Canva Acquires Leonardo.AI to Elevate Generative AI Capabilities and Compete with Industry Giants

Canva, the popular graphic design platform, has made a significant move in the realm of generative AI by acquiring Leonardo.AI, an Australian startup specializing in AI content and research. This acquisition is part of Canva’s strategy to expand its AI capabilities and create a comprehensive suite of visual AI tools. The financial details of the deal have not been disclosed, but it is expected to significantly enhance Canva’s offerings and competitiveness in the market.

Leonardo.AI, founded in 2022, has developed a range of innovative AI tools, including text-to-image and text-to-video generators. The startup’s technology and foundational model, known as Phoenix, will be integrated into Canva’s existing Magic Studio products, such as the Magic Media generator for images and videos. This integration is expected to accelerate the development of Canva’s AI capabilities, particularly in the areas of image and video generation.

Cameron Adams, co-founder and Chief Product Officer of Canva, emphasized that Leonardo.AI will continue to operate as an independent product, similar to the Affinity creative software suite that Canva acquired earlier this year. This approach allows Leonardo.AI to maintain its brand identity and focus on its existing user base, which includes millions of consumers and business customers.

The acquisition is seen as a major boost for Canva’s AI suite, which is already used by over 190 million users worldwide. Leonardo.AI’s technology will add a new layer of versatility to Canva’s existing tools, enabling it to better compete with industry giants like Adobe, Microsoft, and Google. The incorporation of Leonardo.AI’s AI art generator, AI video generator, and other tools will enhance Canva’s offerings, particularly in the enterprise space, where Leonardo.AI has already seen significant adoption.

One of the key aspects of this acquisition is the access to Leonardo.AI’s team of 120 researchers, engineers, and designers. This talent pool will be instrumental in further developing Canva’s AI capabilities and scaling the Leonardo.AI platform. The integration of Leonardo.AI’s technology into Canva’s Magic Studio products is expected to be swift, with a focus on enhancing the existing AI image and video generator, Magic Media.

In recent years, Canva has been expanding its platform to include additional office suite-like features, making it a significant rival to Adobe’s suite of creative software products. The acquisition of Leonardo.AI could serve as a strong counterpoint to Adobe’s Firefly AI, further solidifying Canva’s position in the market.

Overall, the acquisition of Leonardo.AI by Canva represents a significant milestone in the evolution of generative AI and its applications in the design and creative industries. It underscores Canva’s commitment to innovation and its ambition to create a comprehensive AI-driven design platform that can cater to the diverse needs of both consumers and businesses. As the field of AI continues to advance, this acquisition is likely to have far-reaching implications for the future of design and visual communication.

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Consider Soft Skills Equally

Why You Should Consider Soft Skills Equally as Technical Skills When Hiring

The recruitment industry has seen a significant transformation in recent years, with a shift towards data-driven hiring processes. According to LinkedIn’s latest report, companies that leverage data in their hiring decisions reduce their time-to-hire by up to 30% and improve their quality of hire by 45%. Embracing analytics can help you predict candidate success more accurately and streamline your recruitment process.

## CHALLENGES AND SOLUTIONS

Hiring managers face numerous challenges, from attracting the right candidates to efficiently managing the recruitment process. Here are some proven strategies to overcome these hurdles:

– ✅ **Enhance Your Employer Brand**: Strong employer branding increases application rates by up to 50%. Ensure your company culture and values are well communicated in your job postings and social media platforms.
– ✅ **Utilize Advanced Screening Tools**: Implementing AI-driven tools for resume screening can reduce the shortlisting time by up to 75%, allowing you to focus on engaging with top candidates.
– ✅ **Focus on Candidate Experience**: A positive interview experience can increase the acceptance rate by 38%. Streamline communication and keep candidates informed at every stage of the hiring process.
– ✅ **Consider Soft Skills Equally**: While technical skills are crucial, soft skills like communication, teamwork, and adaptability are equally important. Incorporating behavioral assessments into your hiring process can lead to a 20% decrease in turnover.
– ✅ **Develop a Structured Interview Process**: Standardized interviews increase the reliability of your hiring decisions by 43%. Prepare a set of core questions that reflect the skills and values important to your role and company.
– ✅ **Leverage Employee Referrals**: Referrals can speed up the hiring process by 55%. Encourage your employees to refer qualified candidates by offering incentives and recognition.

