Top 10 tech startups in Australia (2020)
Australia’s vibrant and fast growing tech startup scene has established numerous tech startups that have gone on to become some of the leading tech solutions worldwide. Home to companies like Atlassian, Xero, ComputerShare and REA, Australia’s thriving tech ecosystem and has produced some of the worlds fastest growing tech companies. VC backed funding along with a grass-root lean startup approach has landed these companies among Silicon Valley giants Facebook and Amazon. With 165.77m AUD in VC funding the tech startup scene has contributed close to 5% of Australia’s GDP. It is safe to say the tech entrepreneurs from the land down under have continued to push technology to its edge establishing multi-billion dollar businesses in doing so.
“We’re here to put a dent in the universe. Otherwise why else even be here?” — Steve Jobs
Top 10 tech startups in Australia
The following list of Australian based tech startups is based upon the collection of several data-points including growth, funding, customer base, net profit and market cap.
10. Freelancer — freelancing marketplace
Freelancer is the worlds largest provider of freelancers and also home to the worlds largest crowd sourcing marketplace. Having launched in 2009, the Sydney based tech company has connected over 44 million employers and freelancers worldwide. Enabling freelancers to bid for jobs posted on the site the startup charges a 10% fee for every accumulating to a net revenue of $44.7M. Having acquired several marketplaces including GetAFreelancer.com, EUFreelancer.com, LimeExchange.com, Freelancer is set to continue to thrive in the job marketplace landscape for many years ahead.
Check them out www.freelancer.com.au
9. AirTasker — outsource odd jobs
AirTasker is a platform that links people who need to get odd jobs done with local people who are able to complete those tasks and get paid. The job platform has cultivated a new industry of micro services that range from cleaning, handyman jobs, fixing fences, creating business logos to moving a sofa. The ability to practically outsource any task has filled a huge gap in the market between trained professionals who would over-charge to your next-door neighbor at a fraction of the cost. Users describe the task, set a budget and people offer to complete the activities. The company has recently expanded its operations into Britain and on the verge of generating more the $40M annual revenue.
Location: Sydney AUS
Users: 2,000,000
No. of employees: 175
Check them out www.airtasker.com
8. Lendi — online mortgage platform
Lendi is home loan mortgage broker that uses a smart data matching technique to search over 35 lenders to provide its clients with the right home loan based on their specific needs. The Lendi team handle the home loan application from the beginning to the end on behalf of their clients, completing the paperwork and negotiate with mortgage brokers to provide the best home loan rates. Having launched in 2013 the Lendi platform has settled over $9B AUD in home loans.
Location: Sydney AUS
Years in operation: 30
No. of employees: 300
Check them out www.lendi.com.au
7. Go1 — e-Learning
Go1 is a worldwide leader in online learning platform scene, they connect technology and education to provide individuals and companies with courses to teach and up-skill employees. Go1 started as a garage project from a small town in Brisbane where Vu Tran and Andrew Barnes started the company. After having successfully submitted their idea to Y-Combinator the pair expanded the startup across the world, opening the platform to users in the United states, South Africa, Vietnam, and the United Kingdom. Go1 has now become one of the major players in the e-learning industry and continues to operate along some of the largest businesses in the world.
Location: Sydney AUS
Revenue: $45.5M AUD
Check them out www.go1.com
6. The Iconic — e-commerce
The iconic is one of Australia's largest fashion and footwear retailers. The Sydney based e-commerce startup only launched in 2011 and has since taken over the online fashion landscape, providing Australians with access to luxury trends with a click of a button. TheIconic supplies over 1000 different brands providing a collection of over 60,000 items.
Location: Surry Hills Sydney
Years in operation: 9
No. of employees: 689
Check them out www.theiconic.com.au
5. Afterpay — buy now, pay later service
Afterpay is a Australian based FinTech startup that provides buy now pay later services without the need of a credit card, avoiding upfront fees and enabling users to split larger purchases into 4 equal fortnightly payments. Founded in 2014 by Anthony Elsen and Nick Molnar the startup aimed to provide a platform to online retailers to offer layby services, however with the new implementation of their app the company has expanded to offer their services to in-store retailers as well. With its recent expansion in the United Kingdom, After pay seeks to dominate the buy now payer later service for many more years.
Location: Sydney AUS
Revenue: $254.5M AUD
Users: 7,300,000
Founded: 2014
Check them out www.afterpay.com
4. Uno — mortgage lending platform
Uno is another leading finTech startup that helps Australian households to find, and stay on the best value home loan for the whole life of the loan. Founded in 2016, Vincent Turner the founder launched Uno to improve Australia’s financial health with a vision to make the process of securing home loans, faster, easier and more transparent. Uno continue to mange the loan after settlement aiming to find clients the best interest rates and loans to meet their needs.
Fun Fact: Pronounced “you know” because you comes first
Check them out www.unohomeloans.com.au
3. Spaceship — Investment app
This finance based micro-investing app provides Australians with an easy way to investment in the stock market and other assets like Bitcoin with as little as $1. Launched recently in 2018, the startup has over 39,000 users with more than $250M AUD in funds under management. Users can choose to invest in either a GrowthX index which focuses on global tech companies, or a Global Index which is more of a passive investment in global large market-cap companies.
Funds under management: $250M AUD
Location: Syd AUS
Users: 39,000
Check them out www.spaceshipinvest.com.au
2. Judo Bank — SME Lending
Like Lendi and UNO, Judo Bank is another participant in the SME lending market, however unlike its competitors Judo Bank specializes in providing Australia Small Business with easy access to funding. Having identified a lending market gap of $90M, Judo began with a funding round of $140M from investors across AUS to meet this shortage. With continual year on year growth, Judo has raised $230M in fresh equity lifting it to an exclusive club of local unicorns. The SME lender was licensed to take deposits in 2018 and has now raised a total of $770M in equity over this time period. Australia’s annual increase in SME Business will provide supply to increase business operations and reach greater growth.
Location: Sydney AUS
Founded: 2014
Lent: $1.1B AUD to SME across Aus
Employees: 192
Check them out www.judo.bank
1. Canva — Online design platform
Canva is Australias largest tech startup with a valuation of $3.2B AUD. Canva provides a online design platform that enables users to create social media graphics, presentations, web content and a whole load of other forms of visual content in a collaborative and fun environment. Canva provides an easy to use approach to overcome the initial intimating nature of graphic design software that business owners face when trying to create content. Founded in 2012, the platform now has over 10 million users based across 179 different countries. The digital revolution of the internet has provided Canva with a large market to compete with, however the clever design tool is set to see continual growth over the coming years ahead.
Founders: Melanie Perkins, Cameron Adams, Cliff Obrecht
Founded: 2012
Employees: 1023
Check them out www.canva.com.au
