More than $600 million in funding went into Australian startups last quarter, and fintech took the most cash

Techboard’s Peter van Bruchem and Rafael Kimberley Bowen. (Source: supplied)

Startup tracking service Techboard has compiled its first national numbers on capital raised in the Australian startup community, finding $625 million had been raised for the quarter ending June.

The amount includes equity, debt facilities, acquisitions and grants for more than 100 startups and “young” tech companies less than 10 years old (or had a significant “pivot” in the past decade).

“We put together our funding reports based on the data collected in the course of running the monthly Techboard Ranking, supplemented with intel from Techboard’s many investor contacts across the country,” co-founder Rafael Kimberley Bowen said.

NSW led the states for most money raised, although if fintech ZipMoney’s massive $260 million debt facility in May was taken out Victoria top the list with $130 million going to 29 companies.

Source: Techboard

Fintech grabbed $315 million of the total pool, with ZipMoney’s contribution again making a huge difference in NSW, along with smaller raises by Stockspot, Simply Wall Street, Inamo and InDebted. Airwallex’s $17 million was the big fintech contributor out of Victoria, along with Western Australia’s DigitalX and Star Payment Systems.

Perth’s HealthEngine raised $26.7 million in April to lead the way among health tech startups, which collectively harvested more than $60 million in the June quarter.

Average valuation during the quarter was $27 million per company, with marketing tech startup Rokt being valued at $167 million, HealthEngine at $75 million and superannuation fund Spaceship at $70 million.

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