The latest investment round’s revenue will be directed at accelerating growth, having as a focal point the expansion of the team to help support a full pipeline of Australian clients, as well as international development.
Shaype’s Series C closing has an uplift in valuation, while global equity markets and the technology sector particularly have undergone a material repricing in valuations in 2022. Australian fintech companies raised USD 0.8 billion during the first half of 2022, indicating that by the end of the year fintech investments are expected to be down 39% compared to 2021. The drop was accelerated by a second quarter performance where USD 150 million was raised, approximately 75% less than the first quarter of 2022. Consequently, the number of deals made in the second quarter had a 52% collapse, with 24 deals having been carried out.
Shaype is expected to launch solutions for a range of businesses across the financial services, HR, PropTech, and Government sectors by the end of 2022, and by Q4 2022 it aims to be one of the first payments service providers live on New Payments Platform Australia’s PayTo, with both Payment Initiator and Payer services.
In May 2022, Hay-as-a-Service (HaaS) was announced by the Australian Hay group as having become Shaype. With key attributes such as project acceleration and de-risking technology execution for startups as well as established suppliers, the HaaS platform, launched first in 2020, had a foundation that enabled it to become Shaype and continue building its wholesale technology platform.
Having 100 employees globally and offices in Sydney, London, Belfast, Glasgow, and Warsaw, Shaype’s core product is the creation of transaction accounts – including joint accounts – with BSB and account number linked to a Visa card.
Card payments (complete BSB range within their core banking service)
Bank transfers (fast to market solutions to a wide range of non-scheme payments options that cover NPP, Direct Entry (DE), PayID, and Direct Debits)
Wallets & Tokenisation (full access and front-end integration to mobile wallets in Apple Pay and Google Pay, including front-end integration, digital card provisioning, and showcard functionalities)
Dynamic authorisation (capabilities that allow the creation of instant bespoke payment experiences)
Know Your Customer (KYC), data, and insights
Real-time anti-money laundering (AML), Counter-Terrorist Financing (CTF), and fraud monitoring across all payment channels.
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