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Aussie fintech Upstreet shuts up shop

Aussie fintech Upstreet shuts up shop

Upstreet, an Australian fintech that lets shoppers earn fractional shares on purchases, has closed down, according to a message sent to customers and seen by the Australian Financial Review.

The closure comes 17 months after Upstreet completed a $3 million funding round and two weeks after it celebrated its fourth anniversary with a LinkedIn post stating: "Here is to many more years!"

The firm's app and Google Chrome extension let users shop at over 600 brands and earn fractional share rewards.

Founded by former McKinsey staffers Christian Eckelmann and Sabine Tejerina, Upsteet also offered a programme for companies to provide their employees with fractional shares.

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