WEEK STARTING OCTOBER 28
AUSTRALIAN FINTECH & STARTUPS
Wisr partnered with NAB via a $50m debt warehousing program
Tyro's IPO is going full steam ahead, amidst an uncertain IPO market (six have been canned this month)
The ACCC is taking Google to court over misleading location data. Hopefully Google's lawyers are feelin' lucky
BNPL: Zip announced their quarterly results, while Afterpay announced a partnership with Marks & Spencer
Uber announced Uber Money. Their digital wallet, Uber Wallet, comes complete with personal finance management and a linked credit / debit card (sound familiar ?) If you're a company making ~$3bn revenue, fees charged by banks & schemes can seriously add up. Further analysis here
Side note: I wonder if this signals Uber's entry into lending. Uber could be creating a financial product that is lent against a driver's record (a la cashflow lending), which a driver could use - then any future trips shed off the loan's amount. Still unsure of the use case though (or at least one that doesn't look & feel like a payday loan)
Twitter is going to ban all political advertising on its platform - two weeks after Zuckerberg said that Facebook wouldn't (see Inner Loop 73). Awesome thread & explanation by Twitter CEO, Jack Dorsey, here
Great read: Getting to Product / Market fit
Workplace learning startup, HowNow, raised $3m funding. HowNow autonomously curates relevant reading & learning resources via a browser extension & integrations with Slack, Salesforce, Hubspot etc. Super clever and worth a read here
"The web is 25 years old, and signing up for and paying for things is still broken. Why do you have to create an account and make up a password? Why do you have to type in a number off a card in your pocket? There is a big opportunity here that will seem obvious in retrospect." - Paul Graham
Answers at the end of the email
(a) What beer comes in the following versions: draught, red, foreign extra stout & 200th anniversary?
(b) One and two cent coins were removed from circulation in Australia in 1992. What happened to a lot of these coins a few years later?
(c) What was the first entirely tropical country to enter the Winter Olympics?