Member showcase May 2018
Here's a list of member announcements during the month of May.Wealthtech news
- Retirement financial planning solutions provider Mafematica has partnered with Australias leading SMSF software company BGL Corporate Solutions, to introduce the ground-breaking Mafematica retirement solution to BGL clients
- Spaceship, the super fund helping thousands of Australians invest, has launched two new investment products, which are fee-free for low balances of $5,000 or less. Spaceship has also announced that more than 1,400 Australian millennials have, in the last month, put money into these investment products.
- Raiz, a micro-investing platform, is launching its initial public offering looking to raise $15 million with an eye on expanding to Asia. Since its launch in Australia in February 2016, as Acorns Grow Australia, it has grown to $170 million of funds under management.
Insurtech news
- Insurtech Factfin has partnered with Allianz-owned trade credit insurance company Euler Hermes to develop a platform to better assess businesses default risks.
Lending news
- Small business lending provider, Prospa, has announced its initial public offering.
Payments news
- Fintech startup Brighte has secured a $20 million debt funding facility from National Australia Bank (NAB). Brighte allows customers to purchase solar panels, insulation, and batteries for their properties on a no-interest repayment plan from partner vendors.
- Melbourne travel and banking app Pelikinhas partnered with global finance technology provider Tuxedo Money Solutions, to deliver the startups multi-currency prepaid debit card offering.
- Tyrohas announced a deal that will see it deliver an API platform designed to remove the complexities and expense of integrating multiple apps and Point of Sale (POS) systems by providing a single integration solution.
- First announced last October, payments app Beem Ithas launched this month with backing from Westpac, Commonwealth Bank, and NAB. The app allows users to send each payments and requests for payment.
- InstaReM, a digital cross-border money transfer service provider, has partnered with Sao Paulo-based BeeTech, a market-leading South American payment service provider, on Ripples leading enterprise blockchain network for payments.
Other fintechs
- Westpac has committed a further $50 million to Reinventure as the venture capital group rolls out its third fund that will explore opportunities in the fast-growing Asian fintech market and blockchain technology.
- A delegation of more than 60 Australian industry leaders in the areas of fintech and cyber security will head to London in July to exchange best practice ideas and pursue international opportunities. Fintech companies include Everproof, Trade Ledger, TRAction Fintech, Adviser Ratings, InDebted, CYDARM Technologies, HyperIntel, Airlock Digital, Aleron and Randtronics.
- Fintech platform myprosperity has announced it will integrate with major industry player, Macquarie Wealth, to allow customers real-time access to the banks Macquarie Wrap investment platform and its cash management accounts.
- Aussie trade financing deep technology start-up, Trade Ledger, has finished ahead of nine other VC-backed companies from across the world to be named the winner of the Barclays UK Ventures Open Innovation Challenge 2018 in London recently.
- Fintech hub Stone & Chalk has appointed Marie-Anne Lampotang as GM for Sydney. Ms Lampotang, who joins from BT Financial, will report directly to CEO Alex Scandurra.