Joust taps new Australian crowdfunding rules in bid to raise $2 million
Joust, an Adelaide based fintech that brings competitive tension to the home loan market by linking borrowers directly with over 20 lenders who compete against each other in real-time, has launched an equity crowdfunding campaign to raise $2 million. The Joust platform brings disruption to the $1.7 trillion home loan mortgage market where $2 billion in fees are paid to mortgage brokers annually. Described as a “consumer hero” fintech company – as Joust places the power back in consumers’ hands – Joust uses technology to provide transparency, competitive tension and superior customer outcomes to the home loan market. Key points: • Aiming to disrupt the mortgage broker channel under siege […]
Stake unlocks $31 trillion US share market for Aussies, launching new trading app
Rapidly-growing Australian fintech startup Stake is set to revolutionise trading and open up direct access to the $31 trillion US stock market as its new trading app launches today. The app is the first to give Aussies access to more than 3,000 shares to invest in some of the world’s biggest companies with $0 brokerage, right from the palm of their hands. The app launch comes as Stake announces significant company growth. More than $50 million (US$38 million) has been transacted on the site, with more than 39,000 trades and 12,000 users who are taking advantage of low-cost, simple direct access to the US market. This next big milestone — […]
Burgeoning innovation culture an opportunity for investors: Equitise
Australia may lag behind Silicon Valley when it comes to start-up culture, but the growing space is presenting increasing opportunities, an equity crowdfunding company has said. Chris Gilbert, managing director and co-founder of Equitise, which facilitates investment in start-ups and businesses, told Nest Egg that while Australia isn’t quite at the level of Israel, the UK or the US when it comes to innovation, Australia’s “evolving” landscape supplies opportunities. Responding to questioning around whether Australia lacked a strong business mindset, as Bernard Salt has previously opined, Mr Gilbert said, “I think that it definitely is true to a certain extent. “It was far more true when I was getting in […]
Do you know who you’re getting into bed with?
As new lenders pop up, seemingly overnight, Jacaranda Finance are going back to their roots. With the new financial year looming, Jacaranda Finance has been hard at work re-building its brand, even going as far as designing a brand new logo. By going back to the company’s original roots of stripped down family values, Jacaranda Finance is reminding loyal clients why they’re the lender for every Aussie. Founded in 2013 by Daniel Wessels, the company was lifted to new heights as Daniel brought on his father, younger brother and a close family friend. Since then, they have worked to provide tens of thousands of Australians with much-needed finance in […]
Open banking framework to drive customer choice and innovation across Australia
Australia’s fintech industry has welcomed an Australian Government decision to put the customer first by pushing back against big bank delaying tactics and introducing open banking reforms from mid-next year. “A government-backed open banking framework will be a game-changer for consumers and businesses, along with drive a new wave of fintech innovation and growth in Australia,” said FinTech Australia chair Stuart Stoyan. “Finally, customers will be able to use a regulated system to unlock the power of their own data to get access to financial services better tailored to their needs.” “This reform is expected to force downward pressure on lending costs, allow people to more easily manage their budget and […]
How the Victorian Government is working to position the state as a global Fintech hub
As Fintech innovations continue to disrupt the financial industry, the state government of Victoria in Australia has been working pro-actively to foster a thriving Fintech ecosystem. It is seeking to ensure that Melbourne’s fintech sector reaches its full potential and continues to create jobs, businesses, technologies and exports. Last week, the Victorian Government led a delegation of Fintech companies to Singapore for Money 2020 Asia. During a Corporate Access day prior to the event, OpenGov spoke to Amelia Fyfield, Deputy Commissioner, Southeast Asia, at Trade and Investment Victoria and Alex Veale, Trade Specialist- Professional Services, Trade Victoria, under the Department of Economic Development, Jobs, Transport and Resources (DEDJTR), to learn […]
Acorns to launch its own superannuation product
The micro-investment app’s new super product, Acorns Grow Australia Super, will be available from March. Micro-investment platform Acorns has today announced it will launch its own super product to sit within its existing app. The Acorns app is popular with Australians, particularly millennials, for its simple approach to investing by rounding up everyday transactions and adding the loose change into an investment portfolio on their behalf. The super product, Acorns Grow Australia Super, will follow in the same footsteps aiming to simplify superannuation. Managing director of Acorns George Lucas said the new super product, like the existing investment product, has been built with young Australians in mind. “We see younger […]
Stuart Stoyan is FinTech Australia’s new chair
Stuart Stoyan is appointed FinTech Australia’s new chair as Simon Cant steps down Stuart Stoyan, who is the founder and CEO of Melbourne-based fintech company MoneyPlace, has become FinTech Australia’s new chair after the association’s founding chair Simon Cant decided to step down. Mr Cant led the founding of FinTech Australia in November 2015. He authored the initial fintech call to action which made the case to government for fintech to become a national innovation priority in the face of global financial services disruption. At the Treasurer’s invitation, Mr Cant also led the development of FinTech Australia’s initial reform priorities agenda in January 2016 which informed the Australian Government’s Backing Australian […]
