Michael Fredericks - FuPay CEO

Startup Spotlight – FuPay

For individuals and businesses alike, traditional payment methods can be cumbersome and time-consuming. That’s where FuPay comes in. This revolutionary payment platform provides a seamless and efficient experience that addresses many of the challenges posed by traditional payment methods that can be slow, inconvenient, and often come with high transaction fees.

FuPay offers fast and secure transactions that can be completed with just a few taps on a smartphone. With millions of dollars in payments processed each day and top-notch security features, The platform utilizes cutting-edge technology to offer fast and secure transactions that can be completed with just a few taps on a smartphone. 

By streamlining the payment process and offering top-notch security features, FuPay aims to provide a solution that addresses many of the challenges posed by traditional payment methods. Whether you’re a business owner or a consumer, FuPay’s goal is to make financial transactions easier, faster, and more secure. Overall, FuPay is quickly becoming the go-to choice for businesses of all sizes.


Fupay operates in the highly competitive mobile payment and financial management industry, with several other players in the market. Here are some of Fupay’s main competitors:

  • AfterpayAn Australian buy now, pay later service that allows customers to pay for their purchases in four interest-free instalments.
  • Zip CoAnother Australian buy now, pay later service that offers interest-free payments and other financial services to customers.
  • KlarnaA Swedish fintech company that provides online payment solutions, including a buy now, pay later service.
  • VenmoA popular peer-to-peer payment app in the United States that allows users to send and receive money, split expenses, and make online purchases.
  • Square Cash: A mobile payment app in the US that allows users to send and receive money, make purchases, and manage their finances.
  • Revolut: A UK-based digital banking and payment platform that offers a range of financial services, including a mobile payment app.

These companies offer similar services to Fupay and are also focused on serving young people and millennials. However, Fupay differentiates itself from its competitors by providing a more comprehensive platform that combines payment and financial management features. Fupay also has a strong focus on financial education and empowering young people to take control of their finances.


Fupay has raised a total of AUD 23.5 million across multiple funding rounds to date. Here is a breakdown of the funding series of Fupay:

  • Series D funding – March 2022: Fupay raised AUD 4.5 million from unnamed investors
  • Series C funding – September 2021: Fupay raised AUD 2 million from unnamed individual investors
  • Series B funding – May 2021: Fupay raised AUD 12 million from  Australian financial services firm FlexiGroup, along with Reinventure, Apex Capital Partners, and Artesian
  • Series A funding – 2019: Fupay raised AUD 5 million from Westpac’s venture capital fund Reinventure and Atlassian co-founder Mike Cannon-Brookes both Australian companies.

Reinventure and Apex Capital Partners have participated in multiple funding rounds for Fupay. Both venture capital firms participated in Fupay’s Series D funding round, which raised $25 million, as well as in previous funding rounds. Additionally, Mike Cannon-Brookes, co-founder of Atlassian and a prominent tech investor, has invested in Fupay in multiple funding rounds.


Fupay has not made any major acquisitions to date. The company has primarily focused on developing and growing its core payment and financial management platform, as well as building partnerships with other companies in the fintech and financial services industries.

That being said, Fupay is still a relatively young company and may consider strategic acquisitions in the future as it continues to expand its reach and capabilities. 


Michael Fredericks is one of the co-founders of Fupay, a mobile payment and financial management platform for young people. He is also the CEO of the company. Fredericks is an experienced entrepreneur and business leader with a passion for fintech and financial inclusion.

Before founding Fupay, Fredericks worked at several companies involving disruptive technology, property and financial services. Onthehouse changed the property data landscape in Australia forever by empowering consumers with property insights, sales data and valuations for free and built a monthly audience of over 3.5M Australians.

Through his previous experience, he gained a deep understanding of the financial industry and saw firsthand the challenges that young people face when it comes to managing their finances.

Inspired by this experience, Fredericks decided to launch Fupay in 2017. The company’s mission is to provide young people with a platform that makes it easy to manage their finances, make payments, and achieve their financial goals.

Under Fredericks’ leadership, Fupay has grown rapidly and has received significant funding from top investors. 

Fredericks is known for his entrepreneurial spirit, his deep understanding of the fintech industry, and his commitment to social impact. He is passionate about using technology to improve financial inclusion and has spoken on this topic at numerous conferences and events.

Overall, Michael Fredericks is a highly accomplished entrepreneur and fintech leader who has played a critical role in the development and success of Fupay. His vision, passion, and commitment to innovation and social impact have helped Fupay become a leading player in the fintech industry.


Fupay has received funding from a range of investors, including venture capital firms, financial institutions, and individual investors. Here are some of the notable investors in Fupay:

Reinventure Capital: Westpac’s venture capital fund, has invested in several fintech startups in Australia.

Mike Cannon-Brookes: Co-founder of Atlassian and one of Australia’s most prominent tech investors.

Apex Capital PartnersAn Australian investment firm that focuses on early-stage technology companies.

Artesian (Alternative Investments)A global venture capital firm that has invested in a range of startups in Australia and around the world.

FlexiGroup Limited (FXL)An Australian financial services company that provides payment solutions and other financial services to customers.

Unnamed individual investors: Fupay has also received funding from individual investors who are interested in supporting the company’s growth and vision.

The support of these investors has enabled Fupay to raise significant capital to support its growth and expansion. Additionally, the expertise and networks of these investors have helped Fupay to develop its platform and reach a wider audience.


Fupay is a fintech company that provides a platform to manage all bank accounts and financial transactions in one place. Fupay stands out from other fintech companies because it allows users to connect multiple bank accounts from different banks. The platform uses artificial intelligence to provide personalized insights and recommendations to its users. It has a strong focus on security and privacy, using bank-level encryption to protect users’ financial information. Fupay promotes financial wellness by offering financial education content, budgeting tools, and personalized financial advice. 

It also encourages users to give back to the community by donating a portion of their cashback rewards to charity. Fupay has received significant funding from investors and has completed several acquisitions to expand its services. Overall, Fupay is a promising fintech company that empowers users to take control of their finances and achieve financial wellness.