Fintech Novatti announces capital raising for acquisitions including a stake in Reckon
Novatti is to undertake a capital raising with part of the proceeds intended to fund the acquisition of a 15% stake in Reckon.
Class Limited announces strategic acquisition of ReckonDocs
ASX-listed Class Limited, Australia’s leading SMSF technology platform, has today announced it has acquired ReckonDocs.
MYOB’s $180m bid to buy Reckon in doubt as Xero considered zero competition
The competition watchdog has called into doubt accounting software company MYOB’s planned $180 million acquisition of the accounting practice software unit of rival firm Reckon, saying it was concerned that the merged product would have no competition. In a statement on Thursday morning Australian Competition and Consumer Commission commissioner Roger Featherston said that If the acquisition progressed, it would likely be the only supplier of practice software suitable for medium to large accounting firms. While the hold up of its plans represents a potential blow to MYOB’s plans, it will take comfort in the backhander delivered to its main rival Xero, which had its competing Xero HQ product dismissed as […]
Reckon smashes $10 million loan milestone for Aussie small businesses
Australian cloud accounting provider Reckon’s (ASX:RKN) strategic partnership with leading fintech outfit Prospa has hit yet another milestone for the burgeoning non-bank finance sector, delivering over $10 million in funds to small businesses across the country within its first 18 months. The continued growth of the Reckon Loans platform further cements the role of small businesses – the engine room of Australia’s economy – in fuelling the nation’s fintech revolution. Launched late-July 2016, Reckon Loans empowers small businesses with swifter loan processes and easier access to capital, with the approval of funds from $5,000 to $250,000 available within one business day and no security required to access up to $100,000. […]
Reckon Loans breaks $1Million milestone
Australian cloud accounting software provider Reckon (ASX:RKN) has announced its new Reckon Loans (powered by Prospa) platform has funded over $1million to small businesses, proving the online lending market is growing at an extraordinary pace. In partnership with Prospa, Australia’s leading online lender to small businesses, Reckon Loans provides SME’s a fast and simple service with approvals and funding of loans from $5,000 to $250,000 available within one business day. Reckon Group COO Dan Rabie said Reckon Loans is a disrupter in the fintech space, adding diversity and removing the red tape from the small-business loans market. “This is a significant milestone for our business and clearly shows there’s a […]
The AI-powered cybersecurity wave threatening the financial services industry
The financial services industry now faces a two-pronged challenge: the rise of Artificial Intelligence and the persistent threat of insider attacks.
Novatti slashes expenses, identifies a clear path to positive cash flow
ASX-listed fintech pioneer Novatti have today released its December quarter report, with revenue remaining flat while Group expenses reduced by 10% Quarter on Quarter.
