Earlytrade attracts $6 million investment to solve late payments
Earlytrade, an Australian fintech pioneering early payment of invoices from large corporates to their suppliers, announce the newly formed venture fund Shearwater Growth Equity has become shareholders in the business.
Wisr delivers record loan origination growth on the back of an oversubscribed capital raise and multi-product business momentum
Wisr Limited (ASX: WZR), Australia’s first neo-lender, grew new loan originations to a record $18.8 million last quarter, the Company announced as part of its Q3FY19 business update.
Australian FinTech company profile #7 – InLoop
Through Flexischools, LanternPay and Nuonic businesses, InLoop provides advanced tri-party transaction and data analytics solutions.
Aussie fintech Volt Bank starts by asking consumers what they want
London threatening San Francisco’s fintech unicorn dominance, research says
London could soon overtake San Francisco as the fintech (financial technology) unicorn capital of the world, according to a new study. Of the world’s 29 fintech unicorns – private companies valued at more than $1 billion – nine are based in San Francisco, while seven are headquartered in London, the research published Tuesday said. The report, by London-based recruitment firm Robert Walters and research group Vacancy Soft, said London was “showing signs of potential to threaten San Francisco’s historic dominance of the market.” It noted that London’s fintech sector received more venture capital (VC) funding than any other EU city in 2018, securing 39% of all European fintech funding. Berlin’s […]
YTML signs Merit Wealth and expands team
YTML has signed national dealer group Merit Wealth to its Seido platform – a financial services app store which consolidates multiple systems and solutions into a single integrated platform and support document generation including Statements of Advice (SoAs). Merit Wealth (a part of Easton Investments Limited group along with GPS Wealth) is replacing its existing self managed super fund (SMSF) advice application with Seido, recently releasing it to its 400 strong network of accountants with limited SMSF authorizations nationwide. According to YTML chief operating officer Piew Yap, the power of Seido is its ability to allow businesses to differentiate their value proposition to clients and its deep connectivity between financial […]
SME lending is a valuable source of diversification for brokers says fintech lender OnDeck Australia
The Banking Royal Commission has highlighted the perils of relying on a single revenue stream, and SME lender OnDeck Australia is urging mortgage brokers to think beyond home loans and diversify into SME lending. Research by commercial lending fintech OnDeck Australia[1] confirms that 25 percent of Australia’s small to medium enterprises plan to seek additional business finance. Michael Burke, Head of Sales at OnDeck Australia, says, “There is clearly strong demand for SME finance, making this a revenue channel that brokers cannot afford to overlook. Moreover, our discussions with brokers indicate that, on average, one in four of a broker’s existing home loan clients are SME owners, providing a ready […]
ANZ leads regulators towards trade finance blockchain
Regulators in Hong Kong, Singapore and China are working with ANZ Banking Group to digitise trade finance through blockchain technology, a move that will enable banks to make faster lending decisions and regulators to better monitor international capital flows. ANZ is one of seven banks to create the eTradeConnect platform, which allows importers and exporters to make purchase orders and invoices and pipe relevant data directly to banks to streamline financing decisions. Vivek Gupta, ANZ’s head of trade and supply chain for North Asia and greater China, said the platform was the first commercialised trade ecosystem built on blockchain. He said two key regulators in the region, the Hong Kong […]
