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Athena Home Loans – Raised AUD 70m in a Series C funding round led by Square Peg Capital

Athena Home Loans is a digital home loan lender that operates in Australia. It was founded in 2017 with the mission of helping homeowners pay off their mortgages faster and with less stress. Athena Home Loans offers refinancing options to existing homeowners, with a focus on providing competitive interest rates, flexible loan terms, and personalized customer service.

Athena Home Loans distinguishes itself in the market by leveraging technology to simplify the mortgage process and provide a seamless, user-friendly experience for borrowers. The company utilizes advanced algorithms and data analytics to assess the risk profile of borrowers and offer personalized loan solutions. Athena Home Loans also emphasizes transparency and fair lending practices, striving to provide borrowers with clear and easy-to-understand information about their loan terms and options.

One of the key values of Athena Home Loans is its commitment to helping borrowers pay off their mortgages faster. The company encourages borrowers to make additional repayments and provides tools and resources to help them manage their loans and reduce their interest costs. Athena Home Loans also offers a unique “Reward Me” program, where borrowers can earn cashback rewards for making additional repayments on their loans.

Overall, Athena Home Loans aims to provide a modern, customer-centric approach to home lending, leveraging technology and innovation to make the mortgage process more transparent, efficient, and empowering for borrowers.

Competitors

As a digital home loan lender, Athena Home Loans operates in a competitive landscape. Some of its competitors in the Australian mortgage market include:

Traditional Banks: Traditional banks such as Commonwealth Bank of Australia, Westpac Banking Corporation, Australia and New Zealand Banking Group Limited (ANZ), and National Australia Bank Limited (NAB) are among the main competitors of Athena Home Loans. These banks have well-established brand recognition, wide customer base, and offer a range of mortgage products and services.

Non-Bank Lenders: Non-bank lenders such as Pepper Money, Liberty Financial, and Resimac are also competitors of Athena Home Loans. These lenders typically specialize in offering home loans to borrowers who may not meet the strict criteria of traditional banks, providing alternative lending options and flexibility in loan terms.

Online Mortgage Lenders: Online mortgage lenders like Tic:Toc, loans.com.au, and Homestar Finance are direct competitors of Athena Home Loans in the digital home loan space. These lenders operate entirely online, leveraging technology to provide fast, streamlined, and convenient mortgage application processes, similar to Athena Home Loans’ digital approach.

FinTech Lenders: Emerging FinTech lenders such as HashChing, Lendi, and uno Home Loans are also competitors of Athena Home Loans. These FinTech companies utilize innovative technologies and online platforms to provide competitive mortgage rates, personalized loan options, and digital tools to assist borrowers in managing their loans.

Credit Unions and Building Societies: Credit unions and building societies, such as CUA, Newcastle Permanent Building Society, and Heritage Bank, also compete with Athena Home Loans. These member-owned financial institutions often offer community-focused lending options, and personalized customer service to their members.

It’s worth noting that the competitive landscape of the mortgage market can change over time, and there may be other lenders or new entrants that could potentially compete with Athena Home Loans in the future. Borrowers are encouraged to research and compare different lenders to find the best mortgage solution that fits their needs and financial situation.

Funding

Athena Home Loans has raised a total of $249.2 million AUD across all funding rounds.

• Series B funding round – $26.4 million AUD was raised on November 26, 2018, with investors including Square Peg Capital, Hostplus, and one more investor.

• Series C funding round – $70.6 million AUD was raised on October 21, 2019, with investors including Salesforce Ventures, AustralianSuper, Square Peg Capital, Hostplus, AirTree, and three more investors.

• Series D funding round – $126.2 million AUD was raised on May 11, 2021, with investors including Square Peg Capital, AirTree, Salesforce Ventures, Hostplus, AustralianSuper, Morgan Stanley, Fidelity International, and one more investor.

Athena Home Loans, an Australian fintech company that offers online mortgage lending services, has successfully raised a total of $200 million across five funding rounds, including Series A, Series B, Series C, and Series D rounds. The most recent funding round was a Series D round on May 11, 2021, where Athena Home Loans raised $90 million. The company has secured investments from reputable investors such as Square Peg Capital, AirTree, Salesforce Ventures, Hostplus, AustralianSuper, Morgan Stanley, and Fidelity International, among others. 

