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
- Australias 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 Paymentsand will work with the Melbourne-based fintech to integrate the banks merchant terminals with customers point-of-sale (POS) software, removing the need for transaction amounts to be entered into retailers systems twice.
Other fintechs
- Brisbane cybersecurity startup, Entersofthas announced it has protected $1 billion worth of ICO funding from hackers. the company provided security support services for 30 companies that initiated initial coin offerings (ICOs) over the last ten months, all of which were successful.
- Real estate fintech HeroBroker has launched its offering, which is aimed at shifting the $2 billion in annual commission, that is paid to brokers, directly into the pockets of consumers.
- Platform OnMarket has completed for DC Power Co the worlds biggest equity crowdfunding by number of investors raising $2.5 million from more than 15,000 investors