Well 11% through the year already.. just like that! Reporting season about to get in to full swing too, here is the news for the week!
- Zip Co announced its second quarter results for the three-month period ended 31 December 2024 (“2Q25” Total Transaction Volume (“TTV”) of $3.4b, revenue of $269.4m and cash EBTDA of $35.3m
- Anson Parker is moving on from his role as Up’s Chief Product Officer to take some time off. Anson has been pivotal to the success of Up and has been on a number of podcasts with me – and I wish him well in the future and will be watching his next move!
- Independent contracting platform MyGigsters announced that the team has raised $1.1M from Angel investors and customers. This investment will focus on enabling gig platforms and operators to provide embedded financial services to gig workers.
- Paylab launched “Paylab Advance” to give Australians Early Access to their earned wages combining with shopping discounts. Paylab charges one small fee of 5% and enables offsetting of this fee through a range of immediate reward eGift cards from over 150 Retailers across the country and over 25,000 Cafe’s, Bars and Restaurant. https://www.paylab.com.au/newsandevents
- Beforepay Group surpassed $10m in quarterly revenue and achieved a net profit before tax (NPBT) of $1.1m and EBITDA of $2.4m – Q2 FY25 trading was in line with expectations and seasonal patterns with higher quarterly advances ($205.6m), partially offset by higher net defaults (1.75%).
- Identitii has renamed the Identitii platform BNDRY and launched a new website. They also $1.8M raised in well supported placement and announced they received their $0.5M annual licence fee received from Mastercard and $1.0M R&D tax incentive rebate issued by the ATO
- Personal Loan and financial wellness platform Wisr achieved a substantial 77% increase in loan originations to $93.5M despite a seasonally slower quarter . The Company has also returned to loan book growth following a period of moderated loan volume settings with the total loan book increasing in the quarter to $757M.
- The previous company payFURL has been rebranded to Xpanse – Xpanse is transforming payments with their universal gateway that connects them to multiple payment methods and service providers via one integration. This simplifies the payment process, reduces transaction failures, and optimises costs.
- Kashcade has launched a $50M capital raise to fund even more innovative Aussie companies in 2025. This raise will allow them to fund many more businesses under their R&D tax incentive loan offering, helping all kinds of tech companies access fast, non-dilutive funding to continue investing in innovation.
- Hnry which is a managed service for self-employed contractors and freelancers has officially expanded into the UK. The company based out of Wellington, has primarily served customers in Australia and New Zealand.
- The Raiz Invest share price continues to rise – now doubling since 14 November 2024.
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