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WEEK STARTING JULY 22


AUSTRALIAN FINTECH & STARTUPS

CBA launched micro investing app ‘Pocket’. It allows users to purchase ETFs within a mobile app ($2 brokerage fee < $1000 & $50 minimum). The app provides educational modules on learning how to invest, alongside sustainable / ethical ETF investment options. Pocket will be a competitor to Raiz, but it lacks the ability to connect any bank account (must be CommSec) and lacks any round-up features. Nonetheless, impressive to see an incumbent innovate like this

Zip Co had another cracking quarter. Highlights: 1.3m customers, transaction volume up 108% to $1.1bn. Zipping ahead!

Have received their unrestricted banking license, 86 400 is looking to raise ~$100m 

BNPL energy provider, Brighte, raised a $130m line of credit & backing from Mike Cannon-Brookes. More on Brighte here

Eyes peeled: the Consumer Data Right (CDR) bill was reintroduced to Parliament this week

BIG TECH

Tinder launched 'Traveler Alert', a feature that automatically hides the profiles of LGBTQ+ users when they travel to countries where same-sex acts or relationships are criminalised 

Microsoft invested $1bn into Elon Musk's OpenAI

Apple is acquiring most of Intel's smartphone modem business for ~$1bn. Fun fact: Apple will have over 17,000 wireless technology patents post-acquisition 

POTPOURRI

China's social credit system strikes again, banning 23m people from buying travel tickets due to poor social scores

Interesting read: The future of insurance is happening without insurance firms. A great insight into the InsurTech industry

Side read: Twitter thread on the future of social networks

PARODY

The State of LinkedIn - a twitter feed devoted to looking at brown-nosing LinkedIn posts. Hilarious read (warning: rabbit hole)

TRIVIA 
Answers at the end of the email

(a) On July 31, 1971, Air Force Colonel David Scott became the first person to drive what?

(b) What name refers to safety efforts that currently restrict cylinder capacity & prohibit supercharging?

(c) What is the world's northernmost national capital city?

JIMMY'S NOTES

Some incredible news & results from Australian Fintechs this week!

Have a cracking weekend.

All the best,
Jimmy
FRIENDS OF THE INNER LOOP


Basiq
Basiq is an aggregation platform for acquiring financial data. They provide secure access to hundreds of financial institutions through a simple set of RESTful APIs.



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) The Lunar Rover

(b) Formula One

(c) Reykjavík, Iceland
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