## CONCLUSION

Incorporating these strategies into your recruitment process can significantly enhance your hiring efficiency and effectiveness. By focusing on both the technological and human aspects of recruitment, you can build a team that drives your company forward.

# HiringExcellence #RecruitmentStrategies

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Athena Home Loans

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

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.

  • 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.

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Airwallex

Airwallex – Raised AUD 450m in a Series D funding round led by Fidelity and valued at over USD 2.6bn.

Airwallex is a global financial technology (fintech) company that provides cross-border payment solutions for businesses. The company was founded in 2015 by Jack Zhang and Max Li, and is headquartered in Hong Kong, with offices in various locations worldwide.

Airwallex offers a comprehensive suite of products and services designed to simplify and streamline cross-border payments for businesses. This includes its core offering, a digital payment platform that enables businesses to send and receive payments in multiple currencies, manage their foreign exchange (FX) exposure, and access a wide range of banking and financial services.

The company’s platform is built on proprietary technology that leverages artificial intelligence (AI) and machine learning algorithms to optimize FX rates, reduce transaction costs, and improve payment efficiency. Airwallex also provides businesses with tools for managing global banking and payment workflows, including virtual accounts, payment APIs, and other developer-friendly solutions.

Airwallex has gained significant recognition in the fintech industry, and has secured funding from prominent investors, including Sequoia Capital, Tencent, and DST Global. The company has also formed strategic partnerships with major financial institutions, payment networks, and technology companies to expand its reach and capabilities.

As of 2023, Airwallex serves thousands of businesses across a wide range of industries, including e-commerce, SaaS, travel, and more. The company continues to innovate and grow, with a focus on providing innovative and reliable cross-border payment solutions for businesses globally.

Competitors

The competitors of Airwallex offer services in international money transfers, currency exchange, and payment processing, driving innovation and competition in the evolving fintech industry.

Wise: A global peer-to-peer money transfer service that offers low-cost international transfers and multi-currency accounts.

Revolut: A financial technology company that provides mobile banking services, including international money transfers, currency exchange, and multi-currency accounts.

Stripe: An online payment processing platform that allows businesses to accept and manage payments from customers worldwide, including international transactions.

TransferGo: A digital remittance company that offers fast, low-cost international money transfers for individuals and businesses.

Payoneer: A global payment platform that provides cross-border payment solutions for businesses, including international money transfers, virtual bank accounts, and payment processing services.

WorldFirst: A global currency exchange and international money transfer provider for individuals and businesses, offering competitive exchange rates and personalized service.

OFX (formerly OzForex): An online foreign exchange and international payment service that provides competitive exchange rates and tailored solutions for businesses and individuals.

Western Union: A well-known global money transfer service that offers international remittance options for individuals and businesses.

Xendpay: An online money transfer service that allows individuals and businesses to send money internationally at competitive exchange rates with low fees.

Funding

Airwallex has successfully raised significant funding through various funding rounds, securing investments from prominent venture capital firms and strategic partners. 

In this section, we will provide an overview of Airwallex’s funding rounds, including the dates, funding amounts, key investors, and the intended use of funds for each round, showcasing the company’s success in securing capital to support its growth.

  • Series E funding round (October 10, 2022) – Airwallex raised AUD 100 million to support its global expansion plans and invest in product development.
  • Series E funding round (November 17, 2021) – Airwallex secured AUD 100 million led by Lone Pine Capital, with plans to further scale its global payments infrastructure and expand its product offerings.
  • Series E funding round (September 20, 2021) – Airwallex raised AUD 200 million with Lone Pine Capital as a key investor, with a focus on accelerating its growth in key markets, investing in technology innovation, and expanding its team.
  • Series D funding round (March 24, 2021) – Airwallex secured AUD 100 million from Greenoaks and Fidelity, with plans to expand its global presence, enhance its product offerings, and invest in talent and technology.
  • Series D funding round (September 29, 2020) – Airwallex raised AUD 40 million with Skip Capital as a key investor, to support its global expansion and invest in its core payments infrastructure.
  • Series D funding round (April 16, 2020) – Airwallex secured AUD 160 million from Salesforce Ventures, with plans to further invest in its global expansion, product development, and customer acquisition.
  • Series C funding round (March 26, 2019) – Airwallex raised AUD 100 million with DST Global as a significant investor, with a focus on expanding its global presence and investing in technology and talent.
  • Series B funding round (July 3, 2018) – Airwallex secured AUD 80 million with Sequoia Capital China and Tencent as key investors, to support its international expansion, accelerate product development, and enhance its customer offerings.
  • Series A funding round (December 14, 2017) – Airwallex raised AUD 6 million with Square Peg Capital as a significant investor, with plans to further develop its cross-border payment technology and expand its market reach.
  • Series A funding round (May 1, 2017) – Airwallex secured AUD 4 million, with a focus on product development and expanding its customer base.

