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February 27, 2025
The Board of Equity Story Group Ltd (ASX: EǪS) ("Equity Story" or "the Company") is pleased to announce that Capital Haus Pty Ltd has acquired an 11.6% strategic stake in the Company at 2.6 cents per share, aligning with the last traded price on the ASX.
Capital Haus, a wealth management firm with offices in Australia, Dubai (U.A.E.) and Switzerland, specialises in tailored investment solutions for high-net-worth individuals, family offices, endowments, institutions, and foundations. Their collaborative approach focuses on developing lasting partnerships and providing comprehensive financial strategies.
As part of this strategic investment, Mr. Brendan Gow, Founder and Managing Director of Capital Haus, has joined the Equity Story Board as an Executive Director responsible for Operations. Mr. Gow brings over 17 years of global experience in wealth and financial management, having worked in Australia and the Middle East. He is recognised for his innovative approach to asset management and is a regular contributor to financial publications, including Yahoo Finance and Forbes.
Shane White, CEO of Equity Story, stated:
"This is an exciting and pivotal moment for Equity Story. Capital Haus’ investment represents far more than financial backing—it is a strategic alignment with a progressive global wealth management innovator that shares our vision of empowering investors with knowledge, comfort and choice. Brendan’s deep expertise and extensive international network will be invaluable as we accelerate our expansion. We are quite pumped about the strategic initiatives we are developing together. This is just the beginning of a transformative period for Equity Story, and we look forward to sharing more milestones with our shareholders."
Equity Story and Capital Haus will collaborate on new strategic initiatives to comprehensively support clients, members, and shareholders.
Mr. Gow’s remuneration for his executive position will be $104,000 per year subject to performance-based metrics (company revenue, funds under management and clients) assessed and reviewed quarterly.
As previously announced, Equity Story recently appointed a new Chairman, Mr. Ross Landles, and entered a new licencing partnership. Equity Story sees the collaboration with Capital Haus as another substantive step in its growth and expansion strategy.
Brendan Gow, Founder G Managing Director of Capital Haus, commented:
"Capital Haus is delighted to become a strategic investor in Equity Story. The Company’s growth opportunities, innovative approach to investor education, and expanding wealth management services align perfectly with our philosophy of delivering high-quality, tailored financial solutions. Our shared commitment to enhancing investor access to high-quality financial tools and opportunities will drive long-term value for our clients and shareholders. I am excited to join the Board and contribute to the next chapter of Equity Story’s success."
Capital Haus will be issued with 19,230,770 shares voluntary escrowed for 12 months from issue for the consideration of $500,000.02, utilising the Company’s placement capacity under ASX Listing Rule 7.1 (5,341,075 shares) and 7.1A (13,889,695 shares), together with 12,820,513 options with an exercise price of 5 cents, expiring on 19 December 2026. The options are subject to shareholder approval and the shares are expected to be issued on Monday, 3 March 2025. Funds from the placement will be used to expand the Company’s wealth management service offering and general working capital.
Click here for the full ASX Release
This article includes content from Equity Story Group Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
11 September
A Guide to DeFi: Understanding Decentralized Finance
Decentralized finance (DeFi) is a revolutionary shift in the financial landscape, offering a blockchain-based system that facilitates transactions without relying on traditional intermediaries like banks or brokerages.
While the DeFi sector experienced a challenging period through 2022 and early 2023, the latter half of 2023 saw a significant resurgence. This growth was largely fueled by the anticipation and eventual approval of spot crypto exchange-traded funds (ETFs) in the US, signaling a pivotal moment for digital assets.
These moves were a major step toward blending digital assets with traditional financial products, a transition that has been further driven by the increasing maturation and institutionalization of the crypto ecosystem.
This is evident in the development of other products and services, such as:
- Tokenization
- Liquid staking
- Derivatives and futures
DeFi has now moved beyond retail users, integrating further with traditional finance as institutions begin to incorporate DeFi protocols into their operations. The DeFi world moves at an exceptionally fast pace, with new technologies and platforms constantly emerging, making it a complex and confusing space for investors to navigate.
