Fintech Updates : Recent Episodes
Chris Titley
Created July 1 2022, Fintech Updates with Chris Titley is designed to capture a moment in time with Australian fintech news. It can be used as a record, a diary, a reference point , a piece of data or other forms of content. The purpose is to share , via audio, the happenings of fintech within Australia.
Fintech Updates is produced by Sub11 - A joint venture between Chris Titley and Euphemia.
This summary is supported by Cache:
- Sydney based Shaype has raised A$33m💰to accelerate growth, with particular focus on expanding the team to support a full pipeline of Australian clients, as well as international 🌎expansion. ✅
- Melbourne based SME automation fintech Thriday has raised $6m to scale by onboarding their 11,000 waitlist & launch new features such as BAS lodgment & automated bill management 🧾🤖
- Paytron, the full-suite workflows and spend management platform secures a $250,000 SAFE note from Commonwealth Bank’s venture-scaling arm x15ventures as the winner of the Xccelerate 2022 program 🎉
- Envestnet | Yodlee have partnered with Sydney based Lumiant to power their expansion to new markets including Australia 🇦🇺 and the United States 🇺🇸
- Salary on subscription platform Nine25, launched their Equity Crowd EOI Funding round via Equitise
- George Lucas , current founder, MD & Joint Group CEO (International), of Raiz Invest will be leaving the organisation.
- Cache is Australia’s leading investment-as-a-service provider; allowing any company to offer investment products to their customers. Cache builds, operates and manages white-labelled investment products for its clients and currently powers 78% of micro-investing products in the market.
This summary is supported by Cache:
- Brisbane and SF based fintech Jacobi raised $10m USD in a Series A round led by QIC ✅
- Paytron, YouPay, Cape, Persollo and FIN-PAY were selected as the final 5 in #Xccelerate22 run by x15ventures
- Marmalade, Paytron and Amaka were announced as the Emerging App of the Year finalist for Xero Awards Australia FY23
- Sydney based Grapple announced they are seeing 174% QOQ Revenue Growth and have processed >115k invoices
- ExtrasJar announced they have raised their minimum amount of funding using Birchal in two hours - and has currently raised >$260k
- Cache is Australia’s leading investment-as-a-service provider; allowing any company to offer investment products to their customers. Cache builds, operates and manages white-labelled investment products for its clients and currently powers 78% of micro-investing products in the market.
This summary is supported by Cache:
• Pay and benefits company Flare has been acquired by MYOB 🤝
• Sydney based Greener has partnered 🤝with the Australian Retailers Association to help build a digital solution that will assist thousands of SME's in Australia 🇦🇺 build their own personalised pathway to net zero.0️⃣
• Growth funding platform Fundsquire has reached $110 million AUD in funding to 250+ clients across 3 countries.
• ASX listed Tyro Payments has appointed Jonathan Davey as the new incoming CEO.
• Commonwealth Bank has enabled "PayTo" ✅
Eligible customers will be able to manage one-off or recurring new PayTo payment agreements within the security of the CommBank App and NetBank, including the ability to view, authorise, pause or cancel payment agreements.
The bank also launched "Fuel Finder" available to 250,000 New South Wales residents to predict when they may next need to refuel ⛽️, and then remind them ahead of time about the cheapest 💵 option nearby.
• Hello Clever has partnered 🤝 with AMR Hair & Beauty Supplies to be one of the first ever merchants in Australia to go live with PayTo 👏
• Superhero has launched 🚀 Auto investing allowing you to invest in shares & ETF's on a recurring basis. 🗓
Cache is Australia’s leading investment-as-a-service provider; allowing any company to offer investment products to their customers. Cache builds, operates and manages white-labelled investment products for its clients and currently powers 78% of micro-investing products in the market.
This summary is supported by Cache:
• ASX listed Tyro Payments rejected an unsolicited, non-binding & indicative proposal to acquire them for $1.27 per share.
• FinTech Australia ran their annual fintech festival called Intersekt in Melbourne with over 60 panel/Roundtable sessions in 2 days 💃🕺
• Micro investing platform Blossom App 📲increased targeted returns to 4% p.a. after the recent cash rate increase.
• Sydney based upcover launched their instalment program for insurance policies 🗓
• ExtrasJar launched their EOI phase for their crowd-sourced funding via Birchal. 🗂
Cache is Australia’s leading investment-as-a-service provider; allowing any company to offer investment products to their customers. Cache builds, operates and manages white-labelled investment products for its clients and currently powers 78% of micro-investing products in the market.
Karta Gift Cards a Sydney-based FinTech, has launched their new platform called 'Karta Cards'.
This industry first will enable every business everywhere to issue & process Gift Cards 🎁.
Sydney based Hello Clever has raised $4.5m to build the next generation of payment & rewards.
Sydney based Paytron partnered 🤝 with JP Morgan which will enable customers to access localised banking in even more countries whilst increasing their processing capability. ✅
Snippets is produced by Sub11. Sub11 is a joint venture between Chris Titley and Euphemia (Investment partner) telling stories of Australian fintechs and founders whilst using broader content as the catalyst to enable fintech companies to grow.
For more information www.sub11.com.au
Bnedigo and Adelaide bank have announced 📢 that Up has now over $1b in deposits & 550,000 customers 🛒
Commonwealth Bank has reported their FY Earnings:
Cash NPAT 💰 : $9.5b
Digital Customers 💻 : 8m
Commbank App Customers 📲: 6.9m
Mentioned the word "digital" 67 times in the preso 🗂
ASX listed Openpay has provided a trading update for July:
TTV 🛒 : $39.9m
Revenue🗂: $3m
Active Customers 🛍(total) :323,000
Active Merchants 🏪(total) : 4100
Sydney based investing platform Blossom App have announced 📣 they now have $22m in FUM & > 6000 Customers 📊✅
Snippets is produced by Sub11. Sub11 is a joint venture between Chris Titley and Euphemia (Investment partner) telling stories of Australian fintechs and founders whilst using broader content as the catalyst to enable fintech companies to grow.
