FinTech Australia, a national association for the Australian FinTech Startup community, announced earlier this month it received a $200,000 funding grant from the Federal Treasury. This news comes just a few months after the organization secured $300,000 from Launch Victoria. Federal Treasurer Scott Morrison MP revealed details about the new funding grant at FinTech Australia’s inaugural summit, Collab/Collide 2016 in Melbourne.
According to FinTech Australia, the funding grant will be used for undertaking international marketing and PR activities that raise awareness of the Australian FinTech ecosystem and its fintech startups overseas, through digital channels and the Austrade network. Simon Cant, FinTech Australia President, stated:
“We have been thrilled with the extent to which the Federal Treasurer and the Government have seen and embraced the potential of fintech, RegTech and the Data economy to transform Australia. This funding grant will help FinTech Australia really bang the drum for our most exciting fintechs, regtechs and data ventures, particularly those with global potential, and put them on the international stage.”
Danielle Szetho, FinTech Australia CEO, noted:
“We are very grateful to the Federal Treasurer and to the Government for their deep commitment to and support of the industry. The funding grant the Treasurer announced at our highly successful inaugural summit today is a terrific endorsement of the work FinTech Australia has been doing to help the industry grow.”
She then added:
“It’s great validation of the alignment of our vision for Australia with Treasury’s, particularly the need to attract more great talent into the ecosystem, and partnership opportunities to help our best fintech companies expand into other overseas markets.”