growth of the Australian fintech sector
US-based data company CB Insights recently reported that VC investment in Australian Fintech had grown from $67m in 2017 to $343 million in 2018. While this does show massive growth in funding for Australia’s fintech sector, data from Australian Startup Data Company Techboard indicates that this represents a significant understatement of the sector’s growth. Techboard has recently released its Report for the December quarter 2018 which revealed another $1.066B in funding for Australian Startups and young tech companies. This was the second consecutive quarter of over $1b funding across all sectors and took the total amount of funding for the 2018 Calendar year to over $4b, up around $1/2b revealed […]
The finalists of the 2019 Fintech Business Awards have been announced
The finalists of the 2019 Fintech Business Awards have been announced. Congratulations and good luck to all the finalists – both individuals and companies.
Afterpay challenger Splitit up 90 per cent on first day of trade
Israeli fintech start-up Splitit has got the tech initial public offering market off to a cracking start for the year, with the payments-splitting company jumping 90 per cent on it first day of trade. Having raised $12 million and listed with an issue price of 20¢ on Tuesday, Splitit ended the day at 38¢, giving it a valuation of $100.3 million, having capitalised on the momentum behind peers such as Afterpay and Zip Co. The company, which was founded in 2012 by Gil Don and Alon Feit, has created technology that sits on top of the payments “rails” used by Mastercard and Visa to allow individuals to split the cost […]
72% of Aussies now using digital payments
Latest numbers from Roy Morgan reveal 72.4% of Aussies are using at least one form of digital payment, with adoption tipped to rise as society edges towards a cash and cardless environment. Results stem from Roy Morgan’s Digital Payment Solutions Currency Report, citing face-to-face interviews with 50,000 consumers in the twelve months to November 2018. Norman Morris, Roy Morgan Industry Communications Director, asserts the change poses a threat to traditional payment methods – e.g. cash and credit cards – exacerbated by the growth of wearable technology such as smartwatches. “The increasing use of new payment technologies is being aided by the growing proliferation and development of smart phones and wearables […]
