Thorney Group

🇦🇺 This Week in Australian Startups #180, 4th October 2026

Weekly roundup reporting Australian startup funding rounds and government grants, a venture fund close, agreed acquisitions, an IPO pricing, a collapse, plus executive hires and AI policy developments.

Tinybeans says Qeepsake deal drove 80% subscriber jump, sets up more M&A

Results story: Tinybeans' completed Qeepsake acquisition lifted subscribers about 80% and drove positive EBITDA, Qeepsake's former CEO now leads Tinybeans, and further acquisitions are flagged.

Micro-X secures A$8M convertible note as new CEO steers reset toward medical CT

Micro-X has lined up A$8 million through convertible notes to advance Head CT work and the Rover launch, while installing Dr Brian Gonzales as CEO in place of departing Kingsley Hall and cutting costs.

Four ANZ startups that raised $52.1 million this week

Funding roundup covering four raises: Pay.com.au's $25 million round plus a $28 million secondary, Ruminant Biotech's Series A, Australis Scientific's Rohto-backed funding, and Paperly's $3 million round led by Tribe Global Ventures.

Also Startup Daily·Startup News (WA)

Pay.com.au hits $633 million valuation after $25 million raise

Melbourne fintech pay.com.au has banked $25 million for a US push, Morgans Corporate leading, with Wilson Asset Management, Thorney Group and Ophir participating, at a pre-money valuation of $633 million.

Smart50 success Pay.com.au raises $25 million, valuation soars to $633 million

Payment rewards platform Pay.com.au has raised $25 million led by Morgans Corporate, with $28 million of existing shares also sold, valuing the company at $633 million as it pushes into America.

Also Startup Daily·SmartCompany·Startup Daily·SmartCompany·SmartCompany·Startup Daily·SmartCompany·Dealroom·Fintech News Australia

Metigy founder pleads guilty to misleading investors as ASIC case progresses

Metigy co-founder David Fairfull has admitted in court to deceiving investors and misusing his director role, after the marketing software startup's raises were built on fabricated figures before its 2022 collapse.

Metigy founder David Faithful pleads guilty to misleading investors and dishonesty over his AI adtech startup

The co-founder and ex-CEO of collapsed marketing software firm Metigy has admitted to deceiving investors and misusing his director role in a corporate regulator prosecution.

Also SmartCompany

Southern Cross chair says ‘strong support’ for Seven deal amid fallout

Southern Cross Media's chairman defends its proposed all-scrip merger with Seven West Media, saying major shareholders back it, while Sandon Capital's Radzyminski moves to block the share issue and rivals circle.

Fintech Superhero's valuation jumps nearly 20% in 3 months after $11 million raise

Share trading and super platform Superhero has raised $11 million from existing backers, lifting its post-money value to $150 million, with plans to build tools that give investment advice.

Also SmartCompany

Four Aussie startups that raised $28 million this week

Weekly roundup of four Australian startup raises: Kismet's $20m seed extension, Primary's $3.5m seed round, Willed's $3m from Seven West Media, and East Forged's $1.5m from a Vietnamese agribusiness's venture arm.

Investor Alex Waislitz comes to Dubber's rescue with $5 million loan as hunt for missing millions continues

ASX-listed Dubber takes a $5 million bridging loan from Alex Waislitz's Thorney vehicle Tiga Trading after $26.6 million went missing, while an equity raise is planned and ASIC investigates.

Also Startup Daily

ASX-listed Earlypay to acquire Melbourne fintech Timelio for $3 million – a quarter of the $12.5m investors poured into it

Earlypay, an ASX-listed lender, is buying Timelio, a Melbourne invoice and trade finance provider, for $3 million — a fraction of what its shareholders previously invested.

Legal disputes startup Immediation placed in voluntary administration after raising $19 million in six years

Dispute resolution tech company Immediation entered voluntary administration, with FTI Consulting appointed and seeking recapitalisation or asset sale bids; the article recounts its funding history and leadership turmoil.

BNPL vendor Splitit moves to go private in exchange for fresh funds

Splitit announced $60 million in committed investment from Motive Partners, Thorney and Parea Capital, tied to conditions including leaving the ASX; the piece recalls the payments firm's 2019 listing.

Six Aussie startups that raised $45.1 million this week

Weekly roundup of six Australian startups raising a combined $45.1 million across energy, e-commerce, design software, cloud security, climate tech and insurtech, plus Awayco's acquisition of Barcode Solutions and nVest winning SmartCompany's Pitch.

