Eight Australian #Fintech Startups to watch in 2016

Money makes the world go round; from household budgeting to financing groundbreaking ventures, managing finances is key to success. Thanks to the digital era, there have been some fantastic startups in the past few years which innovate the way we use money. Here are the eight big and small Australian startups blazing a way forward in the finance world.


#1 FirstStep – A mobile app for investing with your loose change 

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FirstStep looks to turn the traditional idea of investing upside down, by allowing you to begin your own portfolio just with your loose change! With a simple mobile app that tracks your everyday spending, spare change is automatically allocated to a personal, low-cost portfolio. Each purchase, say a $3.80 coffee, is rounded up the nearest dollar value so that a trickle of change ($0.20 in this case) is transferred from your account to your investments without you lifting a finger. Over time, your investment grows naturally without any of the hassle or headache of traditional investment strategies. Dividends are automatically reinvested, and when your portfolio has matured you can withdraw from your investments at any time.

FirstStep is a fantastic example of creative Australian innovation, and definitely a service to consider for anyone with change to spare.

Vote for FirstStep on Product Hoist

#2 Pocketbook – Budgeting made easy

 

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Everyone knows budgeting is important, but nobody wants to sit down for a few hours and crunch numbers every week. Thankfully, there’s an app for that. Pocketbook is a free online financial management service on iOS and Android which helps Australians keep on top of their various financial commitments. Pocketbook directly integrates with Australian banks to keep track of savings, spending, investments and super. You can organize your spending into categories and visualize your spending habits with automatic graphs and pie charts; gone are the days of spreadsheets! Pocketbook also keeps you on track and up to date with push notifications so you don’t miss those annoying bank fees or miss another bill. This money and time-saving app is a must-have intuitive system for anyone with a bank account.

Get Pocketbook on iOS or Android

Vote for Pocketbook on Product Hoist

 

#3 Simply Wall St – Find and manage profitable investments with intuitive infographics

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For investors who’ve already got a bit of experience, or for the ambitious first-timers, Simply Wall St does away with dizzying spreadsheets by presenting company information on infographics. Details such as returns, assets and liabilities are broken down in colourfully arranged graphics that make even the most complicated financial details easy and straightforward to understand. You can use Simply Wall St to visually identify which investments are the most profitable, then keep a confidently informed eye on them using the portfolio tool. New investors can easily get started with the free version, however more advanced features, such as unlimited transactions and portfolio alerts are available with the paid service. Knowledge is power, and this Sydney based startup has made investment knowledge more accessible than ever before.

Get Simply Wall St on desktop with Chrome

Vote for Simply Wall St on Product Hoist

#4 Coinjar – Next-gen personal bitcoin account

 

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Most would’ve heard of the wildly popular cryptocurrency – bitcoin – which has taken the internet by storm in the past few years. (If you haven’t, watch this video). As more online goods and services are becoming bitcoin-friendly, having a bitcoin account, is not only practical but maybe essential. Coinjar is the simple app & card solution for anyone looking to start trading in bitcoin. The biggest nuisance with bitcoin is changing between international currencies, which thankfully happens to be Coinjar’s greatest strength. With a Coinjar Swipe card, you can use bitcoin at any Australian retailer and withdraw cash at any ATM with ease. Oh, and don’t worry about those crazy bitcoin price fluctuations, since with Coinjar you can hedge your cryptocurrency against major currencies for peace of mind. Given that everyone uses the internet, and bitcoin is the currency of the internet, Coinjar is definitely a must have.

Get Coinjar Touch on iOS or Android

Vote for Coinjar on Product Hoist

#5 Stockspot – Online hassle-free investment adviser 

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Investing can be a powerful and effective endeavour, but it can be an intimidatingly complicated ordeal to break into without expensive investment advisers. Stockspot aims to solve this by making investing an easy and hassle-free process. The online service operates in 175 countries, and has a portfolio of over 1400 companies across 12 industries. Independently operated, Stockspot avoids the traditional pitfalls of investment advisers selling you products which they themselves benefit from by charging obscure and ridiculous fees. Stockspot takes care of choosing which assets and investment strategy is right for you, and helps you keep track of them with transparent online monitoring. New investors can’t go wrong with this fantastic Australian investment service.

Vote for Stockspot on Product Hoist

 #6 Money Brilliant – Get brilliant with organizing your finances

 

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Money Brilliant is another great Australian based finance organizer with the key idea of bringing all of your money matters into one place. Your financial information is accessible from a single hub which presents accounts and spending habits into easily understood pie charts and lists. You can track your expenses to see where you’re going over budget or have a bit more wiggle room. Most of MoneyBrilliant’s functionality is accessible from the iOS app which also sends automatic alerts to keep you on track with your saving goals. Like Pocketbook, MoneyBrilliant makes for a fantastic, easy budgeting system.

Get MoneyBrilliant on iOS

Vote for Money Brilliant on Product Hoist

 #7 Invoice2go – Modern and paper-less invoicing

 

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With apps and technology these days, you’d think there’d be a better way to invoice than spending weekend hours at a desk writing by hand. That’s where Invoice2go comes in. The Invoice2go service saves on average 3 hours per week, and completely streamlines creating and sending invoices. From labour to creative industries, you can generate an invoice on the spot after finishing a job and send it to clients automatically by email. You can also keep track of unpaid invoices and stay organized with charts and reports. Everything can be managed through a simple and intuitive smartphone app. Never have invoices been so next-gen!

Get Invoice2go on iOS, Android or desktop with Chrome

Vote for Invoice2go on Product Hoist

#8 VentureCrowd – Australia’s leading crowdfunding platform

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From startups to video games, crowdfunding is the platform which allows anyone to launch their bright idea. Australia now has its own leading crowdfunding giant with VentureCrowd; an equity platform which specializes in startups, property and credit investments. Since 2013, VentureCrowd has raised over $10 million for several successful ventures, including Ingogo, Jayride and CrowdMobile. CEO Rob Nankivell stated in an interview with The Australian that, “[they] expect the platform will successfully complete capital raises for 20 to 30 of Australia’s leading and most exciting innovative start-ups over the next 12 months.”

It’s an exciting time for startups around the world, so it’s fantastic to see an Australian platform spearheading the way forward for home-grown innovation.

Vote for VentureCrowd on Product Hoist

 

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