Founder

Airwallex was founded in 2015 by a group of visionary entrepreneurs who recognized the need for a modern, efficient, and cost-effective solution for cross-border payments and currency management. The founding team of Airwallex consists of Jack Zhang, Max Li, Xijing Dai, and Lucy Liu, each bringing their unique expertise and experience to the company.

Jack Zhang, the CEO of Airwallex, has a strong background in finance and technology. Before founding Airwallex, he founded Capital 49, where he experienced first-hand the challenges and inefficiencies of cross-border payments. His deep understanding of the financial industry and his innovative mindset have been instrumental in shaping Airwallex’s strategic direction and driving its growth.

Max Li, the Head of Design at Airwallex, brings extensive experience in product strategy and user experience design to the company. He has been responsible for driving the development of Airwallex’s user-centric products and solutions, ensuring that they meet the evolving needs of businesses and individuals in the global market.

Xijing Dai, the CTO of Airwallex, is a technology expert with a background in software development and business analysis. He has been instrumental in building Airwallex’s cutting-edge technology infrastructure, including its proprietary payment routing and foreign exchange engines, which enable efficient and secure cross-border transactions.

Lucy Liu, the President of Airwallex, has a wealth of experience in finance and worked as a financial consultant for China’s first joint venture investment bank. She has been responsible for driving the development of Airwallex’s user-centric products and solutions, ensuring that they meet the evolving needs of businesses and individuals in the global market.

Together, the founding team of Airwallex has brought a diverse set of skills, expertise, and industry knowledge to create a company that has disrupted the traditional financial industry by providing innovative and customer-centric solutions for cross-border payments and currency management. Their leadership and vision have been instrumental in positioning Airwallex as a leading fintech company, trusted by businesses and individuals around the world.

Investors

Airwallex, a global financial technology company, has successfully raised a total of $247 million in funding from various investors in multiple funding rounds.

Sequoia Capital: Invested an undisclosed amount in Series A in 2016. Sequoia Capital is a leading venture capital firm known for backing technology companies globally.

Tencent: Invested $25 million in Series B in 2017. Tencent is a Chinese multinational conglomerate with investments in various technology sectors, including e-commerce, gaming, and social media.

DST Global: Invested $6 million in Series B in 2017. DST Global is a global investment firm focused on late-stage venture capital and private equity investments in technology companies.

Horizons Ventures: Invested $6 million in Series B in 2017. Horizons Ventures is a venture capital firm with a strategic focus on disruptive and technology-driven companies across various industries.

Square Peg Venture Capital Ltd. : Invested $6 million in Series B in 2017. Square Peg Capital is a venture capital firm specializing in early-stage investments in technology companies in the Asia-Pacific region.

Gobi Partners: Invested $12.8 million in Series C in 2018. Gobi Partners is a venture capital firm that invests in early-stage and growth-stage technology companies in China and Southeast Asia.

  • ANZi Ventures: Invested $10 million in Series C in 2018. ANZi Ventures is a venture capital firm affiliated with ANZ Bank, focused on investing in fintech and other disruptive technologies.

Salesforce Ventures: Invested $20 million in Series C in 2018. Salesforce Ventures is the strategic investment arm of Salesforce, a leading customer relationship management (CRM) platform, investing in innovative enterprise software companies.

  • DST Global (China): Invested $100 million in Series D in 2019. DST Global (China) is the China-focused arm of DST Global, known for its investments in high-growth technology companies globally.
  • 3WVC: Invested $10 million in Series D in 2019. 3WVC is a venture capital firm that invests in early-stage technology companies, with a focus on the Asia-Pacific region.

Insights

Airwallex is a global financial technology company that offers cross-border payment solutions and business banking services to empower businesses to transact, manage, and grow their finances on a global scale. The company was founded in 2015 by a team of financial industry veterans and has since grown rapidly, securing significant funding from prominent investors. Airwallex provides innovative payment solutions, including multi-currency wallets, virtual and physical cards, and international money transfers, to help businesses streamline their cross-border transactions, reduce costs, and improve operational efficiency. With a strong focus on technology, compliance, and customer experience, Airwallex has gained traction in the global fintech landscape and has established a presence in multiple markets worldwide.