Also SmartCompany·LaunchVic

Alex Waislitz’s Thorney Investment Group leads $11 million raise for ecommerce site

Alex Waislitz's Thorney vehicle steered an $11 million round into Awayco, which also bought Sydney point-of-sale firm Barcode Solutions; its chief Shanti Kumar now heads POSConnex, while founder Gideon Gut-Silverman keeps directing growth.

Also SmartCompany

Seven backs real estate media baron Antony Catalano in $100 million proptech play

Seven West Media's venture arm joins Antony Catalano and Alex Waislitz in backing their proptech consortium View Media Group, with cash, capital and media services pushing the package past $100 million; the piece also recalls earlier property media deals.

Founders depart fintech Timelio as it raises $7.5 million

Invoice-financing firm Timelio's founding couple have stepped down as a shareholder rights issue raised $7.5 million, with a new chief executive appointed; the piece also recalls earlier backing and a bank unit purchase.

Also Australian FinTech·Techboard·Startup Daily

Digital marketing startup Metigy placed in administration with the loss of 75 jobs

Adtech startup Metigy has entered administration with Cathro & Partners appointed and 75 jobs lost, 20 months after a $20 million Series B; proptech Yabonza also entered administration last week.

Also SmartCompany·Startup Daily·Startup Daily·Startup Daily·Startup Daily·SmartCompany·Startup Daily

Funeral disruptor defies deadly market conditions to bank $10m

Republished AFR report on funeral startup Bare banking a ten-million-dollar round from Perennial and Ord Minnett, plus rival Willed's June raise from Thorney, Ellerston and a Bell Potter investor.

Also OIF Ventures portfolio·Archangel Ventures portfolio·SmartCompany·Startup Daily·Techboard·SmartCompany·Startup Daily·SmartCompany·Startup Daily·Startup Daily·SmartCompany·Startup Daily·SmartCompany

Mosh raises $25 million to break down taboos in men's healthcare

Australian men's health startup Mosh has secured $25 million in fresh capital from Hims co-founder Joe Spector, Washington H. Soul Pattinson and Regal Funds Management, with existing backers Parc Capital and Thorney also participating.

Also Startup Daily

BNPL newcomer Applypay lands Hudson as marquee client

Recruitment tech firm Applyflow has signed Hudson as the first major client of its Applypay instalment product for recruitment fees, and separately disclosed a recent $5.7 million capital raise from institutional investors.

Dispute resolution platform Immediation raises $3.6M AUD to expand in the US

Melbourne dispute-resolution software maker Immediation raised AUD 3.6 million from Thorney Investment Group and Alex Waislitz to grow in the US and Europe, and named a new chair plus board and advisory appointments.

Also Startup Daily·Cut Through Venture·Startup Daily

Packform raises $25 million as COVID-19 drives demand for deals on packaging

Packform, an Australian packaging marketplace, raised $25 million from institutional investors at a $150 million valuation, with an IPO planned within six months as it prepares to expand internationally.

Also SmartCompany·Startup Daily

Solar battery network startup RedEarth raises $12 million as it looks to ASX listing

Queensland battery maker RedEarth Energy Storage has raised $12 million ahead of a planned 2022 sharemarket float, with Ord Minnett Private Opportunities leading and Perennial Value and Thorney among the backers.

Also @AuManufacturing·RenewEconomy·Dragonfly Enviro Capital·SmartCompany

Venue management startup Ivvy raised $7 million in pre-IPO round

Event and venue management software company Ivvy has raised A$7 million ahead of a planned ASX listing, led by Thorney Investment Group with Gandel Invest, with founder Lauren Hall saying funds will drive US and European expansion.

Ignition Lane’s Weekly Wrap: VC’s $1.6bn year, Christmas collapses, Bassat’s bitcoin bet

Weekly newsletter rounds up venture news: multiple Australian and regional VC fund closes, startup raises including Brighte and Judo, acquisitions of eNett and Sine, neobank collapses, and new revenue-based lenders.

Also Startup Daily·Startup Daily·SmartCompany·Startup Daily·SmartCompany·SmartCompany·Startup Daily·Australian FinTech·Australian FinTech·TechCrunch Venture

Metigy gets $20 million AUD to make online marketing easier for SMEs

Marketing automation platform Metigy has raised a A$20 million Series B led by returning backer Cygnet Capital, with Regal, OC Funds, Five V and Thorney participating, to grow its SME customer base internationally.

Also Startup Daily·SmartCompany·Startup Daily·Startup Daily·Startup Daily·Startup Daily·SmartCompany·Startup Daily