This guide explains how these key technologies and others are shaping the evolving DeFi landscape.
What are decentralized exchanges?
Decentralized exchanges, known as DEXs, facilitate the direct trading of cryptocurrencies between users through smart contracts, eliminating the need for a central authority.
These platforms allow users to maintain control of their assets throughout the trading process. A few popular DEXs include Uniswap, PancakeSwap and dYdX.
What is DeFi asset management?
DeFi asset management services aim to make investing simpler and more accessible.
They often use automated strategies to maximize yield without the need for constant monitoring. Some examples include Galaxy Asset Management and Maple Finance.
These systems are non-custodial, meaning users don't have to give up their private keys or transfer their funds. An example is Yearn Finance, which automates yield-farming strategies to optimize returns.
What are yield farming and staking?
Yield farming allows users to earn rewards by providing liquidity to a protocol. This is done by depositing cryptocurrencies into a liquidity pool; in return, the user receives a portion of the trading fees.
Staking involves locking up assets to help secure and run a blockchain in exchange for rewards.
Liquid staking is a newer technology where users stake their crypto, but receive a liquid staking token (LST) in return that can be used elsewhere in DeFi while their original assets are locked. Liquid Collective's Liquid Staked SOL (LsSOL) on the Solana network is an example of this. Another is JitoSOL, an LST by Jito Network.
Asset manager VanEck has filed an S-1 registration with the SEC to launch an ETF tracking JitoSOL.
Alongside DeFi-native staking options, centralized exchanges like Kraken make staking easy for users who want a simple, custodial experience, and they increasingly offer access to LSTs and expanded staking products.
How do DeFi lending and borrowing protocols work?
Lending and borrowing platforms enable users to lend their crypto assets and earn interest, or borrow assets by providing collateral. Unlike traditional loans, DeFi lending protocols often require borrowers to over-collateralize their loans. Interest rates are typically set by the supply and demand on the platform through an algorithm.
Examples of lending platforms include Aave, Compound and MakerDAO.
Aave is available on multiple blockchains, including Ethereum, Avalanche and Aptos, making it one of the most accessible and innovative lending protocols in DeFi today.
What is DeFi infrastructure?
The DeFi space includes firms that provide the foundational technology and tools for building and using DeFi.
Circle, the issuer of the USDC stablecoin, is partnering with Fireblocks to launch a new blockchain called Arc, which is tailored for businesses and optimized for stablecoins. Meanwhile, Coinbase Global (NASDAQ:COIN), a major crypto exchange, has launched a new app called Base, which combines a crypto wallet, trading, payments and social media. Coinbase also plans to launch nano perpetual futures for SOL and XRP in the US.
To boost its stablecoin payment services, Ripple plans to acquire a stablecoin payments platform called Rail.
What are stablecoins?
Stablecoins are cryptocurrencies designed to minimize price volatility by pegging their value to a stable asset, like the US dollar. There are different types of stablecoins, including:
- Fiat-collateralized stablecoins, which are backed by reserves held in traditional currencies.
- Crypto-collateralized stablecoins, which are backed by other cryptocurrencies.
- Algorithmic stablecoins, which use algorithms to maintain their peg without direct collateral.
Examples include Tether (USDT), Circle Internet Group's (NYSE:CRCL) USD Coin (USDC) and Dai (DAI). Coinbase, Kraken and Gemini are well-known platforms for trading stablecoins and other cryptocurrencies.
Additionally, MetaMask, a self-custodial crypto wallet, is set to launch its own stablecoin, MetaMask USD (mUSD), which will be issued by Bridge and powered by M0 liquidity.
What is tokenization?
DeFi platforms translate real-world assets, such as real estate or stocks, into digital tokens on a blockchain. This makes these assets accessible on-chain, effectively bridging traditional finance and DeFi.
There are several companies and platforms at the forefront of this trend.
JPMorgan Chase (NYSE:JPM) has a tokenized debt platform, Kinexys, that allows clients to trade and settle tokenized debt instruments, a service that State Street has also joined.
