TLDR:
- Early-stage VC Dirk Steller predicts a ‘startup spring’ ahead, particularly in fintech and regtech sectors.
- Funding in Australia is up 6% in Q1 2024, with a mature startup market seeing bigger seed stage investments and a rise in female-founded companies receiving funding.
As we move into the second half of 2024, early-stage VC Dirk Steller is optimistic about the future of startups in Australia, declaring the end of winter and the start of a ‘startup spring.’ Steller highlights the growing interest in areas beyond AI, specifically noting fintech sub-sectors like payments, digital currencies, and supply chain tech as industries experiencing an uptick in investor interest.
The Australian startup market has shown resilience and growth, with 88% of fintech companies now post-revenue and significant increases in funding compared to global averages. Steller also points out the rise of female-founded companies receiving funding and the positive movement in exit and follow-on opportunities for investors.
Steller sees promising opportunities in payments, particularly in areas like rental bond payments, SME employee expense solutions, and financial services for international students. Additionally, he notes the growth potential in digital assets and supply chain technology, with supportive regulatory environments in APAC creating opportunities for fintech companies in Australia.
Overall, Steller is optimistic about the future of the Australian startup ecosystem, emphasizing the potential for growth and innovation in sectors like fintech and regtech. With a ‘startup spring’ on the horizon, Steller’s insights provide valuable perspective on the evolving landscape of Australian entrepreneurship.
