ACCC-backed Consumer Data Right for open banking goes live
The Consumer Data Right (CDR) has officially gone live and in its first phase, it requires financial services to share its customer’s data when requested by the customer. The scheme has been designed to give customers greater control over their data. The ACCC provided legislative...
Zeller secures $6.3m seed funding to enter the business banking market
Melbourne-based fintech startup Zeller has managed to secure $6.3 million in a seed funding round. The funding round was led by Square Peg Capital, an Australian venture capital firm. Paul Bassat, the VC firm’s co-founder and partner will be joining as a member of the...
ASX-listed BNPL Splitit stocks soar as it partners with Mastercard
On Thursday, buy-now-pay-later Splitit announced that it will be teaming up with Mastercard to accelerate the adoption of instalment payment globally. Soon after the announcement of the multi-year agreement with Mastercard, shares of the New York-based ASX-listed company Splitit soared by 108% at $1.375. More...
Neobank 86 400 partners with Australian buy-now-pay-later Zip Co
From 9th June 2020, customers of neobank 86 400 can link and view their Zip accounts (Zip Money and Zip Pay) and transactions through the neobank’s app. The strategic partnership between the two Australian fintech companies aims at tapping into digital alternatives as more Australians...
NPP Australia, BPAY & eftpos consider merging their payments infrastructures
BPAY Group, eftpos and New Payments Platform (NPP) Australia might join forces in some form to create a single, and better, payments platform for Australians. After several months of discussions with stakeholders, the board of NPP Australia decided to create an industry committee to investigate...
Australian buy-now-pay-later startup Openpay raises $30 million
Melbourne-based buy-now-pay-later Openpay raises an extra $30 million (A$33.77) via an oversubscribed local institutional placement. The raise follows the announcement of the company securing A$45.44 million from Global Growth Capital on Monday for its business in the UK. This is in addition to the $75...
Zip Co to acquire US-based buy-now-pay-later company QuadPay
Introduction To accelerate its global expansion strategy, Zip Co Limited will purchase the remaining shares in New York-based QuadPay, Inc. for $403 million. Australian buy-now-pay-later company Zip Co has taken this step to strengthen its presence in the US and to take on its rival...
Australian FinTech Afterpay appoints Elana Rubin as its chairman
Australia’s ‘Buy-Now-Pay-Later’ company, Afterpay, formally appoints Elana Rubin as its chairman. Ms Rubin has been filling the role on an interim basis in this Australian fintech company since last year. As of May 25th 2020, she has been asked to take up the position permanently....
Instabug proposes $5M Series A series managed by Accel, as mobile app mode surges
Some startups function like sprinters and others that move like a marathon. I appeared in front of Instabug when I was in Cairo in 2013. Born during the difficult period of the Arab Spring, this spunky startup led to performing it to TechCrunch Disrupt, before...
Igloo allocates $8.2M to deliver insurance to more people in Southeast Asia
Singapore-based Igloo, previously known as Axinan, has allocated $8.2 million as the insurance-tech startup seems to extend its foothold in half a dozen Southeast Asian markets and Australia. InVent, a corporate investment capital arm of telecommunications firm Intouch Holdings, headed Igloo’s extensive Series A round,...