Additionally, Backed Finance recently partnered with Kraken to expand its xStocks product, which tokenizes stocks, to the Tron blockchain. Meanwhile, S&P Dow Jones Indices is reportedly in talks to license and list tokenized versions of its benchmarks with exchanges, custodians and DeFi protocols.
Ethereum and Solana have a major role in the tokenization movement too.
Ethereum is favored by institutions for its smart contracts. DBS Group Holdings (SGX:D05), a major financial institution, recently announced plans to launch tokenized structured notes on the Ethereum blockchain, while eToro Group (NASDAQ:ETOR) has plans to launch tokenized versions of US-listed stocks on the same network.
For its part, Solana was recently selected by Galaxy Digital (NASDAQ:GLXY) and Superstate for the launch of GLXY, a tokenized public share.
What are blockchain oracles?
These services connect smart contracts to real-world data, enabling them to execute based on off-chain information. Chainlink is one prominent blockchain oracle. Recently, it partnered with Intercontinental Exchange to bring foreign exchange and precious metals data on-chain. Chainlink also has its own on-chain treasury vehicle, Chainlink Reserve, which can support staking rewards and development funding.
What are perpetual futures?
Perpetual futures, known as perps, are derivatives contracts that allow traders to speculate on the price of an asset without an expiration date. They are a high-risk financial instrument that uses leverage to amplify gains or losses.
Coinbase has a derivatives arm, Coinbase Financial Markets, that launched US perps on July 21, 2025. On September 22, Coinbase Derivatives will expand its product suite with the launch of equity index futures.
Coinbase acquired Deribit, the largest platform for trading Bitcoin options and the world’s leading crypto options exchange by volume and open interest, in a US$2.9 billion deal in May 2025.
Kraken also offers US-compliant perps.
Investor takeaway
As DeFi continues to mature and attract interest from traditional financial institutions, its integration with conventional finance is accelerating. With ongoing advancements, DeFi is set to redefine how financial transactions are conducted, making it a pivotal area to watch in the future of finance.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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17 July
Digital Finance Fuels Record Savings Growth in Developing Nations: World Bank
Formal saving in developing economies surged to its highest level in more than a decade in 2024, powered largely by the widespread use of mobile phones and digital financial tools, the World Bank said in its new Global Findex 2025 report.
For the first time, 40 percent of adults in low- and middle-income countries reported saving money through a bank or other financial institution—marking a 16-percentage-point increase since 2021 and the sharpest three-year rise since the Findex survey began.
Mobile-money services played an outsized role: 10 percent of adults in these economies used mobile accounts to save, up from 5 percent just three years prior.
"This is real progress," said Bill Gates, chair of the Bill & Melinda Gates Foundation, which supports the survey. "More people than ever have the financial tools to invest in their futures and build economic resilience, including women and others previously left behind."
The data points to a broader trend: digital access is quickly becoming the defining factor in who gets to participate in formal financial systems. While nearly 80 percent of the world’s adults now have a financial account, 1.3 billion people still do not—and most of them live in countries where mobile-phone penetration is already high.
According to the report, around 900 million adults without financial accounts do own mobile phones, and more than half of those have smartphones.
“Financial inclusion has the potential to improve lives and transform entire economies,” said World Bank Group President Ajay Banga. “Digital finance can convert this potential into reality, but several ingredients need to be in place.”
Banga cited the Bank’s work supporting digital identification systems, social protection programs with direct cash transfers, and efforts to modernize national payment infrastructure. “We’re helping to remove regulatory roadblocks—so that people and businesses have the financing they need to innovate and create jobs,” he said.
The Findex also recorded an increase in digital merchant payments. In 2024, 42 percent of adults in developing economies made at least one in-store or online purchase using a card or mobile phone—up from 35 percent in 2021.
Among adults receiving wages or government payments, a growing majority are being paid directly into accounts, a shift that has been shown to reduce leakage and fraud.
At the same time, the rise in digital finance has exposed new gaps in consumer protection and digital literacy. Although 4 billion adults in low- and middle-income countries own mobile phones, only about half use passwords or other basic security tools. This leaves hundreds of millions vulnerable to scams, account theft, or misuse of their data.
