Five FinTechs on Friday - August 7

This Friday we cover fintechs in equity crowdfunding, digital-first collections service, trade credit, p2p lending and global money transfers. Check them all out below.P.S. Census Reminder - we need your support and insights. Will only take 15 minutes. The Census informs our dealings with policy makers and the media. It lends our commentary and policy suggestions weight as it allows us to demonstrate that our key points truly reflect the views of the ecosystem.

	Birchal
	Birchal is Australia's leading equity crowdfunding platform, licensed to host offers under Australia's CSF regime. Since 2018, we’ve helped over 45 Australian businesses raise $29m from their most passionate customers and fans online. The last few months have been tough. But as an industry, we’ve shown that CSF has the potential to deliver capital to small business and startups even in the face of uncertainty and risk. As we look towards rebuilding our economy together, the Australian CSF industry stands ready to deliver fast and efficient capital to the Australian small and medium businesses that have the potential to drive our recovery.
	InDebted
	InDebted is a digital-first, data-driven collections service delivering the world’s best customer experience. With the ongoing challenges customers and clients are facing through the pandemic, it’s more important than ever for InDebted to be agile in supporting financial fitness and changing needs. In July we launched a new platform to enhance end-to-end user experience. The customer journey is now simplified with increased self-serve options and customisable payment plans. For clients, automated payouts and reporting are now available. The new platform means customers and clients need less time spent organising their accounts with us.
	Shift Payments
	Shift Payments is a new payments platform that simplifies trade credit. In Australia, the use of credit terms between businesses is so widespread that, if combined as a source of capital, it would create the 5th largest bank in the country by assets. And since much of this trade credit is not provided by financial institutions, every day businesses across Australia are acting like banks.Shift Payments solves this problem by removing the friction of trade terms from the business relationship. With Shift, businesses get paid on time, every time, and their customers get better payment terms. It's a win-win, helping businesses release capital faster and grow.Shift Payments was developed by GetCapital, a non-bank business lender dedicated to meeting the needs of SMEs.
	Harmoney
	Harmoney was established in 2014 to introduce peer to peer lending to New Zealand. Harmoney has since become the largest online personal lending platform in Australia and New Zealand, giving people a quick and simple way to borrow online. Harmoney provides risk-priced, unsecured personal loans up to $50,000 and has helped 70,000 customers borrow more than $1.7 billion through over 80,000 loans (as of Jul 2020). Harmoney make the borrowing experience fairer, faster and more accessible, removing inconvenience, awkwardness and uncertainty associated with traditional borrowing. Harmoney’s purpose is to help and inspire people to achieve their goals through financial products that are friendly, fair and simple to use.
	TransferWise
	TransferWise is a global technology company building the best way to move money around the world. It's one of the world’s fastest growing and profitable fintechs with over eight million customers, processing over A$7 billion in cross-border payments every month, saving customers over £1 billion a year. TransferWise’s borderless account replaces expensive, old world international banking, with customers currently holding £2 billion in balances and one million debit cards in circulation. TransferWise recently announced secondary sales amounting to a total of US$319 million at a new valuation of US$5 billion - an uplift of 43% since May 2019.