Australian startup Fincast has partnered with OCBC Bank while ResponSight has concluded a $880,000 funding from investment firms Cathona Capital and Black Sheep Capital.
Sydney startup Fincast in pact with Singapore OCBC Bank
Sydney-based fintech startup Fincast, a tool used to minimise manual portfolio investment analysis, has scored a lucrative partnership with OCBC Bank after winning a worldwide hunt for tech solutions that simplifies banking.
Selected from 200 applicants in a global Nest accelerator programme earlier this year, it is now one of the three selected to complete a three-month pilot programme with OCBC Bank. Starting off with 20 financial advisory companies in Australia, CEO Connors highlights that OCBC is their largest client, a milestone for the startup.
The three-month pilot programme will begin in Q4 2016 with Fincast software being used by 100 OCBC Premier Banking customers, helping them break into the Asian Market with Singapore as a launch pad for the rest of the region.
Fincast was launched two years ago as an offshoot of Connors’ other startup, investment solutions company Quilla, where advisors are able to customise and build portfolios in real time with relevant research available.
ResponSight concludes $880k investment
ResponSight claims that its technology detects hackers using behavioural analytics by evaluating differences in user activity to proactively detect and isolate threats. Proceeds from the investment will accelerate the company’s international growth in 2016-2017 with a focus on talent acquisition and building the required infrastructure for international operations.
Its last investment was a $57,450 investment in 2015 through the BlueChilli Disrupt@Scale programme with corporate partner Westpac, which facilitated the development of its minimum viable product (MVP), market validation and pilot project with enterprise customers.
Jeff Paine, CEO of ResponSight, said, “Australia has had few security companies in recent years, so this round is the testament to the Australian startup scene –we can do what Silicon Valley and Israel do. Gartner predicts the cybersecurity market will reach $62.50 billion in 2016, so ResponSight is well placed to take advantage of this.”