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Payright

Payright – Raised AUD 12m in a Series B funding round led by Escala Partners and investors including Adcock Private Equity and Alceon.

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.

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Slyp Founder - Paul Weingarth

Slyp Raises AUD 13.5 Million to Revolutionize Digital Receipts and Loyalty Programs

Slyp is a digital receipt and loyalty platform based in Australia. It allows customers to receive digital receipts and store them in a central location, making it easy to keep track of purchases and returns. Additionally, Slyp offers a loyalty program that allows customers to earn rewards and discounts based on their spending habits.

Slyp integrates with a retailer’s point-of-sale system, which automatically sends digital receipts to customers through their mobile banking app. Customers can then view and manage their receipts, as well as track their loyalty rewards and receive personalized offers.

One of the key benefits of Slyp is its focus on privacy and security. It uses advanced encryption and authentication methods to ensure that customer data is protected, and customers can control their data and decide whether to share it with retailers or other third parties.

Overall, Slyp offers a convenient and secure way for customers to manage their receipts and loyalty rewards, while also providing valuable insights and analytics for retailers.

Competitors

There are several competitors of Slyp in the digital receipt and loyalty space. Here are a few examples:

BPAY Pty Ltd: A bill payment service that also offers digital receipts and loyalty programs for participating merchants.

Azupay Pty Ltd: A digital payment platform that offers customers the ability to pay for purchases and receive digital receipts, as well as earn rewards and access personalized offers.

The System Works Group (TSWG): A technology solutions provider that offers digital receipt and loyalty programs for retailers, as well as other customer engagement tools.

Sandstone Technology: A digital banking and payments technology provider that offers digital receipt and loyalty solutions for financial institutions and retailers.

Ultradata Australia Pty Ltd: A software development company that offers digital receipt and loyalty solutions for financial institutions and retailers.

Funding

Slyp has raised a total of AUD 13.5 million in funding across multiple funding rounds. This includes:

  1. Series B funding – 2020, Slyp raised AUD 7.5 million from Westpac’s Reinventure Group, Scentre Group, and NAB with participation from ANZ.
  2. Series A funding – 2019, Slyp raised AUD 4 million from ANZi Ventures.
  3. Seed funding – In 2017, Slyp raised AUD 2 million from NAB Ventures

While Slyp’s investors have played a significant role in the company’s growth and development, National Australia Bank (NAB) has been a particularly strong supporter and investor in Slyp. NAB Ventures, the venture capital arm of NAB, led Slyp’s seed funding round in 2017, and then NAB itself led the Series B funding round in 2020. In total, NAB has invested AUD 10.5 million in Slyp across multiple funding rounds.

Other notable investors in Slyp include ANZi Ventures (ANZ Bank’s venture capital arm), Reinventure Group (backed by Westpac Banking Corporation), and Scentre Group (owner of Westfield shopping centers). These investors have helped to bring significant funding, expertise, and strategic partnerships to Slyp, and have supported the company’s growth and expansion within the retail and payments industry.

Founder

Paul Weingarth is a tech entrepreneur based in Sydney, Australia, who co-founded Slyp, a fintech startup that has revolutionized how retailers issue digital receipts and offer loyalty programs to their customers. He is a graduate of the University of New South Wales, where he studied Economics and received an Honours degree.

Before founding Slyp, Weingarth has previously worked at companies such as PayPal and Microsoft, where he gained valuable experience in software development and product management. With his experience in the tech industry and passion for innovation, Weingarth has played an instrumental role in the development and growth of Slyp’s platform for digital receipts and automated loyalty programs.

Weingarth is known for his entrepreneurial spirit and his commitment to innovation. He has received numerous accolades for his work, including being named a finalist for the Australian Young Entrepreneur Awards and being recognized by the Australian Financial Review as one of Australia’s 100 most innovative companies.

Through his work with Slyp, Weingarth has shown a dedication to improving the retail experience for both customers and retailers. He continues to drive innovation in the fintech space, and his work is shaping the way consumers and businesses interact with each other.

