Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Fintech space set to grow in 2019

technology technology
Adrian Flores 4 minute read

The Australian fintech industry is due for strong growth over the next year, with platforms as one of the most active areas for financing, according to a law firm.

According to DLA Piper’s analysis of 70 venture deals it has advised on in Australia for the 2018 calendar year, fintech is the most funded category of start-up companies.

Forty-one per cent of those deals involved funding into fintech companies.

The law firm said the most active areas for fintech financing are payments, platforms improving use of data including through open banking, anything that is neo-banking related, and alternative lending and mortgage platforms.

Advertisement
Advertisement

DLA Piper partner Joel Cox sees strong growth ahead for the local fintech sector.

“The considerable early stage venture funding over the past five years in fintech in Australia is creating a large number of fintech companies growing revenue at greater than 100 per cent year-on-year,” Mr Cox said.

“They are attracting strong interest from US, UK and Chinese venture capital funds. These funds recognise a growing maturity in our local fintech market and also see Australia as an ideal sandbox for fintechs. A range of our clients are getting four or five term sheets from potential investors.”

[Related: Australia signs international fintech agreements]

Fintech space set to grow in 2019
technology
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

PROMOTED CONTENT


technology

 

more from the adviser
digital technology user OnDeck launches ‘lightning’ SME loans

Fintech lender OnDeck Australia has rolled out a new finance offe...

sleeping bag Finance industry CEOs to take part in Vinnies CEO Sleepout

Several CEOs and directors in the mortgage and finance industry w...

meeting top view ta 62c1 Business credit defaults up by 9%

CreditorWatch has suggested that Australia’s economic recovery ...