Australia Dealbook: Fincast in pact with OCBC; Responsight closes $880k round

Waterfront view of Sydney, Australia

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.

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ResponSight concludes $880k investment

Melbourne-based enterprise security company ResponSight has raised a $880,000 round led by Carthona Capital including a follow-on investment from Black Sheep Capital.

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.”

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.