Investors

Slyp 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 Slyp:

NAB Ventures: Is a Venture capital arm of National Australia Bank and has invested in several other fintech startups, such as BrickX and Medipass

ANZ Bank: One of the largest banks in Australia and New Zealand and has invested in other fintech startups, such as Data Republic and Edrolo

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

Scentre Group: Owner and operator of Westfield shopping centers in Australia and New Zealand. Invests in startups that are focused on innovation and improving the retail experience for customers.

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

Insights

Slyp’s platform allows customers to receive digital receipts directly from their banking app, eliminating the need for paper receipts and making it easier to track spending. Slyp also enables retailers to offer personalised loyalty programs based on customers’ purchase history, making it easier to retain customers and encourage repeat business.

Slyp’s success in attracting investment and partnerships is a testament to the company’s innovative approach to improving the retail experience. Slyp is part of a growing trend in fintech startups that are using technology to simplify and enhance the way customers interact with financial services and retailers. By continuing to innovate and partner with key players in the industry, Slyp is well-positioned to continue its growth and disruption of the traditional receipt and loyalty program market.

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Michael Fredericks - FuPay CEO

Big Investments in Micro-Lending for Millennials and Zoomers.

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.

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Frollo Founder - Gareth Gumbley and team members

Fintech Startup “Frollo”​ Launches Net Worth Tracker With Funding From Metlife to Help Low To Mid-Income Australians Improve Their Financial Wellbeing

Frollo is a FinTech startup with a mission to help people feel good about money. Founded in 2015, the company offers open banking solutions, a consumer app, and a SaaS Integration Platform to a range of financial institutions, including neobanks, traditional banks, fintech, lenders, and employers.

At its core, Frollo is dedicated to improving financial wellness and providing a more personalised and streamlined customer experience. Their Open Banking platform allows businesses to collect financial information in a fast and secure way, while their AI engine turns raw transaction data into insights that can help customers improve their finances.

In addition to its B2B offerings, Frollo also has a free app for consumers that allows them to track their spending and improve their finances. The app provides users with a clear overview of their finances, including budgeting tools, personalised insights, and alerts for upcoming bills.

One of the key milestones for Frollo was becoming the first FinTech in Australia to go live with Open Banking in July 2020. Since then, the company has continued to grow and expand its offerings, working with banks, lenders, and brokers to deliver better customer outcomes.

Frollo’s commitment to improving financial well-being has been recognized with several awards, including the 2021 Finder Award for Best Personal Finance App and the 2021 Finder Award for Best Budgeting App.

With its focus on using technology to improve financial wellness and customer experience, Frollo is poised to continue making a significant impact in the FinTech industry.

Competitors

Frollo’s competitors include Meniga, Open Bank Project, Bud, Trustly Group, GoCardless, and Fabrick.

Meniga offers white-label PFM and online banking solutions for retail banks, which helps banks use personal finance data to enrich their online and mobile customer experiences. They have expanded their offerings to include data-driven card-linked offers and other user-centric services designed to make online and mobile banking more engaging and useful.

Open Bank Project offers an open-source API and management platform for the banking industry, enabling banks and third-party developers to more rapidly and cost-effectively deliver tailored applications and services to their customers.

Bud provides a technology platform that aggregates financial services and products into a single marketplace. They offer an API that powers developers of financial services applications and helps them connect with user bank accounts.

Trustly Group is an online payments services provider that offers instant pay-ins and pay-outs, based on online banking e-payments. Their real-time processing, bookkeeping, and account reconciliation functionalities make payments quick, convenient, and safe.

GoCardless is an online direct debit provider that operates an international payments network for businesses to take and settle recurring payments from anywhere, to anywhere, in any currency.

Fabrick is an open financial ecosystem that enables and fosters collaboration between players to discover, create, and innovate solutions for end-users.

Overall, Frollo’s focus on financial wellness and providing personalised and streamlined customer experience differentiates them from its competitors, who offer a range of services such as PFM solutions, APIs, and online payments. Frollo’s use of Open Banking and AI to improve customer outcomes and help people feel good about money sets them apart in the FinTech industry.

Funding

Frollo has raised a total of $65,000 in funding over one round. The company’s funding was raised in a grant round on September 19, 2018, from MetLife. The grant was awarded to Frollo as part of MetLife’s Inclusion Plus competition for its gamified personal finance solution.

