Fintechfun Newsletter to 27/8/2024

Is there something in the water or just reporting season ? The news has been non stop this week - and it keeps coming... so a special mid week edition here:)

Thanks again to Outposter for their support.

• Bendigo and Adelaide Bank owned Up have announced the following They now have :920,000 customers , $2,100,000,000 in deposits , Digital deposit growth of 57 % and 1000 mortgages settled.

• Stripe held their Sydney Tour with special guests from Mint Payments Limited , Canva , Airtasker and MYOB

• Raiz Invest announced a new strategic relationship with State Street Global Advisors, including a $2 million share placement at $0.41 per share and a Share Purchase Plan to raise up to an additional $2 million.

• Tractor Ventures announced they have funded 200 companies with over $70m out the door to to help founders "turn their bold visions into reality, expanding their reach and making waves…"

• Amazon Web Services (AWS) For Startups has launched The FinTech Connect Program . It is designed to deliver on the number one request of AWS’ top FinTech startups and scale ups: accelerating their go-to-market initiatives to secure new FSI customers within Australia/New Zealand and overseas. EOI's are open https://pulse.aws/application/WSQNAOUE?ANZ=Z

• Startupbootcamp have opened their Sustainable fintech program - Are you an early-stage startup focused on innovating the sustainable fintech industry? Will your startup impact future global ESG considerations? Stepping into the Sustainable Fintech Program might just be the next step for you! EOI here: https://form.typeform.com/to/s54GLIfX

• humm group reported their financial performance for FY24, with total receivables up 18% to $5.0b and a statutory net profit of $7.1m, up 145%.

• Zeller launched Terminal 2, an all-in-one payments and point-of-sale solution designed and engineered in Australia, featuring a built-in POS app called Zeller POS Lite.

• Zip Co Limited reported financial results for FY24, with Group cash EBTDA up 243.2% to $69.0m and revenue increasing 28.2% to $868.0m.

• Identitii Limited has successfully defended against two challenges from JP Morgan Chase (JPMC) to the validity of its U.S. Patent No. 10,984,413, with the US Patent and Trademark Office (USPTO) rejecting JPMC's claims.

• Beforepay Group Limited achieved its first full-year profit with a net profit before tax of $3.9m and EBITDA of $8.5m for FY24. The company saw record Active Users (240,254) and increased new-user acquisition, with Net Transaction Margin expanding by 66% and net defaults improving to 1.4%. They also obtained a Credit Licence.

• Wander Insurance launched a unique travel insurance offering that rewards users for proactive safety measures like using luggage tracking technology. The company partners with Travello , a travel booking site, and AirBolt? , a smart travel lock and tracker provider, to offer innovative features such as bag tracking, document backup, and incentives for protective actions.

• Findi has secured an agreement with Central Bank of India to operate co-branded banking correspondent locations called 'BC Max' Centres, starting with 25 pilot sites.

• Selfwealth reported their financial results for FY24, with underlying EBITDA up 36% to $5.5 million and NPAT increasing significantly to $3.4 million.

• Moneycatcha , a Perth-based fintech company, has appointed Tim Alexander and Lawrie Tremaine as Non-Executive Directors to its board, strengthening its governance.

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