Fintechfun Newsletter to 28/10/2024

A jam packed edition this week or so - with product launches, people moves, quarterly results as well a book launch!

Thanks so much to Outposter for supporting this newsletter.

Sydney based Slyp launched Go Rewards . Go Rewards is their all-in-one loyalty solution empowers retailers, suppliers, and customers alike, with a loyalty program that is accessible for businesses of all sizes.

Tyro Payments sent a letter to shareholders entitled "Tyro welcomes card payment surcharging review" . Tyro said they have been actively engaged with the RBA and welcomes reviews that assess the true cost of card acceptance for small businesses and consumers.

The OFX VISA Business Debit Card is now functional. The card has multiple functions including Multi-currency, Company cards for online subscriptions and Employee cards with Apple Pay.

Harmoney released their 1Q25 update. Australian new customer loan originations grew more than 50% on the prior comparative period(“pcp”), driven by Stellare? 2.0. The company said they are on track for achieving 20% Cash Return on Equity run rate in H2FY25.

15 startups have been chosen for 2024 sustainable fintech accelerator: driving the future of finance , Supported by Startupbootcamp 's Sustainable Fintech Fund. They are: Ajé , Cxingularity AI : Embifi , Finite Pay , Insaaph Capital , Meta Carbon , Our Leg Up, PayToMe.co ,Retailloop, Scholar Saver , ShaBaas Pay, SNAPCASH, TygrX, VaulFi

AMP 's website says "We’re on a mission to build Australia’s leading digital bank" - and Sean O'Malley used the banks new debit card - launching in 2025 for the first time as a demo on LinkedIn .

Red Energy announced they became the first utility company to offer PayTo payment method. Red Energy has partnered with fintech Zepto .

Beforepay Group announced it is accelerating its growth, achieving its fifth consecutive profitable quarter and a cash profit of $2.5m in Q1 FY25. Record active users up 7% YoY to 251,325 . Net profit before tax (NPBT) of $1.7m (unaudited). Advances up 8% YoY to $191.0m. The shares are up more than 150% this year.

MONEYME executed a $517.5m auto asset-backed securities (ABS) deal - their first in this asset class and their largest yet. The company said the deal provides funding capacity to continue to grow their Autopay product.

Pascale Helyar-Moray OAM is launching her book RICH WOMAN, POOR WOMAN from tomorrow October 29 2024. According to Pascale Helyar-Moray “Australia’s superannuation system still favours the male population, but today it is possible for women to become financially secure in retirement in their own right. And that’s why I decided to write Rich Woman,Poor Woman, inspired by Kiyosaki’s bestselling book."

Credit Clear Limited (ASX:CCR) announced?record revenue of $11.96m for FY25 YTD, a 19% increase on the prior corresponding period. The company said they are on track to meet or exceed FY25 guidance,?exiting Q1?with a revenue run rate of ~$48m.

YBL.AI is conducting a webinar tomorrow entitled "Solving Financial Advisors' Time-Consuming Pain Points with YBL.AI Co-Pilot: Be The Human Not The Machine" - link to register. https://events.teams.microsoft.com/event/35c0bd46-c1a8-4d6e-af4f-b4f772b295ff@b5773858-4fb1-42a1-a427-4281f99343f4

Xero announced that Angad Soin will be Xero’s new Managing Director for Australia and New Zealand - Xero’s largest region.

Raiz Invest announced it's business update for Q1FY25. The company said they key highlights were Revenue growth of 15.2% YOY, 3,824 new Active Customers in Q1 and Total Active Customers of 310,600 at 30 September 2024, increasing to 314,127 at 25 October 2024.

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