Thank you for supporting this newsletter in 2022 - nearly 3700 strong ! Lots to come in 2023 to keep one eye 👁️ on what's happening in fintech in Australia/NZ :)
Summary of 4Q2022
Adelaide based digital mortgage platform Tic:Toc has raised $54m in their series D round. 💰
Equity Trustees will be launching a Portal in 2023 🏡 to offer an accessible entry point for opening a philanthropic fund 📋
Yondr Money partnered 🤝 with BillHero to allow customers to pay & monitor their energy bills 🔆 through Yondr. Bill Hero will then run a market-wide comparison on every bill received, so customers can get choice across the market ⚡️
ASX listed Bendigo and Adelaide Bank announced their Unaudited cash earnings (after tax)1 year-to-date (YTD) of approximately $245m, is up 22% on prior corresponding period (PCP).
Envestnet | Yodlee partnered 🤝 with okke to bring bookkeeping 🗂️ software to sole traders and the self-employed. 📋
Zip Co said 💬 it “remains confident it has sufficient cash and liquidity to support the Company through to positive cash EBTDA in the first half of FY24.” 🛒
Raiz Invest launched the "Raiz Property Fund" - where users can now have access to Australian residential property in their portfolio from as little as $5 💰🏠
Sydney based Livewire Markets acquired Market Index to combine analysis 🔬from Australia's leading investment professionals with extensive market data 📊research tools and scans.🗂️
Westpac announced they will invest 🗂️ US$30 million in to ShopBack that will allow credit & debit card 💳 customers to access offers via a dedicated Westpac page in the ShopBack app 📲 & website.
Brisbane based YouPay partnered with My Room - Children's Cancer Charity to give affected children the ability to shop 🛍️ online and allow donors to pay 🎟️
KOBA Insurance and Ayla announced 🎤 a partnership 🤝 to allow users who manage their bills & finances via AYLA to apply for a quote for KOBA’s pay-per-kilometre car 🚙 insurance automatically.
Sydney based Slyp announced 📢 they welcomed Kmart Australia Limited & Country Road Group to the Slyp network. 🧾
Helen Keppe joined Envestnet | Yodlee as their new Sales and Partnerships Lead
ASX listed Payright has announced a capital raising to raise up to $5.03 million via a placement and an underwritten entitlement offer.
Online home loan marketplace JOUST has partnered 🤝 with Nectar Mortgages to provide Australian 🇦🇺 borrowers with a fast, easy, seamless home loan application process ⚡️ and also ensure a constant flow of lead generation for Nectar Mortgage brokers. ✅
Brisbane based Ettle has successfully facilitated a pilot 🛫 transaction between business clients on its stablecoin infrastructure platform 🔗 using the digital Australian 🦘 dollar token "AUDE".
Melbourne based FrankieOne announced 📣 they have raised $23m as part of an extension of their Series A to take the total funding for the round to $45m. 💰
Westpac launched a “Split Billing” function🧾 ➗that enables hospitality merchants to allow groups to split a bill 🎟 so that each individual within a group can pay a portion of their bill. 🍕
ASX listed Wisr has secured a $25m institutional-backed debt facility. 🗂️ 🤝CFO Andrew Goodwin said "Given the current market conditions, diversification of scalable funding sources and balance sheet robustness is prudent."
Commonwealth Bank launched a new credit score hub 🗂️ to enable millions of customers to easily view & access their Experian credit score 👾 & personalised credit report, free of charge. ✅
Bendigo and Adelaide Bank announced their "BEN Express" digital home loan offering has hit $100 million of lending since inception. 🏡 Tic:Toc 👋
Zeller announced a partnership 🤝 with Xero to enable customers to feed their payments, transfers, & spending data from their Zeller Transaction Account or Mastercard into Xero ⛓️ 📬
Rate Money announced 📣 they hit $4 billion in loan settlements, with over 4000 customers since their launch in 2019 📈
David Thodey announced his resignation 📃 as Chair of Tyro Payments to be replaced by Fiona Pak-Poy
Commonwealth Bank announced 📣 cash net profit after tax (NPAT) of $2.5 billion for the quarter ending 30/9. 💰 Matt Comyn, CEO said 💬 “In a competitive environment we remained disciplined and achieved good volume growth in our core markets”
Y Combinator backed Wagetap secured a $15,000,000 senior secured receivable facility ⚙️ from newly created Rixon Capital to support their growth
ASX listed Zip Co announced they are now live 🛒 on eBay Australia 🇦🇺
Non-bank lender Bridgit partnered 🤝 with Finsure. The new partnership sees Bridgit join the aggregator’s lender panel 📋 as its first tech-driven 🔗 bridging solution.
Brenton Charnley launched 🚀 Open Finance Advisors , a consultancy to "help local and global 🌎 businesses make open banking and open finance a reality through the Consumer Data Right (CDR). "
Vanguard Australia launched their Superannuation product - 0.58% fees including a “Lifecycle” option to adjust growth v defensive ⚖️ assets overlayed with your age 🧩
Melbourne based Thriday announced 📣 they are partnering 🤝with Regional Australia Bank to provide transaction accounts 📲 to business customers.
