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Techboard’s Fintech Funding Project

23/08/202302/05/2025 Peter van Bruchem

The Fintech Funding Project 2023 Report was published on 29 August 2024.

The funding events captured and reported on by Techboard are collected from public announcements and from direct reports to Techboard. Avid readers of Techboard's releases might have noticed a shift in the terminology we have been using and the increasing reference to "announced" deals. This is not only because we have long known that not all capital raises by Australian Startups are announced. We estimate that public announcements may account for less than 50% of private investments into Australian Startups in both number and dollar value and Techboard has been developing an approach to identify measure and reveal these unannounced investments. This approach enables us to identify:

Total capital raised by the company since incorporation (of the relevant capital entity).
Unannounced capital raising activity both before and after the commencement of the project
The capitalisation table for the Fintechs that are Pty Ltd companies (or owned by Pty Ltd holding companies), except where complicated corporate structures makes this difficult.
The amount raised and a calculated valuation or deal price for any capital raises by target companies occurring after the commencement of the project.

Our approach involves obtaining data from the Australian Securities and Investments Commission (ASIC) which is derived from the filings Australian companies must make with ASIC following a capital raise involving the issue of shares. This ASIC company data is publicly accessible but sits behind a paywall, making any sort of investigation into investment trends very expensive and also time consuming.

We have been piloting this approach on Australia's Fintech sector since late in 2022 with a view to extending this approach to monitor the entire Australian startup ecosystem.

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Key Numbers

Australian Fintech companies* being actively monitored for capital raising activity c.800 *Privately owned (non-acquired and unlisted)

Fintechs identified as having issued shares - 170 in H2 2022 and 140+ in H1 2023

Fintechs announcing private investment deals in FY23 - 91 (raising $1.009b) in CY 2023 - 83 (raising $758m)

Fintechs with significant unannounced deals pre-2023 - TBA

Amount of capital raised in unannounced deals in 2023 - TBA

Number of Investors/shareholders identified - TBA

The identity of key investors backing Australian Fintechs in unannounced deals in 2023 - TBA

NOTE:

Our approach is only able to identify capital raises where shares have actually been issued as opposed to investments by way of convertible or SAFE notes.
Not all Share issues are connected to genuine capital raises.

We have analysed the data collected and will soon be publishing a report to demonstrate the power of this data. The Report will contain an aggregation of the data we have captured as well as examples of specific unannounced deals.

Please get in touch if you are interested in supporting this project or accessing the data we are compiling on the Australian Fintech Ecosystem. All data captured during the course of the project will be available to our Project Partners.

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FUNDED June 2023 – Including a Teaser of Funded FY23

28/07/202302/08/2023 Peter van Bruchem

Welcome to our summary of Australian startup and tech company funding news for the month, FUNDED for June 2023.

FUNDED is out a little later than usual as the Techboard Team have been hard at work putting together FUNDED FY23 Australian Startup Funding in review which will be out next week.

For the month of June Techboard captured $309m worth of private investment from 79 deals. To save you the effort of going back over previous editions of FUNDED this takes the total VC/private funding for the June quarter 2023 to $1.182b from 162 announced and reported deals and $2.193b from 284 announced and reported deals for H1 2023.

For the record Techboard captured a total of 90 funding events for June, including 79 private investments, 3 public investments, 3 grants, one debt financing and 3 acquisitions. We created new profiles for 69 new companies, 22 new funders/investors and 100 new company founders.

FUNDED May 2023

08/06/202309/06/2023 Peter van Bruchem

Welcome to our summary of Australian startup and tech company funding news for the month, FUNDED for May 2023.

Private investment levels from deals announced in May 2023 dropped from April's levels from $498m from 40 rounds down to $374m from 42 deals (noting we haven't had any angel deals reported to us for the month). This represents the lowest level of private investment captured for a May since 2019. What should be noted is that there were no deals greater than $100m for the month and only megadeal of $50m or more. In fact, if we omit deals of over $100m, May had the largest amount of investment reported so far in 2023.

For the record Techboard captured a total of 95 funding events for May, including 42 private investments, 3 public investments, 45 grants and awards and 5 acquisitions. We created new profiles for 41 new companies, 31 new funders and 64 new company founders.

FUNDED April 2023

23/05/202324/05/2023 Peter van Bruchem

Welcome to FUNDED for April 2023 our summary of Australian startup and tech company funding news for the month.

During the month of April Australian startups announced they had collectively raised $498m from 40 private rounds. This was a substantial increase in dollar value from March which saw close to $206m from 49 deals (noting that we have added 14 rounds since the last edition of FUNDED... due to a delay in the reporting of generally smaller investments). Funding levels for the month were however buoyed massively by one funding round which accounted for 45% of the total value of the deals announced.

FUNDED March 2023 – Including Q1 Funding Update

18/04/202319/04/2023 Peter van Bruchem

Welcome to this Month's FUNDED, also including an overview of funding for the March Quarter 2023.

As predicted in the February edition of FUNDED, March funding levels were quite subdued in part due to the fallout of the recent collapse of the Silicon Valley Bank as well as a number of other factors such the increase in interest rates and cost of living pressures. In March 2023 Australian startups announced they had collectively raised $204m from 36 private rounds. This was less than half the amount announced in February which saw $432m from 47 deals and even down from the usually slow January which saw $372m from 28 deals.

As a Quarter, Q1 2023 saw a little over a billion in private/VC investment with $1.010 billion from 111 deals. Read on for our breakdown of the quarter.

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FUNDED February 2023

13/03/202313/03/2023 techboard

FUNDED January 2023

23/02/202328/02/2023 techboard

Welcome to the January 2023 edition of FUNDED. We are a little later than usual with this edition... we have been a little focussed on FUNDED 2022 and our new Fintech Funding Project.

Australia’s tech scene kicked of the year with $451m in total funding for January, $379m of which comes from 30 venture capital deals. Almost half of that amount comes from one megadeals, Xpansiv’s $181m raise. January’s VC funding Funding levels were subdued as usual for a January with VC funding down $59m less than December 2022.

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FUNDED 2022 is released

30/01/202308/03/2023 Peter van Bruchem

FUNDED December 2022

30/01/202330/01/2023 Peter van Bruchem

This edition of FUNDED is brief for two reasons, December was a little quiet and we have also been working on our latest report, FUNDED 2022 Australian Startup Funding in Review. December 2022 did not continue the growth trend we had seen from September through to November 2022 from the low in August this year. December saw $438m from 45 deals (including equity crowdfunding raises) are included) compared to $685m in November. Taking into account all funding types we captured 55 completed funding events totalling $546m. Find out more about FUNDED.

FUNDED November 2022

08/12/202208/12/2022 Peter van Bruchem

For the past two months Techboard has reported substantial month on month increases in private funding (of 140% and 33%) since the 9 month low in August this year. November showed marginal growth from October with $678m from 38 deals (or $685 from 49 deals if equity crowdfunding raises are included) compared to $665m in September. This is now the third month in a row suggesting a recovery in funding levels when looking at top line dollar amounts. Taking into account all funding types we captured 61 completed funding events totalling $757m and another 12 open and future funding events. Find out more about FUNDED.