Posts Tagged ‘Australia’

Australia’s fintech startups are starting to make profits

Australian fintech revenues are up 2.25 times and more of the startups have hit profitability as the local sector matures, according to the latest EY Census released at the FinTech Australia Intersekt conference. Almost one in five (19%) fintech companies are now profitable with those aged three years or older now making up 43% of […]

Irish FinTech company PerfectCard confirms its sale to Australia’s EML for €6m

Irish FinTech company PerfectCard has been sold to Australian payment solutions provider EML Payments in a €6m deal. PerfectCard provides incentive and corporate expense solutions including PerfectIncentive and the recently-launched Pecan Expense. The acquisition will result in the expansion of PerfectCard in Ireland, with plans to increase the number of full-time employees over the next […]

THE BUX STOPS HERE: How a Perth fintech that raised $65 million ended up in liquidation

A Perth-based startup Bux Global with an app promising cheap international money transfers has been put into liquidation. The Federal Court of Australia was told that Bux Global raised at least $65 million. Evidence was given to the court that cash raised went to fund the private expenses of those associated with the startup and that the app […]

Sydney fintech Frollo scores $65,000 grant to take “Fitbit for finance” app to the next level, and reduce stress for Australians

Fintech startup Frollo has taken home a $65,000 grant from the MetLife Foundation, having been named best financial solution for low- to moderate-income Australians at MetLife’s Inclusion Plus competition for its gamified personal finance solution. Frollo is a personal finance app that uses gamified features to help users identify and change bad spending habits. The startup […]

NAB Ventures secures another $50 million to invest in fintech startups: Here’s what the fund is looking for

Australian big-four bank NAB has allocated another $50 million to its corporate venture capital fund NAB Ventures, doubling the funds available to bring the total to $100 million. The fund was launched in 2016 with an initial $50 million to invest over three years. It has backed 12 businesses to date, including property investment startup […]

Australia Will Develop a Nationwide Blockchain Platform

Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO) has announced the formation of a data consortium in partnership with IBM and law firm Herbert Smith Freehills for the purpose of building a groundbreaking large-scale, cross-industry smart contract platform for Australian businesses to collaborate and do business within. When it is fully operational, the platform, which […]

How a Single Mother is Using Blockchain to Help People Get Home Loans in Five Days

In 2015, few things happened in Ruth Hatherley’s life that put her “at a bit of a crossroads”. The single mother-of-one then decided to invest all her life savings into creating a prototype of Moneycatcha. Today, Moneycatcha is one of Australia’s leading fintech startups that uses blockchain to make the process of getting home loans […]

Australians Can Pay Utility Bills With Bitcoin (BTC)

Cryptocurrency exchange Cointree announced a joint-venture with billing platform Gobbill to give Australian customers the opportunity to pay their utility bills with cryptocurrency. The goal of the union is to provide a solution for automated billing via crypto, with Gobbill functioning as the intermediary in the exchange, taking user funds in crypto and making the […]

FinTech Australia Gains Backing of Government to Support Annual Fintech Conference Intersekt

FinTech Australia has shared that the Victorian Government will increase its support for Fintech by signing on to be the major sponsor of Intersekt for the next two year. Intersekt is billed as the leading Fintech event in Australia. This year’s conference will feature the launch of the EY FinTech Census Report, the launch of FinTech […]

EY, Fintech Australia launch 2018 fintech census

Global assurance, tax, transaction and advisory services company EY has partnered with fintech industry peak body FinTech Australia to launch their third annual census aimed at tracking the growth and the progress of Australia’s fintech ecosystem. The 2018 EY FinTech Australia Census is designed to gather intelligence on the changes in the Australian fintech ecosystem […]