For the first time, the report incorporated data on personal device ownership and internet use through a new Digital Connectivity Tracker. It found that 86 percent of adults globally now own a mobile phone, including 68 percent with smartphones.
These figures are even higher in some regions: mobile-phone ownership tops 94 percent in Europe and Central Asia, and smartphone use is highest in East Asia and the Pacific, where 86 percent of adults own one.
Sub-Saharan Africa showed the largest gains in mobile-money use, with 35 percent of adults now saving formally—up 12 percentage points since 2021. Meanwhile, women in low- and middle-income countries have made notable strides in account ownership, closing much of the gender gap: 73 percent now have accounts, compared with just 37 percent in 2011.
Still, challenges persist. In the Middle East and North Africa, only 53 percent of adults have an account, and formal saving remains low at 17 percent. In Latin America and the Caribbean, 70 percent have accounts, but usage patterns vary widely by country and income level.
Gates underscored the stakes: “The case for investing in inclusive financial systems, digital public infrastructure, and connectivity is clear—it’s a proven path to unlocking opportunity for everyone.”
The Global Findex, compiled every three years since 2011, remains the world’s most comprehensive database on how adults access, use, and trust financial services. The 2025 edition surveyed over 130,000 people in more than 120 countries.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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28 May
Fintech Firm Velocity Raises US$10 Million for Enterprise Stablecoin Infrastructure
In what is believed to be the largest European pre-seed funding round of the year, UK fintech startup Velocity has emerged with US$10 million in early backing to develop a stablecoin infrastructure platform.
The initiative is aimed squarely at large enterprises grappling with outdated cross-border financial systems.
The round, led by US-based Activant Capital, brings together global investors and fintech insiders, underscoring growing confidence in stablecoins as a practical tool for enterprise-grade settlement — not just crypto speculation.
Founded by payments veterans Tom Greenwood (Volt, IFX) and Eric Queathem (Worldpay, McKinsey & Company), Velocity aims to modernize the back-end plumbing of global money movement.
Rather than displacing traditional finance, the startup sees itself as a connective layer between banks and the blockchain, offering modular infrastructure that enables businesses to operate seamlessly across fiat and digital currencies.
“We’re not chasing crypto hype,” Greenwood, who serves as CEO, said in a statement. “We’re leveraging stablecoins to remove friction, accelerate settlement, and drive improved performance in real-world financial operations.”
That friction remains a massive challenge in today’s corporate finance landscape.
Large businesses routinely rely on patchwork systems for international payments, liquidity and currency management — often involving multiple banking partners, outdated software and opaque fees.
Velocity says it is addressing that complexity with a programmable, artificial intelligence-enabled platform that integrates stablecoins into traditional financial operations without requiring companies to overhaul their existing systems.
Greenwood and Queathem bring decades of experience to the table. Greenwood previously founded Volt, a fintech firm focused on real-time payments, and IFX, a foreign exchange and payments firm. Queathem spent nearly 10 years at Worldpay, where he led global strategy during its expansion into both legacy and crypto-enabled markets.
“We’ve experienced first-hand the financial complexity of operating a global business — the fragmentation of providers, the lack of transparency, and the workarounds,” said Queathem, who holds the position of president.
“Velocity is built to eliminate that friction with infrastructure that scales, adapts, and solves the real-world problems large enterprises face every day when moving and managing money around the world.”
Their pitch appears to have resonated with investors who see a broader shift underway. Fuel Ventures (LSE:FVV), Triton Capital, Fabric Ventures, Commerce Ventures and Preface Ventures all joined the round, alongside strategic angels from companies like Visa (NYSE:V), PayPal (NASDAQ:PYPL), Circle and Alphabet (NASDAQ:GOOGL).
For lead investor Activant Capital, the startup's timing aligns with what it sees as a generational opportunity to reshape how capital flows. “Tom and Eric bring the rare technical depth and regulatory fluency needed to build and scale a product like this,” said Andrew Steele, partner at Activant, in Wednesday's (May 28) release.
