Bank-in-an-app startup Pelikin has launched a crowfunding equity raise
Pelikin, a banking alternative designed for digital natives, today launched a $400,000 equity raise on crowdfunding platform Birchal. The fintech startup is founded by 28-year-old Sam Brown, who wants to disrupt traditional retail banking with a more efficient way to manage money in Australia and while travelling abroad. Pelikin users will be able to control and spend in multiple currencies at once, all from the one app and with one debit card, as well as transfer money to other Pelikin users instantly and free. “We’re not ex bankers who’ve had an epiphany that the retail banking world needs to change; we’re frustrated, everyday banking customers who are dedicated to making […]
Australia’s fintech industry wants to remove roadblocks for private company equity crowdfunding
Australia’s fintech industry has called for the fast adoption of stalled private company equity crowdfunding legislation to help more Australian small-to-medium sized businesses access the funds they need to grow. Legislation supporting crowdfunding for private companies was introduced to the House of Representatives in September last year hasn’t progressed. FinTech Australia chair Stuart Stoyan today called on Federal MPs to work together to give priority to the legislation when Parliament returns next week. He also called on legislation to start immediately after passing the Australian Parliament rather than a six month delay. The legislation would give hundreds of thousands of Australian businesses the ability to crowdsource up to $5 million […]
First crowdfund licences granted
Even though the Australian government failed to pass amendments to the equity crowd source funding (CSF) regime before the end of last year, the Australian Securities and Investments Commission (ASIC) has granted seven companies licences to allow them to act as CSF intermediaries under the regime. The first batch of licences has been issued to Big Start, Billfolda, Birchal Financial Services, Equitise, Global Funding Partners, IQX Investment Services and On-Market Bookbuilds. “ASIC has been assessing applications as a matter of priority, as suitable intermediaries needed to be licensed before fundraising under the new regime could commence,” said ASIC commissioner John Price. “Intermediaries have an important gatekeeper role which will be […]
