Fintech Newsletter to 5 November 2024

And so the silly season begins... Cricket on the telly, a big horse race, an RBA rate decision, A US Election... and the the sun is shining.. and the fintech news keeps coming. What a week!

• ASX listed Zip Co reported their results. They achieved Group Cash EBTDA of $31.7m (up 233.7% vs 1Q24), driven by a particularly strong performance in the US business. Zip US delivered Total Transaction Volume (“TTV”) of US$1,301.8m up 42.8% vs 1Q24 and revenue of US$92.1m, an increase of 43.9% vs 1Q24.

• Equity trading platform Sharesies have partnered with 萬事達卡 to create a new way to pay for Sharesies customers in NZ and Australia.

• mx51 have partnered with Westpac to deliver a next-generation merchant experience. The Presto app connects to 130+ leading POS Integrations, "reduces manual entry errors, and makes reconciliation fast and efficient" with the Presto Reporting Dashboard.

• Perth based fintech One Click Life announced they have over 165,000 registered users on the One Click Life Platform and growing with Revenue of $4 million - growth of 23%.

• Elevate Loyalty Pty Ltd & litecard have formed a strategic partnership to bring innovation to loyalty program communications, offers and engagement channels. This includes the integration of Digital Passes into their loyalty services model.

• Beforepay Group announced the introduction of its third lending product, the Beforepay Personal Loan (Personal Loan), launching on 31 October 2024. This new offering initially provides eligible customers with loans from $2,001 up to $3,000 for a term of up to 3 months.

• Sunshine Coast based ? Telescope AI has launched Echo, their latest API service designed to reshape financial news and analysis. Powered by Telescope’s proprietary Knowledge-Enhanced LLM architecture (KE-LLM), Echo processes complex financial documents, gathering the latest business metrics and operational insights, ranking them by relevance and producing detailed articles and summaries in minutes.

• Westpac announced they are focusing this year on Digital Personal Loan originations, Mortgage system simplification, and "Digital Banker" a platform integrating banker tools and features.

• Sydney based JustFund , helping people through divorce announced their latest $86 million capital raise comprising debt and equity. Investors include Dominic Pym from Euphemia .

• Janine Grainger joined the #fintechfun podcast this week to chat all things crypto - have a listen here: https://open.spotify.com/episode/2OMZqz8mQSbxJN8U6N6lPz?si=b4caade368144ce4

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