ASX listed Xero reported their HY Result :Operating Revenue 📊 : $658,000,512, Subscribers 📂: 3,496,000, AMRR 👀 : $1.480,912b, Free Cash Flow 💰 : $ 15,000,569
Raiz Invest (once again) reached > $1b FUM with >670,000 active customers. ✅\
Novatti Group (ASX:NOV) was issued 🎟 a RADI for their "International Bank of Australia" 👋.
Westpac announced 📢 that over 720,000 users interacted with their embedded “Personal Financial Management” feature 👾📲 since launch in Sep 2022.
Bill tracking app Ayla announced 🎙 their EOI via crowd-funding platform Birchal 📊
Savings platform Blossom App reached $25m in funds under management
ASX listed MONEYME has appointed an investment bank to assist with a growth strategy for their Autopay 🚗 product & reduce their debt facility. 📊
Sydney based Greener raised $4M AUD in funding led by NAB Ventures & RealVC ✅💰
Commonwealth Bank partnered with More to launch Mobile SIM Plans 📲 to help customers with the cost of living and rising bills. 🧾
ASX listed Wisr announced 📣 a trading update :Prime Loan Book 📕 $885m, Quarterly Revenue $21.2m 📊, Quarterly Originations of $186m 🚗
Wisr also launched “Wisr Today”Australia’s 🇦🇺 first money coaching app 📲 that uses psychology & behavioural science 🧫 to help users build smarter habits & improve holistic financial health. 📈
Plenti reported their Q2 FY23 results : Loan portfolio of $1.55 billion 🗂, Revenue of $33.3 million 📊, Quarterly loan originations of $269m 🚙
Judo Bank announced their loan book 📖 is at $6.8b with a a target 🎯 of $9b being "half way to achieving our medium-term metrics at scale" ✅
humm group gave a 1Q23 business update 🗂:Consumer Finance 📂 volume $601.7m, Cards volume 💳 $296.5m, BNPL big ticket 🎫 up 8%, small ticket 🎟 down 11 %
Embedded finance platform Nine25 App launched their investment EOI on Equitise 👋🏻
Commonwealth Bank partnered 🤝with Griffith University to create a new academy to offer financial crime investigation & compliance programs.
Athena Home Loans, Mortgage Choice & REA Group partnered 🤝 to offer innovative white-label home 🏡 loans ✅
Sydney based Brighte have announced 📣 they have helped Australian’s use $1,000,000,000 ($1b) towards sustainable home 🏡 improvement. ✅
Tanggram launched their EOI for their crowd funding raise via Birchal 🗂
ASX listed Tyro Payments confirmed it has received approaches from several parties expressing interest in a potential change of control transaction, including Westpac.
ASX listed Zip Co updated the market : Group quarterly revenue of $163.2m 📊Transaction volume for the quarter of $2.2b 🛍, Customer numbers for the Group of 12.0m 📲, Active Merchants on the platform increased to 94.1k 🛒
bit.leave launched in Australia 🇦🇺 to help organisations reduce excess leave liabilities whilst also rewarding employees with more time off 🌅or more money 💰
Long-term focused wealth retail management platform pearler launched 🚀 "Pearler Exchange" - an online forum for investors to chat 💬, ask questions, test ideas 💡& share experiences 🤔 in a professionally moderated general advice environment.
NAB announced the launch of lower 📉 variable rates for eligible home loan customers on homes that meet energy efficient criteria. ✅
Airwallex has raised an additional US$100 million in a Series E2 financing round with the same US$5.5 billion valuation. 💰
Sydney based Cape has partnered with Codat to automate 🤖 accounting 🗂 administrative tasks at scale.
Byron bay based Zepto has announced 📢 their launch in to New Zealand 🇳🇿 ✅
NAB has launched "Easy Tap" that turns your Android device into a payment terminal to accept contactless card payments 💳🧾 - whilst also launching "NAB Messaging " for customer chat on web and mobile
ASX listed Tyro Payments has updated its earnings guidance range for FY23 :Forecast transaction value retained at between $40 billion to $42 billion 🍔 EBITDA Range $28m-$34m 📊
Zip Co announced their Co-founder and Global CEO Larry Diamond was moving to New York 🇺🇸 to help "spearhead Zip's next phase of growth in the US"
ASX listed Tyro Payments has provided their monthly transaction summary 🗂 September : $3.529b (+63%) September YTD : $10.367b (+59%)
Raiz Invest released their September 2022 Metrics - 671,243 active customers, $976.57m FUM , 3,080,855 Customer sign ups
Zeller has released their Tipping Report📓 - with QLD being the state with the most frequent tippers
B4REAL - Buy Real Estate With Crypto outlined their brand new lending product that allows customers to use your crypto as collateral
MyState Bank announced they will be increasing their interest by 0.40% on their flagship Bonus Savers account
Sydney based Shaype has raised A$33m💰to accelerate growth, with particular focus on expanding the team to support a full pipeline of Australian clients, as well as international 🌎expansion. ✅
Melbourne based SME automation fintech Thriday has raised $6m to scale by onboarding their 11,000 waitlist & launch new features such as BAS lodgement & automated bill management 🧾🤖