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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.Ā 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.Ā 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 “discountsā€¯. The Federal Court has already found that Kogan misleadingly increased its product prices for its online retail sales in July 2020....
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...