Founders

Athena Home Loans was co-founded by Nathan Walsh and Michael Starkey. Nathan Walsh is the CEO of Athena Home Loans and has a background in finance and technology. Michael Starkey is the Chief Operating Officer (COO) of Athena Home Loans and brings extensive experience in financial services and technology to the company.

Nathan Walsh, as the CEO of Athena Home Loans, has been instrumental in leading the company and driving its mission to revolutionize the home loan industry in Australia. Michael Starkey, as the COO, has played a key role in overseeing the operations and strategic initiatives of the company. 

Together, Nathan Walsh and Michael Starkey, along with their team, have developed Athena Home Loans as a fintech company that offers innovative and customer-centric home loan solutions.

Investors

Athena Home Loans has raised a total of $249.2 million AUD in funding from various venture capital firms.

• Square Peg Venture Capital Ltd. : A venture capital firm based in Sydney, Australia that invests in technology-focused companies.

• AirTree Ventures: A venture capital firm based in Sydney, Australia that invests in technology startups, including those in the financial services sector.

• Hostplus: An Australian superannuation fund based in Melbourne, Australia that has reportedly invested in Athena Home Loans.

• AustralianSuper: An Australian superannuation fund based in Melbourne, Australia that has reportedly invested in Athena Home Loans.

• NAB Ventures: The venture capital arm of National Australia Bank (NAB), one of the major banks in Australia, based in Melbourne, Australia, which has reportedly invested in Athena Home Loans.

• Salesforce Ventures: The venture capital arm of Salesforce, a leading cloud-based customer relationship management (CRM) platform, based in San Francisco, California, USA, which has reportedly invested in Athena Home Loans.

These investors from Sydney, Melbourne, and San Francisco have shown support for Athena Home Loans, recognizing the potential of their technology-driven approach to the home loan industry in Australia.

These investors enabled Athena Home Loans to expand its operations, enhance its technology-driven mortgage lending platform, and disrupt the traditional mortgage market in Australia. Athena Home Loans’ funding history reflects investor confidence in the company’s innovative approach to home lending and its potential for growth in the fintech industry.

Insights

Athena Home Loans has gained attention and investment from prominent investors in the financial and technology sectors, indicating their confidence in the company’s disruptive approach to the home loan industry in Australia. By leveraging technology and data-driven processes, Athena Home Loans aims to simplify the mortgage experience for borrowers and offer competitive rates. Their focus on customer-centric solutions, including their unique Athena Reunion Home Loan product, which rewards loyalty and encourages borrowers to pay off their loans faster, sets them apart in the market. 

Athena Home Loans’ commitment to transparency, customer empowerment, and addressing the pain points of traditional mortgage lending has garnered attention and support from both borrowers and investors alike. With their innovative approach and strong backing from investors, Athena Home Loans has the potential to bring significant positive change to the home loan landscape in Australia.

Payright is a leading buy now, pay later payment solution provider based in Australia. The company offers customers a flexible payment option for purchases, allowing them to pay for goods and services over time, without incurring high-interest charges. Payright partners with a wide range of businesses, from small retailers to large enterprises, to provide customers with a convenient payment option that makes purchases more accessible.

Payright offers a simple, user-friendly payment process that can be completed online or in-store. Customers can easily manage their payments through a mobile app, and have the option to tailor their payment plans to suit their budget and needs. This provides customers with greater control and flexibility over their finances.

Its innovative payment solution is designed to benefit both businesses and customers. Businesses that partner with Payright can increase their sales, improve cash flow, and reduce the risk of bad debt. Customers benefit from the ability to spread the cost of their purchases over time, without having to pay high-interest rates or incur credit card debt.

In summary, Payright is a leading buy now, pay later payment solution provider that offers a flexible payment option for purchases. By partnering with businesses of all sizes, Payright provides customers with a convenient payment option that makes purchases more accessible. Join Payright today and experience the future of payment solutions.

Competitors

There are several competitors of Payright which is a buy now, pay later payment solution provider. Here are a few examples:

Sunbit: Sunbit is a US-based point-of-sale financing provider that offers financing solutions for customers of various businesses. The company provides a simple application process and fast approvals, allowing customers to make purchases and pay them off over time.

Scalapay: Scalapay is a European-based buy now, pay later payment solution provider that allows customers to split the cost of purchases over time. The company partners with various businesses across Europe and provides a simple, user-friendly payment process.

