Weekly Summary ending 22/10/23

Another massive week with M&A, milestones, international expansion, product releases and some main stream advertising... just another week in #fintech :)

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• WeMoney announced their 3rd birthday - and with that some milestones including that they have had over 500,000+ downloads.
• Melbourne based LAB Group has secured a $6.5m facility from GCI (Global Credit Investments) ?to support LAB Group to further strengthen and scale up its team, accelerate product development and fund exciting domestic and international growth opportunities.
• Cashrewards launched their new gift card offering , in partnership with EonX. This allows better value to members at a wider range of Australian and global brands.
• Loan comparison tool LoanOptions.ai announced that its platform will be launched in New Zealand.
• Revolut Australia has burst into the mainstream with their first Above The Line ad campaign. https://vimeo.com/876197147
• Westpac announced the launch of their Presto app on our Android EFTPOS Now terminals today. Developed in collaboration with mx51 the app allows retail and hospitality businesses to wirelessly connect their EFTPOS Now terminal with more than 100 point of sale systems.
• CommSec team released four episodes in our Stock'd Education hub to teach you everything you need to know about Exchange Traded Funds (ETFs), in partnership with ASX ?and Betashares .
• Beforepay announced they extended and expanded their receivables-financing facility to A$55m with a three-year term. This "sets us up for our next phase of growth, adding capacity to significantly increase our volume of advances" - according to Jamie Twiss the CEO.
• Australian Payments Plus announced the launch of ConnectID. Commonwealth Bank?and?NAB?customers around Australia can now verify their identity simply & securely with ConnectID at participating organisations.?
• InDebted announced the acquisition of reminda, a Sydney-based debt collection agency. "We see great potential to strengthen our Australian operations by integrating Reminda fully into InDebted,” said Josh Foreman, Founder and CEO.