Prior to this grant round, the company had been funded by the founders, family, and friends. Frollo’s founder and chief Gareth Gumbley told StartupSmart that the grant was “quite humbling” and would help in the company’s B2B sales. The funding would be used for more consumer research, insights, design, improving customer experience, and taking the design process up to the next level.

Frollo is focused on cracking the Australian market before expanding to other markets. The startup has been successful in growing through word-of-mouth and selling software licences. A capital raise is on the horizon for Frollo to expand into additional markets.

Funding has been relatively minimal for Frollo, as the company’s focus has been on growth through sales and partnerships with financial institutions. The grant from MetLife has validated the startup’s mission and financial wellness app.

Acquisitions

Frollo has made one acquisition to date. In September 2019, the company acquired Hip Money, a Sydney-based fintech startup focused on helping young Australians improve their financial well-being. Hip Money’s personal finance app, which is no longer available, enabled users to track their spending, create budgets, and set savings goals. The acquisition was part of Frollo’s broader strategy to expand its customer base and enhance its suite of financial wellness solutions.

The financial terms of the deal were not disclosed. However, Frollo founder and CEO Gareth Gumbley commented on the acquisition, stating, “We’re delighted to bring the Hip Money team on board. They share our vision for using technology to empower consumers to make smarter financial decisions, and we believe their expertise in data-driven financial solutions will be a great asset to Frollo as we continue to grow and innovate in the financial wellness space.” The Hip Money team joined Frollo as part of the acquisition.

Founder

Gareth Gumbley is the founder and CEO of Frollo, a fintech company based in North Sydney, Australia. He has a background in consumer finance and has observed how many low to mid-income customers take on loans when they don’t necessarily need them. Seeing this problem, Gumbley was inspired to create a financial wellness app that can help users identify and change bad spending habits through gamified features. He coined it as a “Fitbit for finance” and aims to apply the same models used for health and fitness to financial well-being.

Gumbley is passionate about helping people improve their lives through increased financial well-being. He sees reducing the levels of financial stress users are under as a way to lead to better overall health. He is dedicated to providing actionable insights, gamification, and community building to Frollo’s customers, whether they are individuals or small businesses.

With his leadership, Frollo has won multiple awards for its innovative solutions, including the MetLife Financial Inclusion Award for being the best financial solution for low- to moderate-income Australians. Gumbley’s vision for Frollo includes expanding its services beyond Australia, although the company is prioritising the Aussie market for now.

Investors

Frollo has only one known investor, which is MetLife, a provider of insurance, employee benefits, and financial services. MetLife funded Frollo’s only funding round, a grant round that raised $65,000 on September 19, 2018. The grant was awarded to Frollo by the MetLife Foundation, which named Frollo the best financial solution for low-to-moderate-income Australians at its Inclusion Plus competition.

Frollo’s partnership with MetLife has been instrumental in the company’s growth and success. The financial backing of MetLife has enabled Frollo to focus on improving its technology, expanding its product offerings, and scaling its operations. Additionally, Frollo has leveraged MetLife’s extensive network and resources to reach a wider audience and collaborate with other industry players.

Overall, Frollo’s partnership with MetLife has been mutually beneficial. Frollo has been able to build a product that meets the needs of underserved Australians, while MetLife has been able to support a company that aligns with its commitment to financial inclusion and innovation.

Insights

Frollo is a fintech company that provides financial management solutions through its software platform, catering to neobanks, traditional banks, fintech, lenders, and employers. The company is on a mission to help people feel good about money by using open banking data and AI to provide actionable insights and gamification that encourages healthy financial habits.

One of the key insights provided by Frollo is the importance of financial well-being for overall health and happiness. The company recognizes that financial stress is a leading cause of anxiety and mental health issues, and seeks to address this by giving users more control over their finances and reducing the noise and confusion surrounding money management.

Frollo’s platform allows users to set financial goals, track their spending, and receive personalised insights and recommendations to help them make better financial decisions. The platform also helps financial institutions and lenders innovate and quickly bring new features to market through an API-enabled platform that leverages open banking data.

Overall, Frollo’s insights highlight the growing importance of financial management and the need for innovative solutions that use technology and data to make it easier and more accessible for individuals and businesses alike. By providing personalised and actionable insights, Frollo is helping to promote financial well-being and reduce financial stress for its users.

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James Spenceley, left, sits on the share register of fintech start-up Beforepay, co-founded by Tarek Ayoub, right.

