Coca-Cola Amatil invests in Doshii’s future
Doshii is extremely pleased to announce that it has received the first investment made by Coca-Cola Amatil’s corporate venture programme, Amatil X which is a multimillion-dollar program set up to identify and invest in innovative growth opportunities outside of Amatil’s core beverages business. Chris Sullivan, Coca-Cola Amatil Group Director of Partners & Growth, said Amatil X’s minority share investment will support Doshii to grow and expedite their planned expansion into the Asia-Pacific region and South Africa. “Amatil X was launched in April to explore opportunities for growth outside of our core business and beyond innovation in beverages. This includes investing in companies like Doshii, which is using an innovative, scalable […]
WA Fintech business doubles following major acquisition
WA Fintech Fair Go Finance doubled in size from 1 July following the acquisition of Capfin Money, to create one of the largest non-bank personal loan lenders in the Australian small loan market. Fundco Pty Ltd which trades as CapFin Money (previously Spot Loans) was purchased by Fair Go Finance, providing an exciting opportunity to scale the Australian operations and access a wealth of data. The combined operations of Fair Go and Capfin now establishes the business as one of the largest non-bank personal loan lenders in the Australian small loan market. With this scale there are significant advantages as Artificial Intelligence (AI) becomes a reality in the risk management […]
Australian fintech Tic:Toc closes successful Series B funding
Australian fintech Tic:Toc, the world’s only fully digital home loan platform, today announced it has closed its Series B round, raising $11.5M in funding. The Series B funding, led by Genworth Mortgage Insurance Australia Limited (Genworth Australia) and Blackstone group entity La Trobe Financial, includes both new and existing investors and adds significant depth to the Tic:Toc share register, which also includes Bendigo and Adelaide Bank. The funding will allow Tic:Toc to further advance the capability of its platform as well as build greater brand awareness. It will also partially fund Tic:Toc ’s pending expansion into offering its automated assessment platform as a service to partners, as well as exploration […]
Australia’s first Future Hub to Accelerate Blockchain Development and Implementation
Australian technology innovator Lakeba Group today launched the Lakeba Future Hub, a consortium of leading technology, law, taxation and educational firms, with a focus on accelerating blockchain adoption and development by Australian businesses. Recognised for being one of the first technology companies in Australia to have live commercial blockchain pilots across multiple sectors, Lakeba will work with leading partners Microsoft, IBM, Macquarie University, cryptocurrency and blockchain legal expert Piper Alderman, and taxation expert Grant Thornton, to help businesses navigate the pathway for implementing blockchain and cryptocurrency solutions. New partners relevant to the vision of the Future Hub will continue to be added as the consortium grows in scope and footprint. […]
Open banking rules fuel financial planning shake-up
The financial planning industry is poised for a shake-up as the government’s plan to make it easier for customers to access banking data drives new technology that will allow advisers to respond in real-time to the changing financial circumstances of their clients. Open banking will also change the financial advice industry by allowing advisers to tailor their offering to individuals. Grow Super, part owned by IOOF, and Basiq, part owned by Westpac Banking Corp and National Australia Bank, have worked together to build the software that provides alerts to advisers about when to call their clients. The product will be white-labelled for advisory groups to enhance the quality of customer […]
AFL’s Ted Richards and the human side of robo-investing
There is a lot of talk about the entry of ‘robo advisers’ into the financial advice market. Revelations by the banking royal commission have accelerated calls for technology to provide the answer to the broadening trust deficit and intractable problem of advice being too expensive for the average investor. However, despite these tailwinds, the take up of digital advice in Australia has been relatively modest. This compares to the United States where a significant proportion of investors are embracing technology-enabled advice solutions, such as Betterment and Wealthfront. Home-grown Australian providers, such as Clover and Stockspot, have made inroads with their low cost, automated investment offerings. The challenge remains for consumers […]
How the rich invest: Afterpay’s Nicholas Molnar makes a cool $200 million
The tearaway market success of Afterpay Touch Group has however supercharged the fortunes of its 28-year-old co-founder Nicholas Molnar. Afterpay is fast becoming the go-to payments platform for Millennial shoppers who want to own products immediately but pay for them in instalments. The instalment service is growing rapidly. It has more than 1.8 million customers and is growing at roughly 3300 new customers per day. There are now 14,000 retailers using the service; it will soon be available for buying Jetstar flights and in May announced it was transacting in the US after cutting a deal with retail powerhouse Urban Outfitters. The potential for growth in the US has been […]
London fintech delegation reveals deeper Australia-UK tech links
Ten Australian fintech start-ups are in London this week on a trade delegation arranged by the Australian British Chamber of Commerce, a sign of deepening ties between the two nation’s technology scenes. While England’s game against Columbia in the World Cup and the tennis at Wimbledon offer potential distractions, so excited is the chamber about its official program it has coined a new acronym for it: The “ABFCC”, or “Australian British FinTech Cyber Catalyst”. The start-ups in the group are Everproof, Trade Ledger, TRAction FinTech, Adviser Ratings, InDebted, CYDARM Technologies, HyperIntel, Airlock Digital, Aleron and Randtronics. There’s a regtech and cybersecurity flavour, and the group is being led by Law […]
