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5 Australian FinTech startups you should know

By Isabela Vital, Aug 18th 2020


Have you heard of “FinTech” recently? What about making a payment through an app in a matter of seconds or even an entrepreneur needing some help with his/her small business? You can align the power of Technology, and how it simplifies more complex tasks within Finance, and this is where the magic happens. Both industries have been working together, and the companies listed below just prove they are a perfect match:

1. Afterpay

Afterpay is not only a startup keeping in constant growth but they are also part of the ASX (Australian Securities Exchange). This company, which increased its income by 86% from 2018 to 2019* is an instalment payment service that allows shoppers to purchase products as well as pay every fortnight in a total of 4 equal payments. There is no extra fee from customers when using this online platform in case they pay on time. So, how do they have been growing this much? Merchants need to pay a fee in order to offer Afterpay service to customers. The Australian company also reached the US, the UK as well as the New Zealand market.

Online Payment

*Source: FY 2019 Afterpay Touch Annual Report

2. Prospa

This multi-award-winning FinTech startup has the vision of changing the way small business owners experience finance. By a smart proprietary technology platform along with a simple online application, small businesses can access finance much faster together with an accessible way. They have helped almost 30.000 small businesses with funds to seize opportunities or to support cash flow*.


3. Spaceship

Spaceship is a good option in case you are getting to know about investment and is looking for an app that does everything for you. They were founded in 2016 and the following year, started with the Super Fund before launching Spaceship Voyager.

In a few steps and not necessarily lots of money, it is possible to start passively investing in their diversified portfolio composed of companies such as Tesla, Facebook, Alibaba and Apple. There are no fees on the first $5,000 invested*. You can also refer it to a friend, and then both will get $5.



4. Society One Personal Loans

Have you ever used an online dating app? SocietyOne's idea is very similar. They are a peer-to-peer platform that finds investors who are willing to get good returns, and then, through SocietyOne, there is a match from investors' funds with good quality borrowers looking for better and fairer deals*. According to their platform, interest rates are based on a tiered scale, which means the better the client's credit profile, the lower rate he/she will receive.


5. Valiant Finance

This is an award-winning FinTech startup that helps Australian small business compare as well as apply for loans from over 70 of Australia's leading lenders*. The company's technology allows business owners to research for products among over 100 lenders and get matched to the ones that have the highest chance of being funded by. So, if you own a small business, but is not sure which loan would be the best option, this could be a good one.



There are many other Australian FinTechs startups helping businesses and being a lifesaver for customers.

Do you want to start working in the industry, but first need to learn more about it? Start downloading our FREE course booklet and join us with our new IMC Micro Credential courses specialising in FinTech and related fields!

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