Below are announcements from our members for December 2017:
- RateSetter Australia has hit the AUD$200m mark in lending a little over three years removed from launching down under. The platform, which lends to both businesses and individuals, has doubled its lending volumes over the past six months.
- Personal lender MoneyMe has completed a $120 million capital raise and says it will consider an initial public offering in early 2019. MoneyMe says the strong and stable government support for fintech and the upcoming open data reforms were key drivers of the raise.
- Online cash flow lender Waddle has secured a $50 million debt funding facility, as it revealed it almost doubled its lending volume in the last financial year.
- Clearmatch, SocietyOne’s technology platform has announced the appointment of Anna Harper as Chief Financial Officer and Head of Markets. Ms Harper will also take an executive director role and shareholding in Clearmatch to assist in its ramp-up into full commercialisation in Australia, and abroad.
- Fintech lenders Prospa and Credi have taken out top spots in the inaugural Australian National Techboard Awards
- Melbourne-based invoice finance marketplace Timelio is set up for a capital raising next year after striking a supply chain finance (SCF) partnership with the residential and commercial builder Icon.
- Four FinTech Australia members have been listed among Australia’s 50 fastest growing tech companies by Deloitte. Congratulations to zipMoney, GetCapital, Prospa and MoneyMe.
Payments/supply chain members
- Airwallex and Railsbank, a UK-based open-banking and regtech platform, have announced a strategic partnership enabling Airwallex customers to transact in and out of the UK & EU economic zones, and Railsbank customers to access the cross-border FX and payments capabilities of Airwallex.
- Airwallex has also closed a $6 million investment from Square Peg ahead of a planned Series B next year.
- Singapore-based company Instarem – which was originally founded in Australia – is expanding its international payments service into Malaysia
- Australian grain exporter CBH Group and Sydney-based startup AgriDigital have successfully completed a blockchain pilot in Australia’s grain industry.
- In addition, leading food and agribusiness bank Rabobank and AgriDigital have teamed up to push the boundaries of blockchain technology in agricultural value chains. A ‘proof of concept’ – which was conducted earlier this month in Australia –successfully demonstrated a purchase and sale of commodities on a blockchain.
- Finch was named as one of ten startups to watch in 2018 by the Startup Smart news site.
Wealth and investment members
- SelfWealth was publicly listed on the ASX at on 23 November (under the ticker SWF). The company, which was founded by former CBA banker Andrew Ward in 2012, provides its users with a social portfolio construction network as well as a flat fee brokerage service.
- Moneysoft has appointed eight new staff in response to growing demand for its suite of personal financial management solutions.
- Insurtech company Audeamus Risk took part in the NSW Premier’s delegation in China, including attending the 26th Joint Economic Meeting in Guangzhou, to take part in a series of informative discussions and roundtable debates surrounding the future of fintech innovation.
- FinTech Australia member Look Who’s Charging has helped NAB win the Money Magazine best of the best award for ‘Best Innovative Banking Feature’. Look Who’s Charging uses data and public information to provide customers with detailed information about their transactions.
- H2 Ventures held its final demo day for 2017, with 17 of its startups pitching their wares at the H2 Expo on 6 December.
- Tank Stream Labs has announced it will be expanding into Perth in a bid to help link the startup ecosystems on Australia’s east and west coasts.