Business
Ambitious fintech Spitfire in administration – The Australian Financial Review
The wealth platform backed by Regal and IFM Investors has appointed administrators and owes $5 million to creditors including Bloomberg and Equity Trustees.
Spitfire’s ambitious plans to steal market share from ASX-listed darlings Netwealth and Hub24 and the large bank-owned wealth managers were being watched closely, especially after UBS analyst Kieren Chidgey listed it as a key participant in the “next wave of disruption” in the industry.
It raised $9 million in 2019 via equity and convertible instruments, including from the powerful IFM Investors, owned by 27 industry super funds, and hedge fund Regal.
A Spitfire investor pitch deck circulating…
-
Noosa News19 hours agoChild, 15, arrested over death of another child, 8, after shocking e-bike crash in Queensland
-
General16 hours agoCrowe toasts talkback titan for platforming ‘voiceless’
-
Noosa News17 hours agoQueensland Drug and Alcohol Court provides sentencing options – Proctor
-
General17 hours agoSingapore’s world-first sustainable flights tax will see some Australians pay more to travel