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WEEK STARTING SEPTEMBER 2


AUSTRALIAN FINTECH AND STARTUPS

Zip Co continues their acquisition spree, acquiring 'Spotcap', a company that provides small business financing

Square launched a new payment terminal in Australia. Square is like the Apple of payments hardware, and people are happy to cop the extra cost of the terminal for the swanky look and feel (and, of course, their value added services e.g. dashboard)

ACCC is cracking down on the potential misuse of Australian loyalty data by loyalty providers, such as Qantas & Flybuys

Results: LinkedIn's 25 top startups to work at in Australia

BIG TECH

Stripe has broken into cashflow lending, launching Stripe Capital in the US. Eligibility is based off of a merchant's time spent with Stripe, as opposed to following a separate application process. There's a heap more interesting perks / caveats, especially on how to loan is structured (it is a fixed fee, dynamic loan term). The better a business performs, the quicker they can repay the loan, and the effective APR becomes higher. Stripe justifies this by claiming they are wearing the risk of the business underperforming, in return for getting paid back quicker. Interestingly, this doesn't face the same regulation as traditional credit in the US. Really good thread on the product here, including a response from Stripe's CEO   

Facebook is rolling out the removal of 'Like' counts

During Hurrican Dorian, Airbnb launched 'Open Homes' offering free housing for displaced people and relief workers

POTPOURRI


Human speech may have a universal transmission rate of 39 bits per second

Woolworths' 'Scan and Go' app is now offering 25% off of groceries til the end of the month to anyone who signs up. Note: Metro Woolies only (CBD, Double Bay & Mona Vale). Mad steal

TRIVIA 
Answers at the end of the email

(a) Aside from the Dakotas & Carolinas, how many US states with 2 words are there? 

(b) Which US president was known for his use of malapropisms? 

(c) What does the second 'A' in QANTAS mean?

JIMMY'S NOTES

Lots of payments this week, so it seems fitting to welcome Assembly Payments to Friends of the Inner Loop! Assembly's on a mission to provide a simple, unified commerce experience across both online and instore channels. More here (also, disclaimer: I currently work at Assembly)

Have a great weekend.

All the best,
Jimmy
FRIENDS OF THE INNER LOOP


Assembly Payments Careers
Assembly provides a payment platform that enables marketplaces, platforms and banks to create extraordinary payment experiences



Reinventure Jobs
Open roles within the Reinventure portfolio. Maybe time for a change to FinTech?



DiviPay Jobs
DiviPay is an awesome up and coming corporate card & expense management platform. Co-founder Dan has been a long time reader / fan of the Loop! Check out the link for some of the roles they are looking for as they scale up.

 
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Trivia Answers 

(a) 6 (becomes a lot easier when you think of 'New'). New Mexico, New Hampshire, New York, New Jersey, West Virginia, Rhode Island)

(b) George Bush ('Bushisms'). My favourite of his - "They misunderestimated me". More here

(c) Aerial (Queensland and Northern Territory Aerial Services)

 
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