Big retailers offer small equity stakes to shoppers
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Woolworths, Kogan and Marley Spoon are among the ASX-listed retailers issuing fractional shares to consumers as loyalty rewards in a micro-investing scheme encouraging the next generation of Australian shareholders.
Fintech start-up Upstreet has been launched to the public after a two-year pilot program, with an app that allows shoppers to receive up to 8 per cent of their transaction value back in the form of fractional shares in the company they purchased from.
Meal-kit provider Marley Spoon has seen an uptick in sales from its trial with fintech Upstreet.
For every transaction an Upstreet app user makes in meal kits retailer Marley Spoon, for example, they will earn 2 per cent of the value in shares in the company as well as $45 worth of fractional equities as a sign-up bonus.
March 17, 2021
This week, we’ve seen startup funding going into businesses at every end of the spectrum from early-stage and up-an-coming players to global behemoths landing valuations of $100 billion-plus.
QBiotics
Aussie biotech QBiotics is making headway in the fight against cancer, with their product already working on canines so now they’re working on getting it approved for people as well as pups.
The company secured $50 million to fund clinical trials for its cancer therapy treatment.
Co-founded by former CSIRO scientists Dr Victoria Gordon and Dr Paul Reddell, the 21-year-old business has reportedly brought TDM Growth Partners on board as its first institutional investor.