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Australian neobank Judo raises $280 million; value soars 60%
In a Series D funding round, Aussie Challenger Bank Judo has raised $280 million in capital. The capital raise comes 7 months after the bank raised $230 million in Series C funding. After the Series D funding, Judo Bank’s valuation is at $1.6 million, 60%...
Yet another BNPL gets listed on the ASX; claims to be different
Introduction In Australia, the year 2020 has been all about buy now, pay later companies going big. This week, yet another BNPL service, Payright Limited got listed on the Australian Securities Exchange and claims to be different from what already is being offered by its...
Zip’s Strategic Investment in UAE-Based Spotii: Expanding BNPL Horizons
Australia’s one of the most trusted buy now, pay later service Zip has announced that it will be investing in a UAE-based BNPL startup Spotii. Through this investment deal, Zip will be providing Spotii access to its BNPL expertise, financial support, access to an international...
Fintech & energy startup Brighte raises $100 million funding
Australian fintech and energytech Brighte has ended the year with a bang by bagging a huge funding of $100 million. The funding by the energy startup was led by the investment fund of Mike and Annie Cannon-Brookes, Grok Inventures by contributing $78 million in the...
Neobank Xinja closes shop amidst COVID-19; returns banking license
Blaming the pandemic and a difficult capital raising environment, Australian neobank Xinja has decided to exit the banking sector in the country and focus on its share trading platform in the United States. The bank announced on 16th December 2020 that it will be closing...
NPP, BPAY & eftpos agree to merge under a new name ‘NewCo’
Three Australian payments infrastructure companies, eftpos, BPAY and New Payments Platform Australia (NPP) have agreed to merge as a single entity. The step has been taken in order to compete better and reduce costs with the growing number of international payments platforms. The three platforms...
Software company Synechron acquires Aussie fintech firm Attra
Australian financial technology company Attra has been acquired by infrastructure technology and consultancy giant Synechron. How much Synechron paid for Attra and other terms of the deal have not been disclosed. Attra’s financial advisor on this transaction is Avendus Capital. Software company Synechron continues its streak...
NAB rolls out built-in smart receipts with Australian fintech Slyp
In a first, Big Four bank National Australia Bank has partnered with Australian fintech Slyp to introduce Smart Receipts as a feature in its mobile banking app. Customers of NAB will automatically receive itemized Smart Receipts from participating retailers directly in the NAB app at...
Investment firm NextGen Funds launches AI fund for startups
Australian investment company NextGen Funds Management has announced the launch of the country’s first AI (Artificial Intelligence) fund. The name of the fund is NextGen Artificial Technology Fund. This fund will be for sophisticated investors who wish to invest in a diverse mix of debt-equity...
Kogan Fined AU$350,000 for Price Inflation Tactics
Ecommerce platform Kogan has been fined $350,000 by the Australian Federal Court for misleading its customers by inflating its product prices before offering “discounts”. The Federal Court has already found that Kogan misleadingly increased its product prices for its online retail sales in July 2020....
