Fintechfun Newsletter to 12th August 2024

A massive two weeks of funding rounds, partnerships, ASX results and a little bit of M&A. M&A in fintech has been very light on - but what's around the corner?!

• Rich Data Co , an AI decisioning platform provider for lenders, has secured $9 million from Acorn Capital Management , completing a $37 million Series B funding round.

• Birchal announced the launch of "Birchal First" - Supported by LaunchVic , it allows Birchal to combine the benefits of angel syndicates, and the scale of Australia's CSF regime, to improve the flow of funding to Australian founders, and democratise access to exciting investment opportunities.

• Zip Co reported positive net cash from operating activities of $65.2 million for the quarter ended June 30, 2024.The company's cash and cash equivalents increased to $353 million, with $231.6 million in restricted cash.

• Furthr has partnered up with Raiz Invest to launch their new 'Automatic Rewards' product. 300,000+ customers are enrolled, 8,000+ transactions have already earned cashbac and they included Flight Centre as a partner today.

• Raiz Invest reported Q4 FY24 results with revenue up 28.1% YOY to $5.5m and total FUM up 23.4% YOY to $1.4bn.

• Novatti Group (ASX: NOV) reported a 41% quarter-on-quarter improvement in net operating cash outflow to $2.5m, with quarterly revenue of $12.5m, up 23% year-on-year.

• Azupay ay and xetta have introduced #PayID for student fees and payments at The University of Newcastle, making it the first university to adopt this innovative technology.

• After c5 years of being on the ASX - Fintech Prospa delisted following implementation of a a scheme of arrangement to have all issued capital of PGL acquired by Salbridge Pty Ltd - an entity controlled by a consortium led by the Salter Brothers Tech Fund .

• Cashrewards , an investee company in the 1835i portfolio, has acquired Little Birdie , a shopping companion with world-leading technology. Little Birdie's platform uses advanced machine learning to help customers find products easily, track prices in real-time, and compare prices effortlessly.

• Slice has raised 17.5 M AUD in a combined equity and debt round - led by Peak XV Partners and Roadnight Capital .

• Co-operty has announced a strategic partnership with Effi Technologies (Effi) to help more people buy their own home using co-ownership.

Thanks to our partner Vanta for the support in assisting us with the newsletter:

For the web version of this newsletter go to:

https://www.sub11.com.au/posts/fintechfun-newsletter-122f82f2024

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