Sydney fintech hub Stone & Chalk to open up in Melbourne
24 July 2017 | 5762 views | 0
Sydney fintech hub Stone & Chalk is extending its reach into Victoria, with founding CEO of Fintech Victoria, Alan Tsen, at the helm of its new Melbourne-based operations.
Stone & Chalk has won support for the move from a number of prominent corporate anchor partners, including Australian Super, Findex, Genworth, Liberty Financial, and financial giants, ANZ and NAB, all of whom are headquartered in Melbourne.
The new hub, offering 60 available desks for fintech startups, will be housed alongside Agtech experts SproutX, Australia’s national agtech innovation hub, and accelerator.
“Co-locating with SproutX makes absolute sense for both organisations,” says Andrew Lai, SproutX Accelerator director. “The collaboration between Stone & Chalk with SproutX will see a new Agri-Fintech program developed, to explore how new fintech innovation can help solve major issues, and opportunities in the global agricultural sector.
Alan Tsen, GM Stone & Chalk, says Melbourne startups have been clamouring for more support. Victoria has over 50 fintech companies that employ more than 500 people, including emerging startups, as well as more established successes.
“Melbourne fintechs have found it hard to access affordable space, as well as mentorship, talent, business programs and capital," he says. "As an ecosystem, we’re emerging as a real centre of excellence in a number of fintech verticals, like wealth, blockchain technology, and cyber security, and by launching Stone & Chalk in Melbourne we will help local fintech startups feel part of a bigger fintech movement, connecting them with potential investors, and customers nationally, and globally."
Since its launch in August 2015, Stone & Chalk in Sydney claims 24 Australian, and international corporate partners, over 90 start-ups, 325 residents, and graduating 32 alumni, with 13 of its startups now scaling globally.