News Pulse for September 14, 2016

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

Online shopping GST crackdown: How ‘lockouts’ will affect you

SCOTT MorrisonThe Hon. Scott Morrison, Federal Member for Cook Treasurer from 21.9.15 is planning his own Mike Baird-style lockout laws by blocking Aussie shoppers access to overseas retailers that fail to collect tax revenue for the government.

From as early as July 2017, Australians may find themselves unable to access the websites of a number of their favourite overseas stores under a plan being considered by Treasury, consumer group Choice has warned.

Fingerprint for Success determines entrepreneurial success

A new intuitive new web app allows users to navigate the degree to which they are motivated to entrepreneurship or business building, discover their entrepreneurial blind spots and compare their results with co-founders, team, friends and a sample of the world most successful entrepreneurs.

Fingerprint for Success uses evidence-based analysis from 15-years of research benchmarking the attitudes and motivations that correlate with venture success, providing invaluable insight for aspiring entrepreneurs, entrepreneurs building their business, co-founders and angel investors, VCs, accelerators and incubators.

Deliveroo’s Perth Expansion Has Opened Up Doors In Other States, Says Country Manager

By expanding its on-demand food delivery service into Perth, Deliveroo has created new opportunities for growth in the other Australian capitals where it operates, according to country manager, Levi Aron.

HelloCars launches to disrupt used-car sales in Australia

New Australian tech start-up HelloCars recently launched, aiming to give consumers a better way to buy and sell used cars.

The innovative company is founded by entrepreneurial brothers Paul and Michael Higgins who have many years’ experience in the motoring and finance industries behind them.

Melbourne startup Tribe closes oversubscribed $5.35 million Series A round to fund an international expansion

Influencer marketing startup Tribe has closed an over-subscribed $5 million Series A round as it sets its sights on a rapid international expansion.

The Melbourne-based startup announced plans to raise the funding in April and eventually closed the round at $5.35 million, bringing the total funding in the tech company to $8 million.

Tribe offers a two-sided online marketplace connecting brands with “citizen influencers”, social media users with between 5000 and 100,000 followers.

Former Fisher & Paykel COO Andrew Paykel leaves family business to launch new startup LayAway with $1 million in funding

Fisher and Paykel COO Andrew Paykel has launched a new layby travel startup with nearly $1 million in funding after leaving the family business to go it alone.

LayAway offers travel packages on layby for up to 24 months, with customers able to pay for the trips in weekly, fortnightly or monthly payments with no deposit or interest.

Sydney startup Spaceship closes $1.6 million seed round led by Atlassian founder Mike Cannon-Brookes to bring its “game-changing” offering to market

A Sydney startup offering a chance for Australians to invest their super in tech companies has closed a $1.6 million seed round from some of the most influential tech players in Australia.

Spaceship is a mobile-only super fund that will invest in larger tech companies and startups, and will be launching a beta phase by the end of the year.

Sydney startup uno secures $16.5 million in funding from Westpac

A Sydney-based fintech startup has closed a $16.5 million funding round from Westpac only three months after it officially launched.

Uno is a digital mortgage service offering a platform allowing users to search, compare and settle on a home loan online themselves.

Westpac backs fintech start-up as ‘serious’ home lending player

Westpac has invested in online mortgage finance company uno, betting the financial technology start-up could grow into a “serious player” in the $1.5 trillion home loans market historically dominated by the major banks.

Adding to Westpac’s investments in the fintech sector, the bank will today reveal $16.5 million has been ploughed into uno, operator of the platform that claims to let housing borrowers use similar technology to that employed by mortgage brokers.

Why consumer protection laws need tougher penalties

If a company tricks their customers about the product they’re selling, is that any less serious than colluding with a rival business?

For consumer groups and the competition watchdog, the answer is often “no” – misleading customers can be just as damaging as anti-competitive behaviour.

Tips, comments or suggestions? Let me know in the comments, send me an email or tweet me @simeonduncan.


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