peer to peer

Australia’s Small Businesses receive boost to their funding with new credit tool

Australia’s leading peer-to-peer business lending platform, ThinCats Australia, has boosted small businesses’ opportunities for funding through the launch of a new credit assessment tool that makes finance applications easier.   Created by local company Othera, the credit assessment tool allows small companies to prequalify for loans on the ThinCats platform, as well as allowing its 300 peer-to-peer lenders make more informed business lending decisions.   ThinCats now has access to Othera’s Lender Dashboard to run credit assessments on loans applied for by small businesses on the platform.   According to John Pellew, Chief Executive Officer and Founder of Othera, the typical prequalification process takes lenders anywhere from two to four […]

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Jun
23

Examining the fintech appeal of business lending in Australia

A question often asked in the fintech space is, “Which area of fintech has the greatest potential?”  The answer invariably sticks with the obvious – insurtech, blockchain, mobile payments, peer-to-peer lending and banking – and while focus to these areas is deserved, business lending has been exponentially gaining steam. Lenders are flocking to the market and it seems every week there is a new entrant, partnership or innovation. The online business lending space is full of diversified products and lenders are constantly looking for new ways to benefit business borrowers. The market is becoming flooded by choice. So, what is the appeal? It’s simple. The space exemplifies fintech as it […]

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Jun
21

Huddle Money raises $6m to create peer-to-peer bank

Sydney-based fintech start-up Huddle Money will emerge from so-called stealth mode this week after securing $6 million backing for its bid to take on traditional banking services with peer-to-peer offers. The company, founded by expat Brits Jonathan Buck and Jason Wilby has been self-funded for the last year, but has closed its first funding round, which was led by Hollard Australia managing director Richard Enthoven. Huddle Money is the latest in a growing band of fintech start-ups to set their sights on opening up new options for consumers in a market that had previously been dominated by large institutions. It says it will do this by challenging existing business models […]

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Fintech marketplace lender Bigstone launches in Australia

Bigstone, a fintech marketplace lender, announced today the launch of simple, fast and fair funding, offering the best small business loans in Australia. Bigstone was conceived by a team of finance industry experts who saw the future of finance in the smart application of technology to cut out the banking middleman to directly connect borrowers and lenders in a safe and secure lending marketplace. With over 100 years of combined banking experience, Bigstone have taken the closely guarded lending recipes used by banks and added new sources of data and proprietary algorithms to deliver the most competitive small business lending rates in the country for creditworthy small businesses.   According […]

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Jun
10

Australian FinTech Company Profile – RateSetter

COMPANY:                       RateSetter FINTECH SECTOR:          Peer-to-Peer Lending WEBSITE:                          www.RateSetter.com.au CONTACT:                        contact@RateSetter.com.au PHONE:                             1300 768 710 FOUNDED:                         2012 FOUNDER(S) / CEO:        Daniel Foggo – CEO DESCRIPTION: RateSetter provide a transparent peer-to-peer marketplace where lenders and borrowers, empowered by technology, can transact together and share the benefits. KEY STATISTICS:         Value of loans Funded:                                 $43,807,549 Number of Loans facilitated:                       2,578 Average Loan Value:                                     $16,993 Average Loan Term:                                      38 months Average Borrower Age:                                 39 Average Borrower Income:                          $90,513 Male – Female:                                               69% – 31% Number of People registered:                      61,215 Applications under consideration:             $4,186,959 Enquiries in past 30 days:                            […]

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The Invoice Market appoints Head of National Sales and Referral Partnerships

Peer-to-peer alternative financier The Invoice Market (tim) has strengthened its senior executive team with the strategic appointment of Bernie Kelly as Head of National Sales and Referral Partnerships.   Kelly comes to tim with an impressive track record of establishing financial services businesses and designing financial product solutions around the globe. Most recently he was Managing Director, International Operations for PolicyLink. In this position, Kelly grew the business, captured significant market share, and successfully negotiated exclusive strategic alliances with international asset managers, investment banks and global life companies.   In commenting on the appointment, tim CEO, Angus Sedgwick said “I’ve known and worked with Bernie over the past 25 years. […]

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Jun
06

Turn debts into income

PROFITING from other people’s debts has always been popular way to make money, and investors seeking income are being given more choice than ever before. While interest rates wallow at record lows and are tipped to fall further, a new breed of peer-to-peer — or marketplace — lenders is gaining ground and other income funds are multiplying. Peer-to-peer lending — which removes middlemen such as banks and allows people to lend directly to borrowers via online platforms — is forecast to at least double in size every year for several years to come. RateSetter CEO Daniel Foggo says Australian peer-to-peer platforms funded $50 million of loans last year and that […]

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Jun
01

Celebrate innovation that puts the customer in charge

It’s no secret that the word innovation is in vogue. It’s not just that it’s one of our prime minister’s favourite words, it’s a trend across the English-speaking world. Use of the word has grown steadily since 1943, according to Google’s database of books published from 1800 to 2008. It was used almost twice as much in 2008 as 1969, the year humans first landed on the moon, and it’s a dead cert the past eight years have been no different. But using “innovation” as a mantra doesn’t make you more innovative. Many people feel that it’s become, or becoming, a meaningless catchphrase. It’s time to reclaim it. It’s a […]

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