Funding

The funding round: Fast cash loans, a marketplace for globe-trotters and fleet control score $34.9 million

Dinushi Dias /

In this week’s funding round, online lending, enterprise solutions and global hiring startups rake in nearly $35 million.

The investment deals uncovered include a Perth-founded fintech backed by a Chicago billionaire; a fledgling startup that has won government support at a hackathon; and an Estonian startup that has sparked the imagination of one of Australia’s leading VC firms.

Read more: The Funding Round – Harvey Norman’s secret startup, elite sport and HR grab more than $80 million

ENABLY BANKS $33.5 MILLION

What they do: Fintech firm Enably is an online lending platform targeting people with incomes of about $60,000 per annum. It offers “fast and flexible loans” ranging from $200 to $10,000. For loans under $2000, Enably calculates the monthly fee based on the customer’s account balance. Since launching in 2013, Enably has loaned money to over 18,000 customers.

Led by: CEO and former Nimble executive Andrew Kirkwood, who took over from Enably founder David Brennan a year ago.

How much: $33.5 million in equity and debt from existing shareholders, including Chicago tech billionaire investor Richard Driehaus.

What happens now: Kirkwood says the investment will be used to grow the company’s brand and profile across Australia.

“The equity and debt raise will enable us to take our business to the next level,” Kirkwood says.

“We have put our customers in control of their loan, using data from individual customers to determine the loan duration offered.

“Our aim is to provide a product that provides our customer with a loan and repayment schedule that matches their current financial position so delivers maximum flexibility.”

JOBBATICAL BANKS $1.4 MILLION FROM AIRTREE VENTURES

What they do: Jobbatical is a two-year old Estonian-founded startup that provides tech professionals looking for a sea change with a global jobs marketplace, offering year-long projects with new teams in new places around the world. Since launching in 2014, Jobbatical has gained more than 60,000 members keen to relocate and start new work-life adventures.

Led by: CEO Karoli Hindriks, a serial entrepreneur who co-founded the startup with Ronald Hindriks and Allan Mäeots.

How much: $1.4 million ($US1 million) from AirTree Ventures.

What happens now: AirTree Ventures partner John Henderson says they have invested and partnered with Jobbatical to help it break into the Asia Pacific region.

“Every startup in Australia is crying out for more talented software developers, designers and growth hackers,” Henderson says.

“Jobbatical is helping solve a huge, global problem and we’re excited to be helping the company expand into Australia and the Asia Pacific.

“With this new partnership, the venture capital firm actively invests in attracting skilled talent into Australia and the Asia Pacific.”

This investment is one of many cross-border deals, including the recent $44.1 million Paxata round, that AirTree Venture is making to bolster up its positioning in the global VC market.

“It helps the whole ecosystem,” AirTree Ventures partner Craig Blair told StartupSmart.

FLEETSU BANKS $45,000 INCLUDING PRIZES

What they do: Telematics platform Fleetsu is a Perth-based startup providing enterprises with a platform that integrates live GPS tracking, reporting features and satellite connectivity to optimise and manage the use of fleet vehicles, machinery and equipment. Fleetsu is used by a range of organisations including Australian police units to enhance rescue and search capabilities.

Led by: CEO Jakub Felinski

How much: $30,000 cash, including $15,000 in prize money from Motorola Solutions and $15,000 from the Queensland government.

What happens now: Fleetsu took out the winning prize at a Brisbane-based hackathon held by Motorola Solutions to create solutions for operational challenges faced by public safety agencies.

In addition to the money, Felinski is walking away with $15,000 in credit from Amazon Web Services to help get the solution to market.

Follow StartupSmart on Facebook, TwitterLinkedIn and iTunes.

Advertisement
Dinushi Dias

Dinushi Dias is a journalist at StartupSmart and multimedia content producer. When she’s out of the office, she works on social projects with her We Love It Productions family and buddying filmmakers.

We Recommend

FROM AROUND THE WEB