Funding of fintech start-ups Australia 2022, by selected company

As of June 2022, Immutable, an Australian-based fintech start-up, had raised around 855 million U.S. dollars in funding from global investors. The company provides blockchain-based infrastructure for non-fungible item (NFT) games and apps.

 What is fintech? 

From digital payment solutions to blockchain and cryptocurrency, fintech, or financial technology, encompasses technology used to improve financial services and activity. Fintech can be geared towards businesses or consumers and allows users to manage financial processes through specialized software. Globally, the number of fintech startups has continued to grow and investment in fintech companies has also continued to increase, valued at well over 100 billion U.S. dollars.

 Australia’s fintech competitive advantage

Australians are willing to adopt new technology and combined with an advanced fintech regulatory framework this places the country in a very competitive position in the market. Many fintech companies started in Australia and now have a dominant place in the global arena. Airwallex is just one example of a successful Australian fintech startup. More recently, Judobank, a challenger bank, has established itself as a major player in the market securing 1.5 billion U.S. dollars in funding in 2020. Australia’s recent success in fintech startups has solidified its standing in this industry.