Klarna: As mentioned earlier, Klarna is a Swedish-based buy now, pay later payment solution provider that operates in Europe and the US. The company offers customers a range of payment options, including pay later and installment plans.

Zilch: Zilch is a UK-based buy now, pay later payment solution provider that allows customers to spread the cost of purchases over time. The company partners with various businesses and provides a mobile app for managing payments and tracking spending.

Divido: Divido is a UK-based point-of-sale financing provider that offers financing solutions for various businesses. The company provides a simple, fast application process and partners with businesses across various industries.

in3: in3 is a UK-based buy now, pay later payment solution provider that allows customers to pay for purchases in three equal installments. The company partners with various businesses and provides a simple, user-friendly payment process.

Afterpay: As mentioned earlier, Afterpay is an Australian-based buy now, pay later payment solution provider that allows customers to make purchases and pay them off in installments without incurring interest fees.

Funding

Payright has raised a total of $116 million in funding to date which includes the following:

Debt Funding – March 2021, Payright secured a $55 million debt funding facility from a consortium of global investors, including Victory Park Capital, Kingfisher Capital, and Regal Funds Management.

Series B – October 2020, raised AUD 12 million to support Payright’s growth and expansion plans, including expanding into new industries and markets, developing new technology solutions, and increasing its workforce. Escala Partners, an Australian investment firm specializing in private wealth management and advisory services, participated in the funding round along with Alceon Group and Adcock Private Equity. 

Debt Funding – March 2019, Payright secured a $20 million debt funding facility from a corporate advisory firm, Thorney Investment Group.

Series A – August 2018, Payright raised $12 million in a series A funding round led by Escala Partners, with participation from Regal Funds Management.

Seed Round – October 2016, Payright raised $2 million in seed funding from investors including Allectus Capital, and Regal Funds Management.

Founder

Myles Redward is the visionary entrepreneur and founder of Payright. With over a decade of experience in finance and business development, Myles identified a gap in the market for flexible payment solutions that would benefit both consumers and businesses. He believed that there had to be a better way for customers to finance their purchases without having to resort to high-interest credit cards or loans.

In 2016, Myles co-founded Payright with his business partner Piers Redward. Together, they set out to create a payment platform that would offer customers affordable, transparent, and convenient payment plans. Payright’s buy now, pay later solutions enable customers to spread the cost of their purchases over time, with no hidden fees or charges. This not only benefits consumers but also helps businesses increase sales and customer loyalty.

Under Myles’s leadership, Payright has grown rapidly and has become one of the leading providers of buy now, pay later solutions in Australia. The company has received over $116 million in funding, which has enabled it to expand its customer base across various industries, including retail, healthcare, home improvement, and automotive.

Myles’s passion for innovation and customer-centric solutions has been instrumental in driving Payright’s success. He has built a team of dedicated professionals who share his vision and are committed to providing the best payment solutions for customers and businesses alike. With Myles at the helm, Payright is poised for even greater success in the years to come.”

Investors

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

Escala Partners: An independent financial advisory firm based in Melbourne, Australia that provides strategic advice and capital-raising services to high-growth companies.

Alceon Group: Australian investment firm located in Sydney with a focus on retail, property, and hospitality sectors

Adcock Private Equity: Australian investment firm which is headquartered in Sydney has a focus on growth-oriented businesses

Regal Funds Management: An Australian-based investment manager located in Sydney, Australia that specializes in identifying and investing in companies with high growth potential.

Apex Capital Partners: A corporate advisory firm located in Sydney, Australia that provides capital raising, mergers and acquisitions, and strategic consulting services to clients in various industries.

Thorney Investment Group: A diversified investment firm located in Melbourne, Australia that invests in a wide range of asset classes, including equities, fixed income, property, and private equity.

Victory Park Capital Advisors: An investment firm located in Chicago, USA that specializes in providing debt and equity capital to companies in the financial services and technology sectors.

Kingfisher Capital: A private investment firm located in Sydney, Australia that focuses on growth-stage companies in the fintech, healthcare, and energy sectors.

Insights

Payright is an Australian fintech company that provides a “buy now, pay later” solution for businesses and consumers. The company was founded in 2016 and has since experienced rapid growth, expanding its services across various industries including home improvement, automotive, healthcare, and more.