“We’ve shared this vision for years — and now is the time to bring it to life.”
Far from being a headwind, Velocity sees that regulatory movement as validation that the infrastructure moment for stablecoins has arrived. While Velocity hasn't disclosed specific clients or product launch dates, early pilot programs are underway, with large enterprises exploring digital treasury functions and cross-border liquidity optimization.
Don’t forget to follow us @INN_Technology for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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09 January
Top 5 NASDAQ Fintech Stocks (Updated January 2025)
Fintech, or financial technology, has become an integral part of everyday life, and many US fintech stocks are seeing success.
Firms like Boston Consulting Group and Silicon Valley Bank are projecting growth in the market, and since the fintech umbrella covers such a wide range of companies, diverse businesses can profit as the industry develops.
Read on for a look at the NASDAQ's best-performing fintech stocks of the year. Data was gathered using TradingView's stock screener on January 8, 2025, and companies with market caps of at least US$50 million were considered.
1. Sezzle (NASDAQ:SEZL)
Year-over-year gain: 1,241.19 percent
Market cap: US$1.39 billion
Share price: US$248.12
Sezzle is a buy now-pay later (BNPL) fintech company that launched in 2016. Its digital payment platform provides an alternative for millions of consumers with limited access to traditional credit.
Sezzle offers a full-suite of interest-free installment plans at online stores and select in-store locations across the US, Canada and Australia. It is the only BNPL platform in North America to offer credit reporting optionality through its Sezzle Up program, allowing users to build credit.
As of September 2024, Sezzle had an estimated 529,000 active subscribers. Since its inception it has generated US$8.1 billion in underlying merchant sales, and 15 million completed sign ups. The company achieved its first quarter of profitability in November 2022.
Sezzle’s stock increased in value gradually in the first half of 2024 to reach over US$78 per share in early August. After the company released its positive Q2 2024 financials, its share price shot up to US$106.50 on August 8. The report showed that total revenue (less transaction related costs) reached a record high for the quarter, up 71.7 percent year-over-year to US$32.2 million.
The company’s share price continued to climb, hitting US$170.59 by the end of the third quarter. After releasing its stellar Q3 2024 financial report on November 7, which showed total revenue growth up 71.3 percent year-over-year, its stock value skyrocketed from US$250.47 to US$431.48 in one day.
Shares in Sezzle reached their yearly peak of US$464 on November 25, before pulling back to the US$260 range by the end of the year following a critical short report released by Hindenburg Research on December 18.
2. Dave (NASDAQ:DAVE)
Year-over-year gain: 859.06 percent
Market cap: US$1.09 billion
Share price: US$85.26
Dave is a US-based neobank and a pioneer in the fintech space. The company offers digital banking services through its mobile banking app, launched in 2017. Its offerings include the Dave Debit Card through a license from Mastercard, and its ExtraCash cash advance program. Dave partners with Evolve Bank & Trust, an FDIC member.
Dave’s share price has benefited greatly over the past year from the company’s record-setting growth quarter after quarter. In May 2024, its Q1 2024 financial report highlighted record revenue of US$73.6 million, up 25 percent year-over-year. The company’s share price jumped over 12 percent in one day to US$52.30 on May 7.
But it was the company’s Q3 2024 financial report that really rallied the stock. Dave saw its revenues for the quarter rise by 41 percent year-over-year to US$92.5 million, the company’s fourth consecutive quarter of year-over-year revenue growth. In response, the value of the fintech stock surged from US$62.80 to US$90.43 per share. Shares in Dave hit their yearly peak of US$103.96 on December 17.
3. Root (NASDAQ:ROOT)
Year-over-year gain: 600 percent
Market cap: US$1.17 billion
Share price: US$77.42
Founded in 2015, Root is the parent company of Root Insurance Company, which through the Root app brings data science and technology to the auto insurance market. Currently operating in 34 states, it is the largest insurtech company in the United States.
