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Fintechfun Newsletter 3/9/2024
Another jam packed edition to finish off reporting season 🙂 1 quarter to go…
Raiz exiting Malaysia
Raiz to close its Malaysian business operated as a joint venture with Jewel Digital Venture Sdn Bhd
Fintechfun newsletter to 4/7/2024
With all the “winter” chat in winter – will we see the re-emergence of sub vertical of tech…or not?
Salter Brothers Tech fund invests in Marketboomer
The Salter Brothers Tech Fund has led a $4.9m investment in Marketboomer, a proptech company offering a B2B eProcurement SaaS platform for the hospitality industry.
Upworth launches Savings Account Scanner
Australian households collectively miss out on approximately $30 billion in unearned interest annually on savings deposits due to sticking with lower-yielding products
Novatti onboarding 500 Merchants
Novatti Group Limited has reported strong market traction with a pipeline of over 500 new merchants to be onboarded by the end of H1 FY25, following its transition to a market-led, customer-focused strategy.
More Summaries
Fintech Fun
Rich Data signs US client
M&T, the sixth-largest commercial bank in North America, will use RDC’s explainable AI to gain insights into cash flow health and credit risk.
Fintech Fun
Plenti delivers 21% increase in loan portfolio
Plenti Group Limited reports strong financial and operational results for FY24, with a 21% increase in the loan portfolio to $2.1 billion and a 47% revenue growth to $211 million.
Fintech Fun
Judo bank – Update , Gross Loans and Advances now $10.2b
The bank expects one-off expenses of $7 million in FY24 due to CEO succession and restructuring but maintains its underlying FY24 guidance, targeting PBT between $107 million and $112 million.
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Sub11 Member Profile – Spark Finance
Spark provides tuition loans to high-calibre students ANZ students travelling overseas and international students coming to Australia with the goal to democratize education by using AI to better understand the employment outcomes of these students.
Moneyme gross revenue $53m
Moneyme Limited reported stable third-quarter results with a gross revenue of $53 million and a loan book balance of $1.15 billion, maintaining a focus on higher credit quality and secured assets which resulted in a slight increase in net credit losses to 4.8%.
Zip quarterly exceeds $200m
The company, a digital financial services provider in ANZ and the Americas, offers innovative payment solutions and maintains a strong commitment to responsible lending.
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