Two of Australia’s most popular fintechs have announced an historic merger that will create the country’s first digital and traditional finance powerhouse.
The partnership between digital asset broker Swyftx and share trading and superannuation platform Superhero will establish an A$1.5 billion financial services giant. The combined group will count over 800,000 customers at completion.
The merged business will become the first in Australia to offer access to both decentralised and traditional finance, supporting trading and investing across cryptocurrencies, equities and superannuation.
The proposed merger represents a significant step for both businesses in terms of their evolution from disruptive tech players into a single, major financial institution that can grow across domestic and international markets.
Alex Harper, co-founder, Swyftx
In July 2021, Superhero released its flagship superannuation offering, Superhero Super, allowing Australians the opportunity to invest their retirement savings in a range of portfolios, including direct ASX-listed shares and ETFs.
We are thrilled to announce this merger and offer our customers the opportunity to invest in traditional and digital assets across a single platform. The Swyftx team has achieved amazing things since launching in 2018 and we can’t wait to join together to offer investors an even better investing experience.
John Winters, co-founder, Superhero
A Closer Look at the Merger
Swyftx grew its investor base by around 1,200 percent last year, and is Australia’s top-rated digital assets exchange – providing access to more than 320 digital currencies and crypto interest-earning features.
Co-founded in 2018 by Alex Harper and Angus Goldman, the business currently has more than 600,000 retail and corporate investors on its platform.
Superhero is an Australian-owned and operated platform that offers its customers access to share in trading and a super fund. On its platform, customers can access more than 2,500 ASX-listed companies and ETFs with A$5 brokerage fees and over 4,500 US stocks and ETFs with US$0 brokerage.
The combined business will support 800,000 investors across New Zealand and Australia, with offices in Brisbane, Sydney, London and Vancouver. Swyftx expanded its bases to New Zealand in August of 2021. The merger is expected to be completed in early FY23, and on completion, Swyftx says it will offer its customers access to:
- one login across both platforms;
- one customer support team; and
- one platform that tracks and manages cryptocurrencies, equities, and superannuation.
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