{"id":41225,"date":"2023-10-20T15:12:29","date_gmt":"2023-10-20T15:12:29","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/australian-fintechs-scored-us600-million-in-new-deals-in-2016-despite-investment-plummeting-worldwide-report-startupsmart\/"},"modified":"2023-10-20T15:12:29","modified_gmt":"2023-10-20T15:12:29","slug":"australian-fintechs-scored-us600-million-in-new-deals-in-2016-despite-investment-plummeting-worldwide-report-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/australian-fintechs-scored-us600-million-in-new-deals-in-2016-despite-investment-plummeting-worldwide-report-startupsmart\/","title":{"rendered":"Australian fintechs scored $US600 million in new deals in 2016 despite investment plummeting worldwide: Report – StartupSmart"},"content":{"rendered":"
\"fintech<\/div>\n

Investment in Australia\u2019s fintech sector soared to more than $US600 million ($780 million) in 2016 up from just over $US50 million four years prior, a KPMG report reveals.<\/p>\n

According to KPMG International\u2019s The Pulse of Fintech<\/em> report, in 2015 $US185 million injected across 23 fintech investments in Australia and a year later, $US656 million was injected into 25 deals.<\/p>\n

Back in 2012, fintech investment in Australia totalled $US51 million, according to KPMG.<\/p>\n

Meanwhile, investment in fintech slid by nearly 50% around the world between 2015 and 2016. In 2015, total global investment in fintech ventures totalled $US46.7 million, but that figure dropped to $US24.7 billion in 2016.<\/p>\n

“Australia\u2019s performance was driven by some large deals, and specifically M&A [mergers and acquisitions] and private equity transactions,\u201d KMPG’s fintech practice global co-lead Ian Pollari said in a statement.<\/p>\n

\u201cWhile mega deals result in peaks and troughs in overall figures, the trend is clear and demonstrates increasing interest and investment activity in fintech.\u201d<\/p>\n

According to rising fintech star Prospa, which recently closed a $25 million investment round led by AirTree Ventures<\/a>, increased interest in Australian fintech companies comes with rising confidence among consumers to engage in new markets like online lending platforms.<\/p>\n

\u201cIt\u2019s a great story for Australian VCs, and really just cements the general market awareness of how Australia can build great tech companies,\u201d Prospa founder and chief Beau Bertoli told SmartCompany<\/a> <\/em>about the company’s latest capital raise.<\/p>\n

\u201cWe\u2019ve seen a massive shift in the past couple of years for acceptance of lending. When we started there wasn\u2019t a lot of awareness of options outside of the banks, we\u2019ve seen great feedback from customers.\u201d<\/p>\n

Victor Jiang, founder of Australian venture capital fund Sapien Ventures<\/a>, which targets Chinese investors, says opening up the door for overseas investors to participate in the local startup sector is also helping to strengthen the fintech market Down Under.<\/p>\n

\u201cRecent changes in policies such as the Significant Investor Visa (SIV) program has strongly catalysed foreign inbound capital into the much needed early-stage venture capital and entrepreneurial ecosystem,\u201d says Jiang.<\/p>\n

“There are more fintech investors coming onto the scene all the time. With US policy uncertainties and Brexit, the time is ripe for Australia to become a leading regional hub of fintech investment and excellence.”<\/p>\n

Follow StartupSmart on<\/em> Facebook,<\/em> Twitter, LinkedIn and iTunes.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Investment in Australia\u2019s fintech sector soared to more than $US600 million ($780 million) in 2016 up from just over $US50<\/p>\n","protected":false},"author":2,"featured_media":61001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/41225"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=41225"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/41225\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/61001"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=41225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=41225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=41225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}