Payright enables consumers to make purchases with a flexible payment plan, allowing them to pay for their purchases in installments over time, rather than upfront in full. The company also provides businesses with a streamlined payment solution, offering a user-friendly platform that integrates with their existing systems.

One of the unique features of Payright is its focus on providing finance solutions for higher-ticket items, which sets it apart from other “buy now, pay later” providers that primarily cater to smaller purchases. This makes Payright a popular choice for customers looking to finance larger purchases such as home renovations, dental procedures, and automotive repairs.

Payright has raised millions of dollars in funding from various investors and has received several accolades for its innovative services, including being named a finalist in the Fintech Business Awards in 2018 and 2019.

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.

Competitors

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:

• Afterpay: An Australian buy now, pay later service that allows customers to pay for their purchases in four interest-free instalments.

• Zip Co: Another Australian buy now, pay later service that offers interest-free payments and other financial services to customers.

• Klarna: A Swedish fintech company that provides online payment solutions, including a buy now, pay later service.

• Venmo: A 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.

Funding

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.

Acquisitions

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. 

Founder

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.

Investors

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 Partners: An 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.

Insights

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.

In personal finance, keeping track of bills, expenses, and payments can be a real headache. With so many financial responsibilities to manage, it’s easy to become overwhelmed and fall behind on payments. This is where Beforepay comes in – a revolutionary new app that aims to simplify and streamline how we manage our finances.

Beforepay is an innovative new financial app that provides users with a convenient way to access their earned income in advance, allowing them to better manage their financial obligations. With Beforepay, eligible customers can advance (or ‘Cash Out’) up to $2000 for a fixed 5% transaction fee.

Beforepay charges a single, fixed transaction fee of 5% on each advance. The fee model is deliberately simple, transparent and inexpensive to give customers total control.

Beforepay does not charge any interest, late fees or other ongoing costs, unlike

traditional lending products. So, on a Cash Out of $300, the transaction fee would be $15, and the total repayment would only ever be $315 – never more.

The app works by connecting to a user’s bank account and tracking their income and expenses in real time. Once a user’s income is deposited into their account, Beforepay automatically calculates how much they are eligible to borrow and makes the funds available for withdrawal. The app charges a small fee for this service, but it’s a small price to pay for the peace of mind that comes with having access to your earnings when you need them.

Beforepay is not just a cash advance app, it’s a financial wellness platform designed to help users achieve financial stability and freedom. The app provides users with tools to help them better manage their money, including a budgeting tool that tracks expenses and helps users stay on top of their bills.

Another unique feature of Beforepay is its flexible repayments feature. This feature allows users to pay their bills on time and avoid late fees by splitting their bills into smaller, more manageable payments. Users can set up automatic payments for their bills, and the app will ensure that payments are made on time and in full.

Beforepay is a game-changer in the world of personal finance. It provides users with a convenient and easy-to-use platform for managing their finances, making it easier to stay on top of bills and avoid late fees. It’s also a great tool for those who may be living paycheck to paycheck, as it provides a safety net for unexpected expenses or emergencies.

Competitors

While Beforepay is a unique and innovative financial app, it’s not the only player in the game. There are several competitors in the space, each offering similar services to help users manage their finances. Here are a few of the top competitors to Beforepay:

EarnIn: Like Beforepay, Earnin allows users to access their earned income in advance. The app charges no fees or interest, but users can choose to leave a tip to support the service.

Dave: Dave is another app that offers cash advances to users, as well as budgeting tools and a fee-free checking account. Unlike Beforepay, Dave charges a $1 monthly membership fee.

Branch: Branch is a financial app that provides users with access to earned wages, as well as a fee-free checking account and budgeting tools. The app charges a small fee for cash advances.

MoneyLion: MoneyLion is a comprehensive financial platform that offers a range of services, including access to earned wages, personal loans, and credit monitoring. The app charges a monthly membership fee for its services.

While each of these apps offers similar services to Beforepay, it’s important to consider the unique features and pricing structures of each platform to determine which one is right for you. Ultimately, the choice will depend on your individual financial needs and preferences.

Funding

Beforepay, in just a few short years, has already raised over $30 million in funding from reputable venture capital firms.

