Fintech Newsletter to 30 September 2024

Well.. what a fantastic couple of weeks it has been - culminating in the Brisbane Lions winning the the AFL, Intersekt Fintech Festival and loads of fintech news... One to remember!

• Investing platform Spaceship has been acquired by global investing platform eToro . The transaction could be worth up to $80 million AUD including earn outs. Spaceship has acquired more than 200,000 clients and surpassed $1.5 billion AUD in funds under management.

• Athena Home Loans has attracted investment from REA Group announcing that it has agreed to acquire a 19.9% minority stake in Athena. The consideration was up to $62m.

• Sydney based debt collection platform InDebted announced they've secured $60 million in Series C funding at a valuation > $350 million. Investors include Airtree , Australian Retirement Trust , Premier Capital Partners , Reinventure Group , Perennial Partners and SecondQuarter Ventures .

• Brian Collins , Dominic Pym and ?? Judy Anderson-Firth have announced they are launching fin.amp - a dedicated fintech fund focusing on stage agnostic fintechs - including listed and secondary opportunities.

• HUB24 Limited has announced a strategic alliance with Reach Alternative Investments (Reach Alternatives), that has resulted in HUB24 taking a minority equity holding.

• After leading Data Zoo since its inception - Tony Fitzgibbon has decided to step back from the executive role and focus his responsibilities as Chairman of the Board.

• Sydney based Treasury Management platform Primary has successfully raised a $3.5 million Seed round, led by Carthona Capital The company also welcomed new investors Resolution Ventures and No Brand to their cap table, and Damian Fox to their Board.

• WeMoney launched a partnership with Google called WeMo . This is WeMoney's transition to harnessing responsible and safe AI to help their members understand their finances better to deliver financial education, tips and resources and help close the financial literacy gap in Australia.

• Brisbane based Change Financial announced they had raised $939,375 in a share purchase plan well exceeding their target of $750,000. Change also sponsored the first Fintech 50, A Pitch Extravaganza at Intersekt - one of the highlights of the entire event cc: Tony Sheehan

• mx51 announced a collaboration with Commonwealth Bank (CommBank) to launch Smart Sync and Smart Dash – innovative solutions powered by mx51’s Merchant eXperience App (MXA) and Merchant Dashboard (MD).