Tagged: australia

February 10, 2020 @ 1:51 am By Omar Faridi  |  

London-headquartered Paysend, an international funds transfer company, has confirmed the launch of its money transfer services in Australia. Paysend’s services can now be used in the $1.3 trillion economy to send funds to companies located abroad. The firm said that China, India, and Vietnam are… Read More

February 9, 2020 @ 10:38 pm By Samantha Hurst  |  

Australian cryptocurrency exchange platform CoinJar recently announced it has launched its mobile app for Android smartphones. Founded in 2013, Coinjar claims to be Australia’s longest-running digital currency exchange. The company’s services allow users to buy, sell, store, and spend digital assets. “As an award-winning, venture… Read More

February 6, 2020 @ 10:41 pm By Samantha Hurst  |  

Airwallex, an Australia-based fintech company, announced on Thursday it has teamed up with Visa to launch the Airwallex Borderless Card for business. According to Airwallex, the new card will enable Airwallex account holders to pay suppliers in seconds and “empower” their teams to make corporate… Read More

February 5, 2020 @ 1:59 pm By Samantha Hurst  |  

Xinja Bank, an Australia-based neobank, has reportedly hit $100 million in deposits and has attracted 15,000 customers to its platform in just three weeks. According to Xinja, customers are taking advantage of its new ‘Stash’ digital bank account and 2.25% savings rate. According to iTWire,… Read More

February 3, 2020 @ 6:52 am By Omar Faridi  |  

The Commonwealth Bank in Australia is planning to compete with its rivals by establishing 25 new Fintech-focused businesses within the next five years. The institution says it is preparing to launch the products and services offered by the Fintech firms to its millions of clients… Read More

January 30, 2020 @ 8:29 am By Samantha Hurst  |  

Payment processing platform Klarna announced on Thursday it has expanded its services to Australia. Klarna mobile app, which will be available on iOS and Android devices, will enable users to shop and pay with Klarna at any online retailer. Klarna also reported that it has… Read More

January 27, 2020 @ 5:54 am By Omar Faridi  |  

Australia-based digital banks Xinja, Judo Bank and 86 400 have been attracting millions of dollars worth of savings from the nation’s banking clients after the introduction of their high interest rate accounts. Traditional industry players like ANZ, Westpac, NAB and Commonwealth Bank have reportedly lost… Read More

January 23, 2020 @ 7:58 am By Samantha Hurst  |  

Australia-based digital brokerage platform Stake announced this week it has officially launched its UK beta operations.  Founded in 2017, Stake claims it democratizes global share markets to bring the “world’s largest and most dynamic” market to the rest of the world. “We believe brokerage is… Read More

January 20, 2020 @ 8:25 am By Omar Faridi  |  

Volt, one of Australia’s first neobanks to have received a full operational license in the country, has reportedly secured an additional $70 million in investments. Steve Weston, co-founder and CEO at Volt, stated: “The high levels of interest we are receiving from potential banking partners… Read More

January 16, 2020 @ 3:52 pm By Samantha Hurst  |  

Wiser (ASX: WZR), an Australia-based neo lending platform, announced on it has secured commitments to raise $33.5 million through a placement of approximately 181 million ordinary shares. According to Wisr, the placement was supposed and allocated to new and existing institutional investors. “The issue price… Read More

January 16, 2020 @ 7:35 am By Omar Faridi  |  

Banxa, an established provider of fiat gateway infrastructure to major digital asset exchanges such as Binance, has reportedly secured $2 million via a Series A investment round. The funding round was led by NGC Ventures, one of the most active investors in the crypto-asset and… Read More

January 15, 2020 @ 10:41 pm By JD Alois  |  

Australia enacted investment crowdfunding laws some time ago but the initial iteration was a bit of a no starter due to some glaring omissions by the Australian government. In late 2018, this changed when the parliament fixed the most pressing issue – the fact that“proprietary… Read More

January 14, 2020 @ 11:17 pm By Cali Haan  |  

San Francisco-based cryptocurrency trading platform Kraken has acquired Bit Trade, a cryptocurrency trading platform billed as, “Australia’s longest running digital currency exchange.” Kraken was founded in 2011 and Bit Trade in 2013. “With this acquisition, Kraken will focus on being the premier crypto service in… Read More

January 14, 2020 @ 7:50 am By Omar Faridi  |  

Australia-headquartered Power Ledger, a blockchain-based energy solutions provider, has reportedly acquired a 250 kilowatt (kW) photovoltaic system that will use a distributed ledger technology (DLT)-powered data management and settlement platform. According to a press release, Power Ledger acquired the system from Perdaman Advanced Energy, an… Read More

January 13, 2020 @ 11:15 am By Omar Faridi  |  

More than $1.4 billion in capital was secured by Australian Fintech firms in 2019 across 38 deals or partnerships, setting a new record. The significant increase in financial technology investments may be attributed (partially) to the rising number of rounds of at least $100 million,… Read More

January 10, 2020 @ 7:47 pm By Omar Faridi  |  

Traditional bank and Fintech collaboration and Open Banking are becoming quite common for financial institutions throughout the world that are planning to update their product offerings for small and medium-sized businesses (SMBs). India-based private lending institution SBM Bank recently teamed up with PayNearby to introduce… Read More

January 7, 2020 @ 10:15 am By JD Alois  |  

The former CTO and co-founder of Atom Bank, Paul Hanks, has joined Australia based DayTek Capital as a Technology Advisor. DayTek Capital reports that it is on track to launch “Infinity” within the first 6 months of 2020. Infinity seeks to become the first “product-disruptive… Read More

January 6, 2020 @ 7:42 am By Samantha Hurst  |  

Australian SME challenger bank Judo Bank has formed a partnership with InfraRisk Pty Ltd., a supplier of credit management solutions and a wholly-owned subsidiary of Pintec Technology Holdings Limited, to support its lending business with a smart and highly efficient cloud-based SaaS solution. Judo Bank… Read More

January 3, 2020 @ 5:03 pm By Omar Faridi  |  

Puerto Rico-based digital bank First Finance International Bank (FFIBI) has reportedly partnered with the Australia-headquartered Seafarer Foundation, in order to offer online payroll and card services for the marine industry. By working cooperatively with FFIBI, the Australia-based foundation has launched a General Purpose Reloadable Multi-Currency… Read More

December 29, 2019 @ 7:27 pm By Omar Faridi  |  

Australia-based Fintech firm Groupee has introduced a real-time payment app that lets groups of people share the cost of products or services they purchase. For example, the app allows people to split the cost for a meal, gift, and tickets. Groupee provides a prepaid Visa… Read More