Five Fintechs On Friday October 22, 2021
The new edition of the five fintechs on Friday is here!
But first, news from the industry...
Partnerships and Collaborations!TransUnion, announced its investment in UK-based fintech Monevo to deliver highly personalised credit offers to consumers via comparison websites and other third parties. Envestnet | Yodlee recently collaborated with Intuit QuickBooks to provide Financial Data Connections to millions of small businesses. DiviPay and Slyp, two fintechs sparking change across Australia’s financial landscape have a partnered nationally to allow businesses to capture tax-compliant receipt information in real-timeFund raising!Global Processing Services (GPS) raises over US$300 million to accelerate technology development and global growth. Cirralto recently released a major software upgrade involving a strategic investment of $1.1m to unlock multiple competitive advantages to the Spenda system
Below are five fintechs we shortlisted for this fortnight
Tiiik
Tiiik is a blockchain company on a mission to bring decentralised finance (DeFi) to everyday people. They are solving the problem of earning interest on your savings by simplifying access to DeFi products. The technical barriers of entry are removed with a regulated one-click gateway from your bank account to your DeFi digital wallet – where you can save, spend and earn on the same balance. The first stage of the tiiik journey is underway with approval for wholesale investors, and plans to launch for retail investors by the end of 2022.
Illion
Illion Open Data Solutions provides bank data aggregation and analytics services to some of Australia and New Zealand’s largest banks, lenders, broker groups and fintech companies. Providing easy access to Open Banking, illion is one of the first CDR-accredited companies, recently being granted ‘active’ status on the registrar. The company recently launched illion Transaction Risk Score (iTRS), a first-of-its-kind product which offers a highly predictive risk model derived from consumers’ banking transaction data. This is one of many new innovations you can expect to see from illion. You can learn more about illion’s products by contacting Tom Dolman at tom.dolman@illion.com.au.
FreightSafe
FreightSafe is Australia’s largest third party claims managers to the Transport and Logistics industry. Managing tens of thousands of claims each year, FreightSafe partners with insurers to manage their high volume goods in transit books or directly with transport providers to provide under excess claims management. As a result of the explosion in online retail freight volume, FreightSafe has seen enormous growth over the past 2 years and its team is now in excess of 50 people and growing. If you’d like to chat about potential solutions, reach out to the FreightSafe team at hello@freightsafe.com.au
Till Payments
Till is the fast-moving, Aussie-born, global fintech disruptor opening a world of possibilities for businesses seeking simple, seamless, all-in-one payments. Founded in 2012, their team of 100 staff is rapidly growing and headquartered in Australia, with teams in London, Manila and across the US. They have recently secured $110 million of funding in a Series C capital raise, which will be used to accelerate the development of new paytech innovations and boost our expansion into new markets, including the US, the UK and Europe. Till takes the complexity out of getting paid with single-source solutions that ensure merchants can accept any payment wherever and whenever their customers shop, be it online, in-store, or a combination of both.
Koba Insurance
KOBA is pioneering Australia's first real-time kilometre based car insurance. Customers pay an upfront cost to cover their vehicle while parked and a few cents per km you drive. This works through a KOBA Rider – a matchbox-sized device that attaches to the car’s OBD port and communicates with a smartphone app to record when the vehicle is driving. In real-time, the app measures the km you drive and charges you for the insurance you use. Future features will include digital mechanic health checks, a find my car locator and automatic collision detection to dispatch 000. KOBA launches in November. Pre-register today to join the smart car revolution.
Check out our previous issues here!