Extract from Startup smart by Dinushi Dias
Investment in Australia’s fintech sector soared to more than $US600 million ($780 million) in 2016 up from just over $US50 million four years prior, according to a KPMG report The Pulse of Fintech .
In 2015 $US185 million injected across 23 fintech investments in Australia and a year later, $US656 million was injected into 25 deals.
Prospa’s recent $25 million investment round led by AirTree Ventures, shows that their is an appetite for Australian tech companies by Aussie VCs, says Prospa founder and chief Beau Bertoli.
An opportunity to attract Chinese Investors into Fintech
Victor Jiang, founder of Australian venture capital fund Sapien Ventures, which targets Chinese investors, says opening up the door for overseas investors to participate in the local startup sector is also helping to strengthen the fintech market Down Under.
“Recent changes in policies such as the Significant Investor Visa (SIV) program has strongly catalysed foreign inbound capital into the much needed early-stage venture capital and entrepreneurial ecosystem,” says Jiang.
“With US policy uncertainties and Brexit, the time is ripe for Australia to become a leading regional hub of fintech investment and excellence.”