Australia’s fintech or financial technology sector has experienced significant growth in recent years. The market in Australia features a diverse range of startups entering many fintech subsectors across the country. Payments, wallets, and supply chain and lending are the most developed fintech subsectors in Australia. Australian Fintech grew from A$250 million in 2015 to A$4 billion in 2021. Australian Fintech recorded a A$2.5 billion investment in 2021. Considering this, we present to you the top 10 Australian fintech startups.
1. Athena –
Athena is an Australian home loan platform that helps to get better home loans.
- Funding Amount- USD 161. 5 million
- Founded Date Jun 2017
- Founders Michael Starkey, Nathan Walsh, Rex V. Jobe
- Based in – Sydney, Australia
Athena is on a mission to change home loans for good so that Aussies can rewrite their future stories. Athena is led by an executive team with deep experience in financial services and has a track record of delivering innovative customer solutions with outstanding customer experiences. The company’s big investment backers include giants such as AirTree Ventures, Apex Capital, AustralianSuper, Hostplus, Macquarie Bank, RESIMAC Group, Rice Warner, Square Peg and Sunsuper.
2. Alex Bank
Alex is 100% digital, built from the ground up by an energetic team of bankers, focused on customers’ needs, not ours.
- Funding Amount- USD 61.9 million
- Founded Date – Jul 2018
- Founders – Craig Fenwick, Simon Beitz
- Based in Queensland, Australia
Alex Bank has an energetic and experienced team working together to build the future of banking. The company focuses on faster, fairer and more flexible banking options for Australians.
3. Nimble
Nimble provides loans of $300 – $5,000 in minutes via a simple online/mobile application.
- Funding Amount- USD 38.3 million
- Founded Date – Nov 1, 2005
- Founders- Greg Ellis, Sean Teahan
- Based in – Southport, Australia
Nimble provides a fast solution to short-term financial hurdles. A Nimble loan is paid back over weeks rather than months or years. Their world-leading profiling technology allows customers to receive an instant decision upon completing an application.
4. Verteva
Verteva is a Fintech company that uses data and digital expertise to disrupt the mortgage process.
- Funding Amount- AUD 33 million
- Founded Date- 2019
- Founders – Andrew Walker, Chris Lumby
- Based in – Sydney, Australia
Verteva is a Fintech company offering a better digital home lending experience. The company is combining digital customer journeys with technology and data-driven insights. Verveta was founded in 2019 and is based in Sydney, New South Wales, Australia.
5. PictureWealth
PictureWealth is a technology company focused on improving the financial know-how of people across the planet.
- Funding Amount- AUD 28.3 million
- Founded Date – Mar 2017
- Founders- David Pettit, Marko Sekez, Neal Cross
- Based in – Perth, Australia
PictureWealth is a technology company focused on improving the financial know-how of people across the planet. PictureWealth Advisory runs a centralized advice model where experts collaborate to create the best advice outcome for their clients.
6. Pearler
Pearler is an Aussie startup that simplifies investing for financial independence.
- Funding Amount- USD 7.8 million
- Founded Date- 2018
- Founders- Hayden Smith
- Based in – Sydney, Australia
Pearler is an investing app designed to help users reach their financial goals within a supportive community. Its mission is to help everyday people become successful long-term investors. Moreover, the firm seeks to make investing rewarding, simple and even a little boring. It keeps building tools to help everyday people like you grow, not trade or gamble.
7. WeMoney
WeMoney is a personal finance management app that allows you to see all your finances in one place.
- Funding Amount – USD 6.3 million
- Founded Date- 2020
- Founders – Dan Jovevski
- Based in -New South Wales, Australia
WeMoney is focused on obtaining an Open Banking license so that the Fintech firm can access customer banking data, which may be used to improve the quality of services offered to them.
WeMoney’s platform lets users keep track of their pending utility bills and other recurring payments. The platform also aims to help customers manage their savings and monitor their monthly income.
8. Futurerent
Futurerent gives property investors their rent in advance — the simplest and fastest way to access up to $100,000.
- Funding Amount- USD 6.1 million
- Founded Date- 2019
- Founders- Godfrey Dinh
- Based in – New South Wales, Australia
Futurerent is a loan-free alternative to the banks that gives property investors up to $100,000 of their rent, paid in advance. Simple, fast & 100% built for property investors, which means no interest, no credit impact, and no hidden fees.
9. Asendium
Asendium is software as a service for financial planners to manage their businesses and increase their revenue through automation.
- Funding Amount- AUD 3.4 million
- Founded Date 2019
- Founders- Scott Miller, Sharon Lee, William Kim
- Based in – New South Wales, Australia
Asendium was created in 2019 by an ex-financial planning business to respond to the growing cost and lengthy time to create advice. Their mission is to streamline the financial advice creation process, allowing financial planning businesses to effectively serve more clients. With Asendium, the company removes the manual and repetitive nature of data entry, whilst still allowing users and their teams in control to personalize the advice produced.
10. Jaaims
Jaaims is the first fully automated trading app that analyses, predicts and makes calculated trades on the user’s behalf 24/7.
- Funding Amount- USD 475.1 K
- Founded Date – Jan 1, 2019
- Founders – Reza Owliaei, Tui Eruera
- Based in – Sydney, Australia
The Jaaims platform uses AI to analyze more than 250 different news, financial data and social media sources in real time, updating its stock recommendations every 15 minutes. The Australian-developed share trading platform aims to help SMSF investors navigate this environment through the power of artificial intelligence.
The startups have been ranked in accordance with the funds raised so far. They have come into existence after 2005.
To explore such startups, visit Zefyron Startup Database
For more extensive analysis and Market Intelligence reports, feel free to approach us.
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