The submission highlights the fintech sector's significant growth, from a $250 million industry in 2015 to a multi-billion-dollar industry

FinTech Australia has announced the finalists for Australia’s most prestigious annual fintech business awards, The Finnies. 

The company also highlighted a strong demand for its ABS transactions, operational efficiencies leading to reduced funding costs, and an improvement in credit performance, setting a positive outlook for FY25.

Credit Clear Limited reported a record Q3 revenue of $10.5 million, up 22% from the previous corresponding period (pcp), driven by the acquisition of two new tier-1 clients and marked its fourth consecutive quarter of positive cash from operations, now totaling $1.8 million year-to-date.

Raiz Invest Limited reported a 29.2% annual revenue growth to $5.6m in Q3 FY24, with a 3.7% quarterly increase in Australian active customers to 303,938 and a 10.5% quarterly growth in Funds Under Management (FUM) to $1.34bn

The bank has also built a significant deposit franchise with a term deposit balance of $7.5 billion, marking its transition from a startup to an established player in the Australian banking sector.