Beforepay Raises Over $10 Million in Funding to Revolutionise Early Access to Earned Wages

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.

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Shadi Haddad, CEO of Till Payments

From Fintech Startup to Payment Powerhouse: Till Payments Raises $142.2M in Total Funding Over 4 Rounds!

Till Payments is a rapidly-growing Australian fintech startup that specialises in providing payment solutions to businesses of all sizes. Founded in 2012 by Shadi Haddad, Till Payments has quickly become a player in the Australian payments market, and is poised for further expansion both domestically and abroad.

They offer a range of payment options, including in-store, online, and mobile payments, and their platform is designed to integrate seamlessly with a wide range of business software and tools. They also offer a range of value-added services, including fraud prevention and chargeback protection, which help to further enhance the security and reliability of their payment solutions.

The company has seen significant growth since its founding, and has already established a strong presence in the Australian payments market. In addition to serving businesses of all sizes within Australia, Till Payments has also expanded into the New Zealand market, and has plans to continue expanding its international presence in the coming years.

Overall, Till Payments is a company that is well-positioned for continued growth and success in the years ahead. With its commitment to innovation, customer service, and personalised payment solutions, Till Payments is poised to become a major player in the global payments market.

Competitors

There are a number of other Fintech startups that are focused specifically on providing payment solutions to businesses. Some of the notable players in this space include:

Pin Payments: Pin Payments is a Melbourne-based startup that provides a range of payment solutions to businesses. Their platform is designed to be easy to use and integrate with a wide range of business software and tools.

Zai: Zai is a payments company that provides a range of payment solutions to businesses, including online payments, marketplace payments, and invoicing solutions. Their platform is designed to be flexible and scalable, making it suitable for businesses of all sizes.

PayDock: Paydock is a payments platform that allows businesses to manage multiple payment gateways through a single API. This can help businesses to simplify their payment processing and reduce costs.

While each of these companies offers slightly different payment solutions and services compared to Till Payments, they are all competitors in the broader Australian payments market. As the payments space continues to evolve and mature, it will be interesting to see how these companies and others continue to compete and differentiate themselves from one another.

Funding

Till Payments has successfully raised $142.2M in total funding over 4 rounds. Their latest funding round was a Series D, raising A$70M from Silva Fortune. The funding rounds are listed below:

  • Series D – March 7, 2023: Till Payments raised A$70M from Silva Fortune.
  • Series C – November 5, 2021: Till Payments raised A$15M, with no lead investor announced.
  • Series C – September 30, 2021: Till Payments raised A$110M with participation from four investors.
  • Series A – March 4, 2019: Till Payments raised $5M from Versatile Group.

Till Payments has received funding from 7 investors to date, with Silva Fortune and Touch Ventures being the most recent ones. Two lead investors have also been involved. The investors who participated in the most funding rounds are:

  • Silva Fortune: Lead investor in the Series D funding round.
  • Versatile Group: Lead investor in the Series A funding round.

Acquisitions

Till Payments has made 1 acquisition, with Ziosk Integrated Payment Services being acquired on January 27, 2022. The details of the acquisition are:

  • Acquiree Name: Ziosk Integrated Payment Services
  • Announced Date: January 27, 2022
  • Price: Not disclosed
  • Transaction Name: Ziosk Integrated Payment Services acquired by Till Payments.

Here are some examples of larger fintech startups in the payments space and their funding history:

Square: Square, a payments and financial services company, has raised over $601.2 million in funding across multiple rounds since its founding in 2009. The company went public in 2015 and has since expanded its offerings to include point-of-sale hardware and software, peer-to-peer payments, and other financial services.

Stripe: Stripe, a payments infrastructure company, has raised over $2.2 billion in funding across multiple rounds since its founding in 2010. The company’s platform enables businesses to accept and manage payments online and provides a range of tools for managing their financial operations.

Adyen: Adyen, a payments platform, has raised over $266 million in funding across multiple rounds since its founding in 2006. The company’s platform provides businesses with a range of payment solutions, including in-store, online, and mobile payments, as well as fraud detection and prevention tools.

Compared to these examples, Till Payments’ funding rounds are relatively modest in size. However, Till Payments is a relatively young company that has achieved significant growth and market traction in a short period of time. 

Founder

Shadi Haddad is the founder and Chief Executive Officer (CEO) of Till Payments, a technology company focused on developing and delivering innovative payment solutions to businesses. With over a decade of experience in the technology and payments sector, Haddad is a seasoned entrepreneur and executive with a proven track record in business development, strategy, and execution.

