Member Showcase April 2018

Here’s a list of member announcements during the month of April.

Wealthtech news

  • Acorns, the app which invests loose change, will now be called Raiz Invest in Australia. The move follows the announcement that Instreet Investment Limited, an Australian asset manager with $500 million under management, had taken a controlling stake in the local arm of the micro-investing app.
  • Data aggregation and portability platform Moneytree has invited Bugcrowd users to identify vulnerabilities across its website, API and mobile applications. Bugcrowd manages crowd-sourced bug bounty programs for organisations.
  • Leading global investment business Macrovue announced the launch of its new Artificial Intelligence (AI) themed investment portfolio built around the AI revolution.

Lending news

  • Australia’s online lender to small business, Prospa, announced the appointment of Gail Pemberton AO and Fiona Trafford-Walker as Independent Non-Executive Directors to the Prospa Board. In addition, current Non-Executive Director Greg Ruddock has been appointed to the role of Chairman of the Board, having recently stepped down from the Board of Eclipx Group Limited to focus on Prospa.
  • Prospa has also topped this inaugural list of high-growth companies, in revenue terms, from the Asia-Pacific region.
  • Business invoice financier The Invoice Market (tim) has announced that it has provided over $300 million in funding to small business borrowers. 

Payments news

  • Set to launch mid-2018, digital banking alternative Pelikin is seeking to change the way millennials fund their lifestyles by reshaping the way Australians save, send and spend money while travelling abroad.
  • Stripe has made its name by providing developers with a simpler way to start charging customers and handling transactions, but they hope to take another step by launching a billing product for online businesses. That’ll allow them to handle subscription recurring revenue, as well as invoicing, within the Stripe platform and get everything all in the same place.
  • Westpac Banking Corp has bought an equity stake in Assembly Payments and will work with the Melbourne-based fintech to integrate the bank’s merchant terminals with customers’ point-of-sale (POS) software, removing the need for transaction amounts to be entered into retailers’ systems twice.

Other fintechs