Business Loans

Nov
10

How ASIC and the Australian government can kindle the fintech boom

Australia is beginning to enjoy the benefits of a fintech boom, but for this emerging industry to grow properly it needs infrastructure support. Without it, we’re at risk of seeing Aussie fintechs left behind as overseas players dominate the Australian and Asian landscape. There have been some welcome initiatives recently, like ASIC introducing a regulatory sandbox for start-ups to trial new ideas. But compared to other governments around the world, Australia doesn’t have the political support to turn this industry into a powerhouse. That’s a huge missed opportunity. Research from Frost & Sullivan predicts the Australian fintech market will add $1 billion in value by 2020. Missing out on this […]

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Prospa takes first place in Smart50 Awards

Prospa took out first place at the Smart50 Awards in Melbourne last night.   The Awards recognise Australia’s top 50 fastest growing SMEs and were dominated by fintechs and retailers. Prospa was awarded first place with incredible growth of more than 1000% over the past three years.   “We are thrilled to be named #1 in Australia,” said Beau Bertoli, Joint CEO of Prospa.   “Winning demonstrates that we understand the finance needs of small businesses. However this is just the beginning of our journey. We’ll continue to innovate and create ground breaking finance experiences to help Australian small businesses succeed.”   “We’re the leading online lender to small business […]

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Nov
03

EY FinTech Australia Census 2016

FinTech Australia and EY Sweeney release the most comprehensive analysis of Australia’s fintech ecosystem to date, the EY FinTech Australia Census 2016 FinTech Australia and EY Sweeney are today releasing the inaugural EY FinTech Australia Census 2016, the most comprehensive and detailed report on the Australian fintech industry to date. The research was formally launched in Melbourne today by EY’s Anita Kimber at FinTech Australia’s national summit, Collab/Collide 2016 in partnership with LaunchVic. This significant piece of research was commissioned by FinTech Australia as part of their efforts to foster a thriving fintech ecosystem in Australia. The report identifies important characteristics of the Australian fintech industry, and establishes a set […]

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Oct
31

Prospa reaches $200 million milestone

Australian leading fintech, Prospa, announced the company has hit $200 million in loan originations – cementing itself as the leading force in Australia’s non-bank finance sector.   The milestone announcement coincides with the company securing additional capital from a large local institutional funder for its latest financing round, taking total capital raised to over $100 million.   Beau Bertoli, Joint CEO of Prospa, said the additional $50 million debt capital raising is part of Prospa’s strategy to scale operations.   “This is a significant milestone for our business. It means we can meet increasing demand from small businesses for fast, easy access to finance. And it means we can continue […]

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Oct
17

Morgan Stanley’s Jeffrey McMillan says collaboration is key in fintech

It makes more sense for a global banking giant such as Morgan Stanley to collaborate with innovative fintech start-ups than to try to be innovative itself, according to the bank’s chief analytics and data officer, Jeffrey McMillan. “Probably 75 per cent of our technology that we build is coming from the fintech sector,” Mr McMillan told The Economist’s Finance Disrupted conference in New York. “We don’t really want to be innovators — that’s not what we’re really good at. “We have $US2 trillion ($2.8 trillion) of assets, 2.2 million ­customers, 16,000 advisers and that’s our intellectual capital. But we’re not known for being nimble and quick. ”But the bank wants […]

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Oct
11

Fintech SME lender GetCapital heads to New Zealand

The Australian lender is now able to service New Zealand SMEs through a Lending as a Service partnership. GetCapital, a leading Australian fintech lender that specialises in small- to medium-sized businesses, is expanding internationally through a strategic partnership. The partnership with New Zealand lender Avanti Finance will see the licensing of GetCapital’s technology and underwriting via a Lending as a Service (LaaS) model. This is believed to be a first for an Australian lender. GetCapital‘s CEO Jamie Osborn said expanding into the New Zealand market was the next logical step. “With the large number of SMEs in New Zealand facing the same challenges as the Australian market, we are excited […]

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Oct
10

Why the parliamentary inquiry was good for fintech

Discussion of data sharing, small business loan rates and investment troubles spell increased opportunities for fintech. The parliamentary inquiry into banks saw CEOs of the Big Four – Westpac, ANZ, NAB and Commonwealth Bank – grilled about a range of issues pertaining to their bank’s conduct. While the line of questioning taken by House of Representative economics committee did not directly relate to fintech, the answers and defences at the four inquiries reveal several interesting points that relate to the fintech sector, for both banks and fintech companies. Data sharing Westpac and NAB were questioned over the sharing of customer data in order to increase competition. This is a key […]

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Oct
04

Valiant announces partnership with Octomedia to launch Inside Small Business LoanConnect

Leading fintech business loan marketplace, Valiant and Inside Small Business publisher Octomedia, announced the official launch of an exclusive partnership to bring business loan solutions to Australia’s small business community.   The partnership is a major Australian publishing first which delivers an exclusive business loan search and application portal as a co-branded offer: Inside Small Business LoanConnect.    By dynamically accessing Valiant’s panel of 35+ leading lenders, Inside Small Business LoanConnect compares small business owner’s loan requests to the lender’s credit criteria. Matching works instantaneously through Valiant’s proprietary marketplace technology – saving business owner’s time and stress.   Valiant Co-founders, Alex Molloy and Richard Cotton expressed excitement for the new […]

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