Beforepay has more than 750,000 registered users as of December 2022

• Beforepay (ASX: B4P) raised AUD $35 million in its initial public offering (IPO) in January 2022. This funding will be used to continue the company’s growth and expansion, as well as to develop new features and services for its users.
• Series A Round – Beforepay (formerly known as Cheq) raised $9 million in a Series A funding round in September 2020. The funding was led by Tidal Ventures, with participation from Reinventure, Apex Capital Partners, and existing investors.
• Pre-Series A Round – The company’s Pre-Series A funding round was announced in September 2020 and raised AUD 9 million (approximately USD 6.5 million). The funding round was led by Alium Capital Management, with participation from a number of other investors, including AirTree Ventures, Reinventure Group, and the former CEO of ANZ Banking Group, Mike Smith. 
• Seed Round – it was led by Reinventure Group in 2019. It has been reported that Beforepay raised a total of AUD 1.6 million ($1.2 million USD) in its seed funding round from a group of investors, which included Reinventure Group and Artesian Venture Partners.

Overall, Beforepay has raised over $30 million in funding to date from top venture capital firms. These funds have allowed the company to continue developing its platform and expand its services to help even more people achieve financial stability and freedom.

Founder

Tarek Ayoub is a financial technology entrepreneur with a background in finance and technology. Before launching Beforepay, he had previously worked at PwC Australia. This is where he gained experience in building and scaling technology platforms.

Ayoub founded Beforepay in 2019 with the mission of helping people achieve greater financial stability and freedom. He saw an opportunity to use technology to provide an alternative to traditional payday loans and help people access their earned income when they need it most.

Under Ayoub’s leadership, Beforepay has grown rapidly and received funding from top venture capital firms. The company has also been recognized for its innovative approach to personal finance and has won several awards.

Ayoub is a graduate of the University of California, Berkeley, where he earned a Bachelor of Arts in Economics. He also holds an MBA from the Stanford Graduate School of Business.

Ayoub’s background in finance and technology, coupled with his entrepreneurial drive, has made him a respected leader in the financial tech space. With his vision and leadership, Beforepay is poised to continue its growth and help even more people achieve financial stability and freedom.

Investors

Beforepay has raised over $30 million in funding from top venture capital firms.

ALIUM Capital Management: In August 2021, Alium Capital Management led an AUD 9 million ($6.6 million USD) funding round for Beforepay.

AirTree Ventures: In May 2020, Beforepay raised AUD 9 million ($6.6 million USD) in a funding round led by AirTree Ventures.

Reinventure Group: Beforepay’s initial seed funding round was led by Reinventure Group in 2019, although the specific investment amount is unknown.

APEX Capital Partners: In December 2020, Apex Capital Partners invested AUD 4 million ($2.9 million USD) in Beforepay.

Artesian (Alternative Investments) Venture Partners: In October 2019, Beforepay received AUD 125,000 ($92,000 USD) in seed funding from Artesian Venture Partners.

Beforepay’s investors bring not only financial support but also valuable expertise and connections in the financial tech industry. With the support of these top investors, Beforepay is well-positioned to continue its growth and become a major player in the space.

Insights

Beforepay is a fintech company that provides users with early access to their earned wages before payday. The company’s mission is to help people achieve greater financial stability and freedom by providing an alternative to traditional payday loans.

One of the things that stands out about Beforepay is its focus on user experience. The company has developed a simple and user-friendly mobile app that allows users to easily access their earned wages and manage their finances. The app includes features such as real-time transaction tracking and budgeting tools, which can help users stay on top of their finances and avoid costly fees and penalties.

Another notable aspect of Beforepay is its rapid growth and success in securing funding from top venture capital firms. The company has raised over $30 million in funding to date, which has allowed it to continue developing its platform and expand its services to help even more people.

Overall, Beforepay seems to be a promising fintech company that is addressing an important need in the market. With its focus on user experience and innovative approach to personal finance, the company is well-positioned to continue its growth and make a positive impact in the industry.

Refundid is an Australian-based fintech solution that provides immediate refunds on eCommerce purchases. The firm is headquartered in Sydney, New South Wales. The company’s main goal is to protect and change how customers transact online. Refundid removes the conventional two to three week wait by refunding the customers before shipping the goods back. They also protect the retailers by giving them ample time to get and inspect the returned items. 

