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Aussie fintech Flexigroup rebrands itself as humm
New South Wales-based fintech firm Flexigroup has renamed itself as humm. The financial technology company changed its name following its decision to cut down its product offerings from 23 to 4 in order to simplify its services in the competitive market. The ASX-listed company has...
Sydney’s LimePay Raises $21 Million Ahead of IPO
Introduction Limepay, an Australian buy now, pay later fintech has banked $21 million ahead of its scheduled initial public offering for mid-2021. The investors that contributed to the funding include current backers along with a few institutional and high net worth investors. The payments fintech...
“Square Peg Capital Welcomes First Female Investing Partner”
Australia-based venture capitalist Square Peg Capital hires its first female investing partner, Piruze Sabuncu. The VC firm has recruited Sabuncu along with other hires to push further into Southeast Asia. She will be based in Singapore along with Tushar Roy who relocated to Singapore earlier...
Digital payments & international money transfer fintech Azimo enters Australia
Headquartered in Amsterdam, digital payments platform Azimo has set up its operations in Australia and joined the international money transfer (IMT) landscape to offer its customers competitive exchange rates as well as fast service. The Netherlands-based company has been operating in Europe for the past...
Fintech Finspo launches mortgage broking arm
Introduction Australian fintech Finspo, a mortgage broking firm, has branched out into mortgage broking. The company aims to provide its customers with an aggregated view of their banking costs. Finspo announced the launch of its mortgage broking capability within its fintech start-up. The company also...
RBA’s Aussie Blockchain Initiative: Transforming Digital Currency
The National Australia Bank and the Commonwealth Bank of Australia will join forces to work with the Reserve Bank to develop a proof-of-concept. This will be used to issue central bank digital currency in the form of tokens. Reserve Bank of Australia calls in big...
Eftpos signs deal to purchase digital payments app Beem It
E-payment device maker Eftpos has announced that it has purchased Aussie payments company Beem It from the Commonwealth Bank of Australia, WestPac and the National Australia Bank (NAB). The purchase of the payments app has been executed at an undisclosed amount. The decision to buy...
Quest’s payments solution to launch Airpay TAP
Quest Payment Systems (Quest) a technology provider based in Melbourne, recently launched a software-only tap-on-phone payments solution. The solution called Airpay TAP allows merchants to accept contactless card payments. The payment solution allows for transactions to be executed on nearly any modern Android smartphone simply...
Westpac ditches 10% stake in Zip post signing deal with rival Afterpay
Aussie financial services company Westpac Banking Corporation sold its 10.7% stake in buy now, pay later fintech Zip Co Limited. The bank will be dumping 55.2 million shares, according to its statement to the Australian Securities Exchange (ASX). The offloaded 10.7% will net Westpac profit...
Afterpay becomes Westpac’s first digital bank-as-a-service customer
Westpac has signed on Afterpay as the debut user of its new bank-as-a-service platform which is cloud-based. Afterpay will use this platform to provide its Australian customers with savings accounts and cash flow tools. This will allow the company to understand its customers’ savings and...
