News Pulse for June 8, 2018

A daily download of SME, startup, fintech and tax news from around Australia.

Prospa’s embarrassing false start raises questions

What a miserable outcome for the over-hyped but underwhelming listed tech sector that a flagship company — Prospa, the fintech lender — has its float halted by regulators at the very last moment.

Charging 41 per cent annual interest rates to small business who can access your loans online is not innovation, it’s exploitation.

Fintech startup HashChing has launched an equity crowdfunding campaign

Mortgage marketplace startup HashChing, a fintch startup disrupting the monopoly of the big banks, has launched an equity crowdfunding campaign.

It’s currently live on the Equitise platform , which has one of the seven crowdfunding licences issued for the first time this year.

Lack of qualified staff biggest challenge for midmarket businesses: MYOB

MYOB has been taking a look at midrange companies and the issues they face.

Transforming the Mid Market  says the 51,000-strong Australian mid-market — those with 20 to 200 staff — makes up 2.3% of all businesses, employs a quarter of the workforce, and has a combined revenue of $500 billion.nnNot all the issues canvassed in the report relate to technology, but as this is iTWire we’ll focus on those that do.

Prospa IPO on ice, for now

Online lender Prospa’s much-hyped initial public offering has been pushed back even further, with the fintech temporarily ­putting its listing plans on ice.

Prospa and its joint lead managers — UBS and Macquarie — have decided to delay the IPO past its earlier 48-hour window, with no specific date scheduled at this point.

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