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Challenger B2B fintech Parpera aims for $800,000 crowdfund target

B2B fintechB2B fintech Parpera has opened shares for trading with equity crowdfunding platform Equitise, with the aim of raising $800,000.

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Parpera, an Australian fintech building a digital ​banking ​alternative for businesses, freelancers, and entrepreneurs, has opened shares for trading with equity crowdfunding platform Equitise.

Founded by Daniel Cannizzaro, a former EY financial services management consultant, each Parpera share is valued at $5 with a minimum investment of $250. With a minimum funding target of $250,000, trading in Paropera shares is now at $400,000 with the aim of raising up to $800,000.

The firm says it will provide businesses with a digital wallet, card, payment, and money management capabilities via an in-app marketplace of third party providers.

The company has secured an initial strategic integration partnership with accounting software provider MYOB, which will provide Parpera with App Partner and App Marketplace integration and marketing access to ~1m Australian businesses.

Parpera founder Cannizzaro says the firm has an early waitlist of 1000 early registrations.

Source: https://australianfintech.com.au/challenger-b2b-fintech-parpera-aims-for-800000-crowdfund-target/

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8common (ASX:8CO) raises $2.25M in extra capital

extra capitalASX-listed Australian fintech company 8common has successfully completed its recent capital raise, walking away with $2.25 million in extra capital.

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8common (8CO) has successfully completed its recent capital raise, walking away with $2.25 million in extra cash.

The fintech company said it received firm commitments from investors as part of the share placement.

Under the offer, new shares were worth 13 cents each and over 17.3 million shares were available to buy.

The placement will settle on October 28, with new shares to begin trading on the ASX by October 30.

“8common are delighted with the strong response from the institutional investment community to the placement,” 8CO Executive Chairman Nic Lim said.

The fintech stock will use the $2.25 million raised to expand CardHero — the company’s integrated payment and expense management solution.

To read more, please click on the link below…

Source: 8common (ASX:8CO) raises $2.25M in extra capital – The Market Herald

Source: https://australianfintech.com.au/8common-asx8co-raises-2-25m-in-extra-capital/

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Australian government to review domestic payments system regulation

payments systemThe Australian government will review the regulatory architecture of the country’s payments system to ensure it can support continued innovation.

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The Australian government on Wednesday said it would commence a review into the regulatory architecture of the country’s payments system to ensure it is fit for purpose and can support continued innovation.

According to Treasurer Josh Frydenberg, the review will look at whether the existing regulatory architecture of the payments system is suitable given rapid changes in technology, how to drive increased productivity through innovation and competition, assess government payment systems, and analyse global trends to determine how Australia can remain internationally competitive.

“The regulatory architecture of the payments system has served Australia well, but has remained largely unchanged for over two decades. This comes at a time when consumer appetite for using different payment methods, like contactless payments, has accelerated,” he said in a statement.

“It is critical that the regulatory architecture supporting our payments system promotes innovation and competition to ensure that costs to business are minimised, consumer experience is enhanced, and there is confidence in the security of the system.”

The review will be chaired by King and Wood Mallesons partner Scott Farrell, who also undertook the formative review that led to the Consumer Data Right regime, and involve consultation from industry, consumer and privacy advocates, and other interested parties to develop a report and recommendations.

Source: https://australianfintech.com.au/australian-government-to-review-domestic-payments-system-regulation/

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Bitcoin goes mainstream as institutional ‘wall of money’ begins buying

wall of moneyBitcoin is on track to hit US$1 million (A$1.4m) per coin in the next five years as a result of a wall of money looking to tap into Bitcoin appreciation.

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In a moment of deliverance for cryptocurrencies, institutional investors are turning to Bitcoin as a hedge against fiat currencies that are losing value.

The world’s preeminent cryptocurrency is on track to hit US$1 million (A$1.4 million) per coin in the next five years as a result of a wall of institutional money looking to tap into Bitcoin appreciation – that’s the verdict from former Goldman Sachs hedge fund manager Raoul Pal, the man who founded financial news platform Real Vision.

Bitcoin prices have quickly grown from around US$13 (A$12) per coin in late 2012 to as high as US$20,000 (A$25,000) in 2017, before collapsing to as low as US$3,000 (A$4,500) in 2019.

The volatile gyrations have led many market participants to declare the cryptocurrency as an unsuitable asset and far too risky to be considered as a significant long-term investment.

However, things are quickly changing with institutional fund managers seeing Bitcoin in a completely different light.

Bitcoin allure

According to Mr Pal, heavy-hitting institutional investors are now eyeing up Bitcoin as a serious vehicle for long-term investment and portfolio allocation.

Earlier this month, Mr Pal revealed Bitcoin holdings in his portfolio were now “above 50%”, having previously been equally distributed between United States dollars, gold, equities, and Bitcoin.

Source: https://australianfintech.com.au/bitcoin-goes-mainstream-as-institutional-wall-of-money-begins-buying/

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