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)
Fintechs with significant unannounced deals pre-2023 - TBA
Fintechs undertaking genuine capital raises in 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 are now analysing 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 some 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.
Have you seen the latest edition of FUNDED? Techboard's summary of the latest in Australian Startup Funding News.
For access to our full data capture, sorted, catalogued and full searchable, inquire about a data subscription.
