Fintech unicorn rewrites forex rules to snag big bank profits
The struggles of a speciality coffee shop run by two budding entrepreneurs in Melbourne lie behind the success of Airwallex, Australia’s newest unicorn.
Introducing Australia’s first credit score tracking app
In an Australian-first, a credit score app has been developed to give consumers more access than ever before to their personal credit score.
Protecting cryptocurrency wallets from digital thieves
One way in which cryptocurrency wallets aren’t like conventional wallets is that cryptocurrency wallets can be hacked.
BGL releases Simple Fund 360 integration with Australian Money Market
BGL Corporate Solutions, Australia’s leading supplier of SMSF administration and ASIC corporate compliance solutions, is proud to announce that Simple Fund 360 now has an integration with Australian Money Market, a secure online term deposit & cash investment platform. “We’re thrilled to have Australian Money Market as part of BGL’s Ecosystem”, says Ron Lesh, BGL’s Managing Director. “Australian Money Market Pty Ltd (AMM) is an online Term Deposit platform which allows you to compare and choose Term Deposit interest rates from more than 25 Australian financial institutions. AMM streamlines the administration of investing in term deposits online, saving you time and reducing admin costs. With AMM you can see all […]
Super will help fund the next wave of unicorns
The country’s leading venture capitalists are tipping more direct investment will flow from superannuation firms such as Hostplus into start-up deals, as more $100 million-plus raises test the funding capacity of the VC firms. Last week cross-border payments start-up Airwallex became the latest Australian company to achieve the lauded $US1 billion valuation milestone, making it the quickest local start-up to achieve unicorn status. The valuation came on the back of a $US100 million raise ($141.3 million) for the fintech, which is less than four years old. The raising was led by US investor DST Global, with participation from Sequoia Capital China, Tencent, Hillhouse Capital, Gobi Partners, Horizons Ventures and Square Peg […]
Five ways to better manage cashflow for your business
Did you know, according to the Australian Securities and Investment Commission (ASIC), 46% of all company failures occurred due to inadequate cash flow in 2015/16? Cash flow is vital to a business, and management should be priority number 1. So how can you better manage cash flow in a business, whether you sell products, provide services, or do a bit of both? Here are five ways to better manage cash flow in your business 1. Look at your balance sheets and make a projection In business, like in sport, you need to keep score. Keeping score tells you whether you’re winning or losing. Balance sheets and profit and loss statements […]
Fintech unveils mortgage under 3.5%
Fintech and online lender loans.com.au has unveiled its newest home-loan offering for owner-occupiers with a low interest rate of 3.48%. Dubbed the Smart Home Loan, the mortgage product is a principal-and-interest loan that has no ongoing fees and has a comparison rate of 3.5%. The product has a maximum loan amount of $1m and has several features such as redraw facilities and the ability to split and make additional repayments. Homebuyers can borrow as much as 80% of the value of their targeted property. Loans.com.au managing director Marie Mortimer said the new home-loan product aims to drive competition in the mortgage space and provide other options for borrowers who are […]
Fintech reveals $250m funding boost
In a bid to compete head on with the traditional banks, a fintech lender has secured an additional $250m to fund Australia’s small businesses. In addition to the new funding, Moula has extended its loan terms from 24 to 36 months and doubled its maximum loan value from $250,000 to $500,000. Pricing starts from 15.95% APR and is said to be “unprecedented” in the online unsecured business lending space. CEO Aris Allegos said, “Until now, online business lenders have competed with banks on speed, ease of application and customer service. However, competition based on pricing has been largely absent. “Injecting a quarter-of-a billion dollars into Australia’s businesses and making our […]