For more information www.sub11.com.au
Gold coast based Send Payments has partnered 🤝 with ASX listed Pexa to allow multi-currency 💱 property transactions quickly and cost effectively ⚡️
Wagestream has partnered 🤝 with micro-savings platform Blossom App to offer employees a way to grow their savings by giving them access to the Blossom Fund. 📲
Up has launched “Maybuy” allowing customers to create an automated savings plan for individual items they've found shopping online – dubbed a “Maybuy” 🛍✅
ASX listed Wisr announced their Quarterly result :
4Q Revenue 📊 $17.6m
4Q Originations 🚙 $186m
Total loan book 📒 $1.2b
ASX listed Raiz Invest has updated the market for Q4:
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Revenue $4.3m 💰
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ARR $14.7m 🎯
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Global Active Customers 652,702 ⌨️
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Total Australian FUM $940m 📊
Westpac have announced they will be launching a digital mortgage 🏠 product that allows customers to be unconditionally approved starting from 10 mins ⏱
Debt recovery solution InDebted has raised $22.5m to grow their team & deploy new features 🎮 ✅
ASX listed MONEYME has provided a 4Q update 🗂:
• Gross revenue of $55m 💰
• Gross customer receivables of $1.4b 📚
• Originations of $334m 🚗
Share based loyalty platform Upstreet have partnered 🤝with Maggie Beer Holdings to offer fractional shares in the company with each loyalty purchase🛒🧀
ASX listed Zip co has provided a market update for Q4
Revenue 📊: $ 160.1m
Transaction volume📲 : $2.2b
Customers 🛍: 12m
Merchants🛒: 90.7k
Bendigo and Adelaide Bank owned Up have launched to the public details around their digital home loan product called “Up Home” 🏠
Long term investing & Wealth Management platform pearler has successfully closed a $7.8m seed round.
Sydney based Refundid have closed their seed round, raising $12m including both debt & equity.
Sydney based Salary as a service company Nine25 App have launched their platform to private beta users 📲👾
Brisbane based education payments provider Cohort Go have been acquired by Nasdaq listed Flywire 🤝🔗
ANZ has confirmed it is in discussions with KKR & Co. Inc. about a potential acquisition of MYOB.
Melbourne based Archa have announced 🎤 a Fast ⚡️receipt🧾 upload feature with Xero helping businesses collect & automate 🤖 expenses. ✅
Snippets is produced by Sub11. Sub11 is a joint venture between Chris Titley and Euphemia (Investment partner) telling stories of Australian fintechs and founders whilst using broader content as the catalyst to enable fintech companies to grow.
For more information www.sub11.com.au
ASX listed Zip Co & Sezzle have terminated their merger agreement.
Snippets is produced by Sub11. Sub11 is a joint venture between Chris Titley and Euphemia (Investment partner) telling stories of Australian fintechs and founders whilst using broader content as the catalyst to enable fintech companies to grow.
For more information www.sub11.com.au
Sydney based WeMoney have announced they have raised $7.0m💰to support their vision of financial wellness for all Australians ✅
Snippets is produced by Sub11.
Sub11 is a joint venture between Chris Titley and Euphemia (Investment partner) telling stories of Australian fintechs and founders whilst using broader content as the catalyst to enable fintech companies to grow.
For more information www.sub11.com.au
ASX listed Zip Co owned Pocketbook have made the decision to close the Pocketbook app 📲 & web service💻 effective 5 August 2022.
Snippets is produced by Sub11.
Sub11 is a joint venture between Chris Titley and Euphemia (Investment partner) telling stories of Australian fintechs and founders whilst using broader content as the catalyst to enable fintech companies to grow. For more information www.sub11.com.au
Sydney based Adatree has launched the world’s 🌎 first Open Data marketplace called “Adatree Exchange” streamlining how organisations discover & procure CDR-ready, third party software capabilities 📖🏪💻
Snippets is produced by Sub11. Sub11 is a joint venture between Chris Titley and Euphemia (Investment partner) telling stories of Australian fintechs and founders whilst using broader content as the catalyst to enable fintech companies to grow. For more information www.sub11.com.au
“FinTech Organisation of the Year" Moonova has merged 🔗 their business with Moneytech FX to be called “Monoova” 🛖. The merged business will combine domestic & foreign 🌎 payments into one platform to automate & streamline payment 💳 processes.
Snippets by Sub11 aims to provide short form audio content on the happenings of fintech within Australia.
Brisbane based Bloom Impact Investing have announced 📣 they have $1m of funds invested in climate solutions 📊 since launching 3 months ago.
Snippets by Sub11 aims to provide short form audio content on the happenings of fintech within Australia.
Sydney based upcover has raised $2.7 million in equity & $2.0 million in debt to continue to build out their customer acquisition & product development strategy 💰✅
Snippets by Sub11 aims to provide short form audio content on the happenings of fintech within Australia.
Super Rewards have announced 📣 they are now live “in-store” at over 300 retailers representing >1000 stores. 🛍🛒
Snippets is produced by Sub11.
Sub11 is a joint venture between Chris Titley and Euphemia (Investment partner) telling stories of Australian fintechs and founders whilst using broader content as the catalyst to enable fintech companies to grow. For more information www.sub11.com.au
ASX listed Judo Bank have announced 📣 their 30/6/22 gross loan and advances book was $6.09b📊
Snippets by Sub11 aims to provide short form audio content on the happenings of fintech within Australia.