Haddad’s background in start-up operations spans developed and emerging markets, making him a versatile and adaptive leader. He is also a strategic technology and policy advisor, with a strong background in blockchain technology.

In addition to his work at Till Payments, Haddad is a fellow of Blockchain Australia, an industry body representing blockchain technology in Australia, and he is passionate about the potential of blockchain to drive innovation and transformation across industries.

Haddad holds a Computer Science degree from Macquarie University and a certificate in Oxford Blockchain Strategy from the Saïd Business School, University of Oxford. He is a proud husband and father of three children.

Till Payments’ team also includes a number of other experienced payments and fintech professionals, including developers, product managers, and customer support staff. According to their LinkedIn page, the company has around 70 employees as of March 2023, and is headquartered in Sydney, Australia.

Investors

Till Payments has secured funding from a variety of investors, including venture capital firms, private equity firms, banks, and other strategic investors. Here is a list of some of Till Payments’ key investors and the companies they represent:

  • Silva Fortune: Silva Fortune is a private investment firm founded in 2006 that invests in a variety of sectors, including technology, healthcare, and real estate. Based in Sydney, Australia, the firm aims to partner with visionary entrepreneurs and management teams to help build sustainable and successful businesses.
  • Touch Ventures: Touch Ventures is a venture capital firm that invests in early-stage startups in Australia and Southeast Asia. Founded in 2017, the firm focuses on companies that are leveraging technology to create innovative solutions in areas such as fintech, healthtech, and edtech. Touch Ventures aims to provide more than just capital, offering support and guidance to help startups succeed.
  • Woodson Capital Management: WOODSON CAPITAL MANAGEMENT LP Management is a New York-based investment firm that specialises in credit and event-driven opportunities. Founded in 2011, the firm’s investment strategies include distressed debt, special situations, and merger arbitrage. Woodson Capital Management aims to provide superior risk-adjusted returns for its investors.
  • Avenir Growth Capital: Avenir Growth Capital is a private equity firm that invests in high-growth, healthcare technology companies. Based in Greenwich, Connecticut, the firm partners with companies that are leveraging technology to improve patient outcomes and reduce healthcare costs. Avenir Growth Capital aims to provide capital and operational expertise to help its portfolio companies achieve their full potential.
  • Akuna Capital: Akuna Capital is a proprietary trading firm that specialises in options market making and quantitative trading. Founded in 2011, the firm has offices in Chicago, Shanghai, and Sydney. Akuna Capital’s trading strategies use advanced technology and sophisticated algorithms to analyse and trade on global financial markets.
  • Regal Funds Management: Regal Funds Management is a Sydney-based investment management firm that specialises in alternative investments. Founded in 2004, the firm’s investment strategies include long/short equity, event-driven, and credit. Regal Funds Management aims to provide superior returns to its investors while managing risk through a disciplined investment approach.
  • Versatile Group: VERSATILE GROUP is a private investment firm that focuses on early-stage startups in Australia and Southeast Asia. Founded in 2010, the firm’s investment areas include technology, consumer products, and healthcare. Versatile Group aims to partner with entrepreneurs and management teams to help build successful and sustainable businesses.

Insights

Till Payments’ success can be attributed to several key insights that the founders had when they launched the company. Firstly, they recognized that traditional payment systems were often slow, costly, and cumbersome for businesses to use. They saw an opportunity to create a payment platform that was fast, secure, and affordable for businesses of all sizes.

Secondly, Till Payments’ founders saw the potential for mobile technology to transform the payments landscape. They realised that businesses and consumers were increasingly using mobile devices to make payments, and that there was a need for a payment platform that was optimised for mobile use.

Thirdly, Till Payments recognized the importance of collaboration and partnerships in the payments industry. They have formed strategic partnerships with banks, payment networks, and other fintech startups to create a robust ecosystem of payment solutions that can meet the needs of a wide range of businesses.

Finally, Till Payments’ success can be attributed to its customer-centric approach. The company has invested heavily in customer support and user experience, and is committed to providing a seamless and hassle-free payments experience for its customers.

These insights have enabled Till Payments to grow rapidly and establish itself as a leading player in the Australian payments industry. The company is now poised for further expansion, as it continues to innovate and develop new payment solutions for businesses across Australia and beyond.

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