Business Loans

Feb
20

GetCapital gets capital and aims for fintechs

Online small business lender GetCapital has secured a $100 million debt facility to launch a new brand, aiming to become the mainstream leader in the fintech industry mirrored on the success of Seek and Carsales. GetCapital chief Jamie Osborn said the fintech, or financial technology, industry was at a “tipping point” and the new subsidiary, businessloans.com.au, wanted to be the go-to online small business lender, as Seek was in employment, REA in property and Carsales in vehicles. He added that unlike the banks who were coming under pressure to increase interest rates, GetCapital was experiencing falling funding costs as lenders got more comfortable with credit risks, allowing it to almost […]

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Feb
14

Peer to peer economy now worth over $15 billion a year

Higher levels of consumer trust in the sharing economy, have coincided with a $600 million increase in size over the past six months, according to a newly released report. The bi-annual Sharing Economy Trust Index, produced by peer-to-peer lender RateSetter, showed that trust in ride sharing platforms such as Uber and online marketplaces like eBay have grown the most. “Our research found that trust levels in the sharing economy have increased substantially over the last six months,” said Daniel Foggo, RateSetter CEO. With the sharing economy now worth over $15 billion a year, the study revealed that over two thirds of Australians actively participate in the market – whether by […]

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Feb
14

Dart aims for a United States of Fintech

Australian tech entrepreneurs have launched a new digital home for the global fintech community, providing an agnostic platform that founders hope will one day become the seat for an inclusive and encyclopaedic fintech commonwealth. Founder and CEO, Cameron Dart, told AB+F that the International FinTech platform, combines a web portal and directory to meet growing demand from the global community to have a dedicated, online and natively fintech presence for a sector that transcends borders. “We like to think of it as the beginnings of a LinkedIn for fintech,” Dart said. This week’s launch, built on the back of the original Australian FinTech, already encompasses more than 1,000 global fintech companies […]

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Feb
09

Australian FinTech launches International FinTech platform

The team behind the highly successful AustralianFinTech.com.au, this week launch their International platform, InternationalFinTech.com, aimed at connecting the FinTech industry on a global scale. Founder and CEO, Cameron Dart, says International FinTech has been born on the back of the highly successful Australian FinTech platform and growing demand from the global community to have a dedicated online presence for their sector. “International FinTech mirrors the Australian FinTech platform, including a dedicated industry newsfeed and a comprehensive directory of FinTech companies globally. “The site also aims to educate users of new financial technologies such as peer to peer lending and cryptocurrency, all presented in simple terms with no financial jargon” says […]

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Feb
03

Kate Carnell urges pressure on banks to change

Small business ombudsman Kate Carnell will today issue a strong warning to government that after 17 inquiries into the banking industry since the GFC the time has come to put pressure on the banks to change their practices. Carnell’s report on small business lending is due to be released today by Revenue and Financial Services Minister Kelly O’Dwyer and Small Business Minister Michael McCormack. It will say the banks have treated small business unfairly. The recommendations include blocking default action on loans under $5 million where the business has complied with the terms. It also wants a revised code of conduct from the banks written in plain English and with […]

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Feb
02

Fintech platforms disrupting business finance

The term ‘fintech’ covers a wide and ever-growing range of technologies. This article explores some of the biggest game-changers, and how they’re impacting the way businesses are managing their financial affairs. Treasurer Scott Morrison said of fintech in 2016: “It has the power to completely bring in a new environment of competition. For small businesses out there who find it difficult to attract capital, for large government agencies who are struggling with convoluted and difficult payment systems … to medium-sized businesses that are trying to bring their products up to date and to connect with their consumers in ways they haven’t before.” Then on his visit to a G20 Conference […]

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Jan
31

Fintech company Spotcap raises A$20million in funding from listed New Zealand bank

European-based online lender Spotcap today announces a partnership with NZX-listed New Zealand bank, Heartland, with the bank providing Spotcap’s Australian operations with A$20million of funding. At the same time, Spotcap today launches its New Zealand operations in Auckland, further cementing Asia Pacific as one of the fastest growing regions for global fintech. * Spotcap provides flexible and accessible funding solutions to small and medium-sized enterprises (SMEs) with unsecured credit lines and business loans of up to $250,000. Rather than basing credit decisions on historical financials, Spotcap has developed a unique, proprietary credit algorithm which provides deep insight into the financial condition of a business, enabling quick, sound credit decisions. “We […]

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Jan
30

FinTech Retrospective: Tyro, RateSetter, Stockspot and Westpac on 2016 and the year ahead

Article by Matthew Parker, The Mitchellake Group.  “If we don’t get our act together and open up banking, the next-gen banking will not be here.” – Jost Stollmann, Tyro Over the past six months, I have been fortunate to work with many of the businesses and thought leaders that are shaping the future of FinTech in Australia. I recently stated my perspective of the FinTech ecosystem in Australia drawing contrasts to the growth I witnessed back home in the UK. This week, instead of spouting my own opinion, I was able to sit down with the leaders that I look up to; those that are pioneering FinTech in this country. […]

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