Refundid has revolutionised customers’ loyalty and confidence driving an increase in retailers’ performance. As the provider of instant refund solutions, customers can choose their desired feature when returning the goods to the online retailer and get back their funds in real time. Refundid is the merchant provider for the likes of Shopify. They’re in charge of declining, accepting, pending, and archiving returns processed by the platform externally. 

Refundid was established in 2020 and launched in 2021 by co-founders Ilan Kessler, Judd Katz, Joel Aaron, and Brad Karney to cut customers’ waiting time. The company acts as the middleman between the retailer and the customer. They pay the customer and take the payment later after it has been approved by the retailer. The platform is 100% free to use. The Aussie fintech presently uses 65 active technologies for its platforms. Some of them include SPF, iPhone/Mobile Compatible, and Viewport Meta. Refundid is used by 80 retailers, including Adore Beauty, Sass & Bide, Culture Kings, and Showpo. 

Investments 

Refundid has raised $15 million in 2 funding rounds and is funded by seven investors. The most recent one was on the 18th of July, 2022.

• Seed Round (July 18, 2022) – $12 million raised by 2 investors. Salesforce was the lead investor.
• Seed Round (September 2, 2021) – A$3 million raised in equity and debt funding by 2 investors. The funding round was led by Afterpay-backed AP Ventures. 

Investor profile

Salesforce Ventures

Salesforce Ventures was established in 2009 as a corporate venture branch of California-based Salesforce.com. The venture capital company invests in the next generation of technology and cloud-based firms. Salesforce Ventures assists enterprising founders in creating companies that change how the world operates. They have partnered and invested in over 400 most revolutionising software companies, ranging from seed to IPO. Some of the enterprising companies that they have invested in include Snowflake, Airtable, Hopin, Snyk, Tanium, Zoom, Databricks, Stripe, and nCino. Refunded is one of the latest additions to their investment portfolio. Salesforce Ventures led the funding round that raised a total of $12 million for Refundid, a local tech start-up in 2022.

Touch Ventures

Founded in 2019, Touch Ventures is an Australian leading investment holding firm that focuses on scalable investment opportunities and high growth with a proven revenue model. They also provide high growth and capital to enterprising companies that are focused on afterpay’s experience, customers, and merchants. Their areas of interest include consumer, finance, retail innovation, and data with a preference for globally expansive businesses. Touch Ventures has made eight investments, one of them was the funding round organised by the Aussie fintech Refundid in 2022. Touch Ventures has also invested in the likes of Her Black Book, CredShare, Preezie, Till Payments, Postpay, and Sendle. 

AP Ventures

Headquartered in London, AP Ventures provides capital funds for technological companies that address global issues. They invest mostly in hydrogen production, transportation, storage, and its application to provide solutions to structural constraints. Their partners have been creating high-growth technology companies since 2014 across the hydrogen value chain. In 2021, Refundid raised $3 million in a funding round led by Afterpay-backed venture capital fund AP ventures, which is also backed by retail veteran Paul Greenberg.  

Shearwater Capital

Shearwater Capital was established in 2018 as a growth firm that invests in growth-stage companies. The capital venture company is located in New South Wales. Shearwater is interested in SaaS and b2b payment sectors. The company has made a total of eight investments. Its last one came up on the 16th of November, 2022 when $2.5 million was raised by ClearCalcs. The company is passionate about New Zealand and Australian technology businesses. Some of the companies in their portfolio include Playground, Audience Republic, Refundid, Diffuse Energy, Sitemate, Fuel50, Amber, Lyka, Zero Co, and Buildxact. 

Achievements

• Refundid bagged two nominations at the 2022 NORA Awards in the Best Tech Startup, and Best Returns Solutions categories. 
• Refundid has revolutionised eCommerce returns where online shoppers get instant refunds. It is opposed to the long wait associated with the traditional way of shopping online. 

Board of directors

The Australian company Refundid has five people on its executive team. 

• Brad Karney is a co-founder and the Chief Executive Officer at Refundid. 
• Judd Katz is the co-founder and Chief Operating Officer at Refundid.
• Illan Kessler is the co-founder and Chief Technology Officer at Refundid.
• Joel Aaron is the co-founder and Chief Product Officer at Refundid.
• Paul Greenberg is an angel investor. He is the founder and Executive Chairman of the National Online Retailers Association (NORA). Paul is also one of the founders of Auctionbrokers.com.au and Deals Direct. At Refundid, he acts as the advisor.