Tagged: australia

January 11, 2018 @ 8:30 am By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) announced yesterday it had approved the licensing of the first seven “crowd-sourced funding” platforms. Due to a recent change in Australia’s security regulations, these investment crowdfunding platforms may allow businesses to raise up to $5 million – all… Read More

January 10, 2018 @ 11:17 pm By JD Alois  |  

The Australian Securities and Investments Commission (ASIC) has licensed the first crowdfunding platforms or “crowd-sourced funding (CSF) intermediaries” as it is called in Australia. The licensed platforms follow several prolonged years to create workable rules allowing for companies to raise capital online under the new… Read More

January 1, 2018 @ 7:25 pm By JD Alois  |  

2018 is here and 2017 is in the rear view mirror getting smaller by the minute. In the world of Fintech, the past twelve months have been momentous as new innovations in finance have risen in prominence while others, once promising, have waned. So what… Read More

December 27, 2017 @ 1:04 pm By Samantha Hurst  |  

Australian fintech and challenger bank Tyro is set to launch a new set of financial solutions for small to medium enterprises (SMEs). Founded in 2001, Tyro describes itself as Australia’s largest independent EFTPOS provider, focusing on smaller to medium enterprises. The company states it is now has a… Read More

December 17, 2017 @ 6:46 pm By JD Alois  |  

FinTech Indonesia and FinTech Australia have signed a memorandum of understanding (MOU) in a move designed to propel the mutual development of Fintech in both jurisdictions. FinTech Australia is the leading voice of the emerging Fintech industry in Australia. The group is actively engaged with… Read More

December 16, 2017 @ 10:58 am By Samantha Hurst  |  

Less than one year after securing $13 million during its Series A funding round, Aussie fintech startup Airwallex announced it has received an $8 million investment from Paul Bassat’s Square Peg. As previously reported, Airwallex was founded in 2015 and describes itself as a foreign exchange market that makes… Read More

December 13, 2017 @ 10:01 pm By JD Alois  |  

Launched in 2015, Fundnel is a Singapore based investment marketplace that provides unique access to early stage companies for individual investors previously cut out of the pre-IPO equation. Operated by a group of young, highly sophisticated executives, Fundnel is doing equity crowdfunding right and sets… Read More

December 13, 2017 @ 1:31 pm By JD Alois  |  

Australia has endured an interesting odyssey when it comes to equity crowdfunding legislation or crowd-sourced equity funding, as it is sometimes called. According to a report in InnovationAUS, the Aussie government failed to act on promised fixes that would allow private companies to gain eligibility…. Read More

December 12, 2017 @ 4:10 pm By Samantha Hurst  |  

Last week, peer-to-peer lending platform RateSetter announced that it has surpassed $200 million for loans in Australia. The online lender reportedly launched in Australia nearly three and a half years ago.  “This week we passed through $200 million of loans matched between investors and borrowers…. Read More

December 12, 2017 @ 7:54 am By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) has signed a cooperation agreement with the Canadian Securities Administrators (CSA) to foster Fintech innovation, expand the network of information sharing and support Fintech startups. ASIC previously signed a bilateral cooperation agreement with the Ontario Securities Commission which… Read More

December 11, 2017 @ 10:41 pm By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) had previously committed to review its regulatory sandbox and Fintech licensing exemption and upon review, officials have proposed to maintain the current status. The regulatory Fintech sandbox was introduced in December 2016 and enables eligible firms to test… Read More

December 11, 2017 @ 9:45 am By JD Alois  |  

  Hyperwallet, a global payment platform, has formed an arrangment with Amazon to be able to receive disbursements from sales on Amazon’s new Australian marketplace. Hyperwallet said it will now support international seller disbursements from Amazon with its multi-currency payout solution that enables Amazon Marketplace… Read More

December 8, 2017 @ 8:01 am By JD Alois  |  

FinTech Australia, the advocacy group for Australia’s burgeoning Fintech industry, has given its seal of approval following the Australian Parliament’s passage of Anti-Money Laundering (AML) legislation.  According to Fintech leaders, the governmental approach regarding cryptocurrencies, such as Bitcoin, will position Australia as a world leader… Read More

December 7, 2017 @ 10:51 am By JD Alois  |  

Credible, a very promising early stage Fintech marketplace, has gone raised $50 million in an Initial Public Offering (IPO). While the IPO is in itself interesting, the fact that Credible listed on the Australian Securities Exchange (ASX) is telling. The offering, described as the largest… Read More

December 6, 2017 @ 8:20 pm By JD Alois  |  

The Australian Securities Exchange (ASX) will migrate away from its Clearing House Electronic Subregister System or “CHESS” to a system using Distributed Ledger Technology (DLT) commonly referenced as Blockchain. The CHESS platform has been in place since the 1990s. ASX said it is now taking… Read More

December 6, 2017 @ 4:59 pm By JD Alois  |  

Yellow Brick Road has added online lender Prospa to its lending panel. The move was described as an effort to diversify its lending offerings for Australian small business customers. Yellow Brick Road is a full service wealth management company that offers products and services for… Read More

November 30, 2017 @ 9:48 pm By JD Alois  |  

Prospa, an online lender serving SMEs in Australia, had a visit from the Honorable Scott Morrison yesterday. The Treasurer of Australia help to open up Prospa’s new high tech Darlinghurst office, which apparently is quite large extending over two floors housing a team of 150…. Read More

November 30, 2017 @ 9:58 am By Samantha Hurst  |  

Australia-based fintech payments company Credit Clear announced on Thursday it has launched a $10 million Series A Capital Raise, seeking the funds in order to expand its revolutionary data-driven invoicing and collections platform globally. Launched in July 2017, Credit Clear has processed more than $180 million in debt for the corporates in Australia,… Read More

November 29, 2017 @ 10:21 pm By JD Alois  |  

Cyber security risk in the financial services industry is profound and growing rapidly as all forms of finance move online. Recent high profile hacks and attacks exposing private information have dominated the news all too frequently. The Australian Securities and Investment Commission (ASIC) has just… Read More

November 28, 2017 @ 10:11 am By Samantha Hurst  |  

Australian consumer lending fintech, MoneyMe, announced on Tuesday it has finalized an AU$120 million asset-backed wholesale securitization facility led by $100 million from global investment manager, Fortress Investment Group, and joined with $20 million of bonds issued by corporate advisory, Evans & Partners. While sharing details about the investment, Clayton… Read More