Like the other tech stocks on this list, Root’s share price over the past year has been driven in large part by its excellent quarterly financial performance. After posting its Q4 2023 financials, which included the best bottom-line quarterly results in the company’s history, Root’s share price grew by more than 350 percent from February 21 to US$39.11 on March 1, 2024. The following month, Root’s stock value had more than doubled to US$82.90 on April 5.
The company’s Q3 2024 financials report was also a significant catalyst for the stock. Root achieved net income profitability for the first time in its history on both a quarter-to-date and year-to-date basis. Shares in Root grew by nearly 69 percent from US$40.49 on October 30 to US$68.39 on October 31. The stock reached its yearly peak of US$109.40 on November 21.
4. Robinhood Markets (NASDAQ:HOOD)
Year-over-year gain: 233.14 percent
Market cap: US$36.08 billion
Share price: US$40.81
Robinhood Markets is a California-based fintech company that offers commission-free stock trading and emphasizes “democratizing access to the markets for millions of investors.” On its digital platform, users can trade stocks, options, commodity interests and crypto. In June, the company said it will acquire global cryptocurrency exchange Bitstamp.
Robinhood’s stock had its best quarter of 2024 in Q4. On October 30, the company released its Q3 2024 financials, highlighting its second highest revenues on record (up 36 percent year-over-year to US$637 million). Additionally, its year-to-date net deposits of US$34 billion and year-to-date revenues of US$1.94 billion were both higher than any prior full year period.
In its October 2024 operating data report released on November 11, Robinhood reported funded customers at the end of October were 24.4 million, which was up over 1 million year-over-year. Additionally, assets under custody totaled US$159.7 billion, up 5 percent from September 2024 and up 89 percent year-over-year. The following month, the company reported its November 2024 operating data, which showed funded customers had grown to 24.8 million and assets under custody hit US$195 billion.
Shares in Robinhood grew by more than 66 percent over the fourth quarter to US$37.26 on December 31, 2024. The company’s highest yearly peak came on December 16 at US$43.20.
5. Priority Technology Holdings (NASDAQ:PRTH)
Year-over-year gain: 215.79 percent
Market cap: US$880.06 million
Share price: US$11.40
Priority Technology Holdings is a payments and banking fintech firm that provides services to more than 1.1 million active customers spanning small to medium businesses, business to business and enterprises. Its platform allows for the collecting, storing, lending and sending of money.
Priority is another fintech stock on this list that had a great fourth quarter in 2024. Shares in the company rose 88 percent over the period to reach US$11.75 per share on December 31.
In its Q3 2024 financials, Priority's reported revenues were up 20.1 percent year-over-year to US$227 million. Adjusted gross profit grew by 18.9 percent to US$86 million over the same period, and its operating income rose 62 percent to US$38.1 million.
Priority’s stock value reached its highest yearly peak of US$12.29 on January 3, 2025.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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25 December 2023
Top 5 NASDAQ Fintech Stocks (Updated December 2023)
Fintech, or financial technology, has become an integral part of everyday life.
Firms like Fitch Ratings and McKinsey & Company are projecting continued growth in the market, and since the fintech umbrella covers such a wide range of companies, diverse businesses could profit as the industry develops.
Read on for a look at the top-performing NASDAQ fintech stocks of the year. Data was gathered using TradingView's stock screener on December 20, 2023, and companies with market caps of at least US$50 million were considered.
1. Opendoor Technologies (NASDAQ:OPEN)
Year-to-date gain: 242.8 percent; market cap: US$2.69 billion; current share price: US$4.01
The top-performing NASDAQ-listed fintech stock this past year was Opendoor Technologies. First launched in 2014, Opendoor is a leading e-commerce platform for residential real estate transactions.
Rising interest rates have not been kind to the real estate market, and this was reflected in the company's quarterly financial reports for much of the year. However, there are signs that the US Federal Reserve will soon cut rates, which could bring fresh life to the real estate sector. This optimism has helped buoy Opendoor's share price.
After starting out the year at under US$1, shares of the company rose to a year-to-date high of US$5.41 on August 1. They fell back to the US$2 level in the fall, but Opendoor shares are trending upward as the year comes to a close.
