Interviews and Reviews

10 Most Popular Fintech Companies Australia

According to Frost & Sullivan’s study, fintech in Australia– Trends, Forecasts and Analysis 2015 – 2020, the Australian fintech sector will grow at a compound annual growth rate of 76.36% and reach approximately A$4.2 billion (US$3.2 billion) by 2020; of which US$0.76 billion will be new added value to the economy of Australia. In 2015, the total market size of the fintech sector in Australia was estimated at A$247.2m (US$187.9m). Frost & Sullivan forecasts that there will be a sharp growth in the Fintech market in Australia. Here are the 10 most popular companies that are shaping fintech trend in Australia:

1) Stockspot

Founded by Chris Brycki in 2014, Stockspot is an online fund manager and investment advisor based in Sydney, Australia. The platform offers users with low-cost access to professional investment services   The company slices investment fee and gets rid of human conflicts of interest in wealth management. Last year, the company raised $1.25 million.

2) SelfWealth

Based in Surrey Hills in Melbourne, SelfWealth offers two products, SelfWealth TRADING and SelfWealth INTELLIGENCE. SelfWealth TRADING helps investors to trade shares at a competitive price while SelfWealth INTELLIGENCE offers a suite of tools to assist investors to reach their target portfolio. Over the past four years, the company has raised $8.4 million in capital.

3) VisualRisk

VisualRisk was founded 15 years ago by Paul Nailand and Richard Hughes. It is a consulting company and a Treasury Management software provider that is headquartered in Sydney, Australia. The company offers treasury and risk management software and focuses on market risk management. The company won the best Risk Management Solution in the Treasury Management International’s 2015 awards in 2015.

4) SocietyOne

SocietyOne is a peer-to-peer financing platform that connects borrowers with investors in a secure environment and provides you a loan based on your credit history. It enables investors to lend to qualified borrowers directly.

5) MoneyPlace

Founded in 2015 by Stuart Stoyan, MoneyPlace is an online marketplace that uses peer to peer lending technology to connect burrowers with investors. The company helps borrowers create a better financial future and provides investors with better methods to manage their money.

6) Moula

Founded three year ago, Moula is an online platform that provides small business loans. Its average loan size is about $40, 0000, a relatively small level that is costly for the banks to service. The company lends to most types of business in Australia, including retailers, franchises, wholesalers, beauty services and professional services.

7) Prospa

Founded in 2012 by Beau Bertoli and Greg Moshal, Prospa gives unsecured business loans to small businesses. Using a simple online application process and a smart proprietary technology platform, Prospa provides small business owners an easy and fast way to access finance. The company has already helped thousands of Australian small businesses.

8) MoneyBrilliant

MoneyBrilliant is a budget management platform that allows customers improve financial literacy and manage money. Founded by Peter Lord in 2011, the company aims to help people navigate their way through real financial concerns.

9) Pin Payments

Pin Payments has software that allows small businesses to receive credit card payments using tablets or phones. The company has features that business needs to develop– like support for card payments and multi-currency.

10) Coinjar

Coinjar is a bitcoin exchange platform that allows customers to buy, sell and spend bitcoin. In 2015, the company registered 20,000 new users.  This year the company has facilitated about $30 million in transactions.

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