It’s Thursday. Here’s what you need to know in Australian tech today.
1. NAB has jointed the fintech party. Today the bank launched a $50 million investment fund to speed up innovation in mobile, payments and data. The fund will be spread across three years and will be based in the bank’s innovation labs. There’s more here.
2. While we’re on fintech, CBA is set to announce some new tech innovations today which will extend the bank’s mobile wallet offering beyond payments. While the specific details will be revealed later today, it is understood both will be targeted at retail customers and one has also been developed in partnership with Westfield. Have a look inside Commbank’s huge Innovation Lab where it works to maintain tech leadership.
3. It looks like Telstra is gearing up to float its video startup Ooyala in the US. The telco has spent about half-a-billion dollars on the company which is yet to turn a profit. But Ooyala CEO Jay Fulcher says listing is inevitable as it eyes growth. More here.
4. Sharks are circling. Training software startup GO1 has raised $1 million from Shark Tank judge Steve Baxter and Sydney venture capital fund Tank Stream Ventures. The Brisbane-based company has also hit 150,000 users.
5. The party rolls on. Sydney Angels-backed startup Venuemob has expanded from Sydney and Melbourne and is now available in Brisbane Perth, Adelaide and the Gold Coast. Since 2012, the startup has raised nearly $1 million and since August last year it has increased transactions through the platform from $5 million a month to $12 million. It has now processed a total of $100 million through the platform which helps users find venues for their events.
Have an awesome day! I’m on Twitter.
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