2. Upstart (NASDAQ:UPST)
Year-to-date gain: 223.64 percent; market cap: US$3.71 billion; current share price: US$43.63
Upstart uses machine learning and artificial intelligence to reduce lending risk and costs for its bank partners, while providing applicants with access to affordable credit. It provides personal loans, car loans and debt consolidation.
Upstart's new partners for 2023 are numerous, and include the Bank of Denver, as well as several federal credit unions, such as CorePlus, Texas Bay, Arbor Financial and Farmers Insurance. The company has also partnered with auto dealers Acura and Mercedes-Benz Group (OTC Pink:MBGAF,ETR:MBG).
Shares of Upstart rose from a year-to-date low of US$11.93 on May 3 to a high of US$72.58 on August 1.
In its Q2 report, released in early August, Upstart co-founder and CEO Dave Girouard said, "As a result of our efforts over the past year to improve efficiency and operating leverage in our business, we achieved record-high contribution margin and positive cash flow in Q2." Highlights from the company's Q3 report, released in early November, include positive EBITDA for the second straight quarter with contribution margins near record highs.
3. Inter & Co. (NASDAQ:INTR)
Year-to-date gain: 139.86 percent; market cap: US$2.134 billion; current share price: US$5.31
Next on this list of the top NASDAQ fintech stocks is Brazilian digital bank Inter & Co., which through its Super App provides financial and digital commerce services to more than 29 million customers. The app offers banking, investment, credit, insurance and cross-border services, and provides access to a marketplace of retailers in Brazil and the US.
The company released its Q1 report in early May, showing total gross revenues were up 6 percent quarter-on-quarter and were 41 percent higher year-on-year. In its Q2 report, released in mid-August, Inter put up another 33 percent year-on-year increase for total gross revenues, and achieved a number of major profitability milestones.
Published in November, Inter's Q3 report continued this positive momentum for the company. "Quarter after quarter, we are showing that we have created a virtuous cycle: the more value we offer to clients, the more they reward us with their business across our diversified banking platform," commented CEO João Vitor Menin. "As our scale and profitability grows, we are empowered to continue innovating, and the cycle starts anew."
Shares of Inter rose from a low of US$1.37 on March 23 to a year-to-date high of US$5.95 on November 21.
4. Root (NASDAQ:ROOT)
Year-to-date gain: 139.5 percent; market cap: US$152.716 million; current share price: US$10.46
Founded in South Africa in 2016, cloud-native end-to-end insurance platform Root gives organizations the ability to build, sell and manage digital insurance products through easy-to-use APIs. The company has plans to expand into the UK and Europe.
“Root Insurance is like cloud services for the insurance industry,” Root CEO Louw Hopley has explained. “It gives software developers all the building blocks they need to create and launch a fully compliant insurance product in a matter of days. The platform not only reduces costs and time to market drastically, it also takes care of administering the insurance policies – everything from issuing policies to collecting premiums and handling claims.”
Root's share price hit its highest point for the year on June 22, reaching US$14.80.
5. Jiayin Group (NASDAQ:JFIN)
Year-to-date gain: 130.44 percent; market cap: US$285.604 billion; current share price: US$5.26
Last on this list of the year's top-gaining NASDAQ fintech stocks is Jiayin Group, a leading fintech company in China that uses big data analytics to assess the risk profiles of borrowers.
In its Q1 report, the company posted a 119.5 percent increase to its net revenues compared to the same period the previous year. In the second quarter, its net revenues saw a 57.4 percent increase over the same quarter in 2022, while the third quarter brought a 64 percent year-on-year increase in Jiayin's net revenues.
"These results once again prove that our development path is healthy and sustainable, and our strategy is precise and practical," noted Yan Dinggui, the company’s founder, director and CEO. "We are confident and capable of continuously creating value for our investors and growing into a significant player in the global fin-tech industry.”
Shares of Jiayin hit a year-to-date high of US$8.19 on June 5.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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21 December 2022
Top 5 NASDAQ Fintech Stocks (Updated December 2022)
Fintech, or financial technology, has become an integral part of everyday life.
