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AUSTRADE Head Office

Levels 1-2, Nishi Building, 2 Phillip Law St
Canberra ACT 2601
Australia

Austrade London Office

Australia House Strand
London WC2B 4LA

Telephone

+44 (0) 20 7632 0004

Contact

Andy Thompson
[email protected]

Tagline

Australian Fintech gain number six spot in global ranking

Mission Statement

The Australian Trade and Investment Commission (Austrade) is the Australian Government’s international trade promotion and investment attraction agency.

We deliver quality trade and investment services to businesses to grow Australia’s prosperity. We do this by:

  • helping Australian businesses connect to, and capitalise on, opportunities in global markets
  • attracting international investment to help Australia reach its economic potential
  • helping market-ready startups and scaleups innovate and go global.

“Australia has a familiar regulatory regime and high quality fintech talent. This makes Australia an attractive market for Revolut’s expansion outside of Europe.” Matt Baxby, Chief Executive Officer of Revolut Australia

Profile

Australian fintech combines a dynamic ecosystem, high-skills talent and progressive regulation. And our businesses and consumers are some of the fastest fintech-adopters in the world. This makes Australia an attractive destination for fintech investors and buyers. Discover what investing in Australian fintech can do for your business.

Benefits

Austrade services for investors and exporters include:

  • generating market-leading information and insights
  • promoting Australian capabilities
  • making connections through an extensive global network
  • working collaboratively with partner organisations.

Austrade advisers work in 106 locations, including 68 posts located overseas.

“The on-the-ground support we got from Austrade was exceptional. Austrade helped us understand the regulatory framework in Australia during our exploratory phase. They also introduced us to a number of legal advisors who helped us through license-application formalities.”

Ben Smith, General Manager for Australia, Railsbank

Goals

Australia’s competitive edge in Fintech

Australia is gaining ground in global fintech rankings. In 2021, the country ranked 6th in the world for fintech development and second in the Asia Pacific region, according to global research and analytics firm, Findexable (Source: 2021 Global Fintech Rankings, Findexable, accessed July 2021).

These latest rankings reflect a vibrant fintech culture. Australian businesses, governments and citizens are early adopters. With more than 800 fintech firms, Australia has one of the world’s most sophisticated financial technology industries.

Global investment is powering fintech exports and global expansion. Despite recent global challenges, Australia saw a solid start to 2021, with US$890 million in fintech investment in the first half of the year. Examples including National Australia Bank’s US$170 million acquisition of digital bank 86 400.

Payments firm Airwallex and green energy-focused point-of-sale (POS) credit and sales provider Brighte have both recently raised US$100 million (Source: KPMG, Pulse of Fintech H1’2021, accessed January 2022).

The purchase of Afterpay (trading as Clearpay in the UK) by US-based Block for US$29 billion (A$39 billion) showcased the success of Australian fintech in overseas markets. Payments firm Airwallex also completed a US$100 million raise in 2021 (Source: KPMG, Pulse of Fintech H1’2021, accessed October 2021).

Australian fintech has several built-in advantages:

  1. Pragmatic regulation that combines pro-innovation policies with market stability.
  2. Business and cultural ties with Asia, that make us an ideal base for regional operations.
  3. A willingness to go global fast – even among small fintechs and startups.
  4. High availability of qualified, fintech-talent and technology-development skills.

These factors make Australia a great hub for product innovation and a popular test market. And our lifestyle cities helps us attract and keep global fintech talent.

Discover what investing in Australian fintech can do for your business: shinewithaustralia.gov.au/fintech