Firms like Fitch Ratings and Allied Market Research are projecting continued growth in the market moving forward, and since the fintech umbrella covers such a wide range of companies, diverse businesses could profit as the industry develops.
Read on for a look at the top-performing NASDAQ fintech stocks of the year. Data was gathered using TradingView's stock screener on December 12, 2022, and companies with market caps of at least US$50 million at that time were considered.
1. SurgePays (NASDAQ:SURG)
Year-to-date gain: 261.5 percent; market cap: US$90.66 million; current share price: US$7.33
Technology and telecommunications firm Surgepays provides fintech services with its blockchain-based platform that features a suite of financial and prepaid products. The company provides mobile broadband to low-income consumers across the US.
In November, SurgePays posted its financials for the third quarter, highlighting revenues of US$36.2 million, an increase of 149 percent compared to the same period in 2021. The company also surpassed its 2022 year-end goal of 200,000 mobile broadband subscribers. Later that month, SurgePays closed on a US$25 million senior secured credit facility, saying it received about US$15 million at closing. Shares of SurgePays reached their peak for the year on December 5 at US$7.61.
2. PaySign (NASDAQ:PAYS)
Year-to-date gain: 70.81 percent; market cap: US$141.07 million; current share price: US$2.72
PaySign is a leading provider of prepaid card programs, comprehensive patient affordability offerings, digital banking services and integrated payment processing. Through its platform, the company provides services such as transaction processing, cardholder enrolment, value loading, cardholder account management, reporting and customer service.
PaySign's share price hit its highest level this year on August 29, coming to US$3.27. The price bump came after the company shared its Q2 financial results, including total revenues of US$8.6 million, an increase of 29 percent year-on-year. The company continued this positive streak in Q3 with revenues of US$10.6 million, a rise of 36.4 percent year-on-year.
3. Futu Holdings (NASDAQ:FUTU)
Year-to-date gain: 49.36 percent; market cap: US$10.03 billion; current share price: US$65.39
Futu Holdings offers a fully digitalized brokerage and wealth management platform for investors. The company's proprietary digital platforms, Futubull and moomoo, provide investing services that are accessible via any mobile device, tablet or desktop. Futu's main fee-generating services include trade execution, margin financing and securities lending. Using these services, investors can trade securities such as stocks, exchange-traded funds, warrants, options and futures across a variety of markets.
Futu shared its Q3 financials in November, featuring a 12.4 percent year-on-year increase to total revenues, which came in at US$247.9 million. The company also saw its total number of paying clients increase by 23.8 percent year-on-year to reach 1,444,955 as of September 30. Shares of Futu Holdings reached a 2022 high point of US$65.39 on December 12.
4. CPI Card Group (NASDAQ:PMTS)
Year-to-date gain: 45.37 percent; market cap: US$310.71 million; current share price: US$28.15
With customers located across the US, CPI Card Group provides its user base with both physical and digital payment solutions, including credit, debit and prepaid options. The company's third quarter results show that its net income rose 80 percent year-on-year to reach US$12 million, while net sales rose 25 percent to hit US$124.6 million. CPI said its financial results are reflective of the strong demand for its differentiated payment solutions offerings.
Shares of CPI reached their peak for the year on December 8 at US$29.78.
5. MoneyGram International (NASDAQ:MGI)
Year-to-date gain: 37.35 percent; market cap: US$1.06 billion; current share price: US$10.92
MoneyGram International is a global leader in digital cross-border P2P payments, money transfers and blockchain-enabled settlements. The company's API-driven platform allows customers to transfer money online through bank accounts and mobile wallets, as well as in brick-and-mortar locations. MoneyGram's fintech offerings include the MoneyGram money transfer app.
For Q3, MoneyGram reported total revenues of US$330.8 million, an increase of just 3.5 percent year-on-year. The company attributed the low growth to strength in the US dollar against other major currencies. However, on a constant currency basis, total revenues for the company increased by 9 percent year-on-year. MoneyGram shares hit a 2022 high point of US$10.96 on December 6.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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