Digital technologies (digitech)

Australia delivers new business for Israeli insurtech EasySend

EasySend has set up an Australian subsidiary to bring paperless processing to Australian organisations.

The Australian market has a clear need for EasySend’s solution, says Mick O’Brien, EasySend’s Managing Director in Australia.

‘Insurers, banks and healthcare companies are looking to replace paperwork-based forms and manual processes with more seamless digital experiences,’ says O’Brien. ‘This need is underscored by Australia’s commitment to cleantech and its goal to reach net zero by 2050.’

‘Partnering with Australian businesses has enabled EasySend to expand our digital transformation solution across a multitude of new verticals and use-cases. This has contributed significantly to new product features and enhancements utilised by our customers worldwide.’

Founded in 2016, EasySend’s no-code platform allows organisations to digitise complex forms, customer data intake and signature collection processes. The resulting efficiencies improve the customer experience, result in higher-quality data and enable organisational flexibility.

EasySend raised US$55.5 million in Series B funding in 2021, which will fund its expansion across the Asia-Pacific region. The company’s customers include NobleOak, a leading life insurer; Genea, one of Australia’s leading IVF providers; and global customers AXA, Munich Re and Generali.

Australia’s A$167 billion tech sector

Australia has one of the biggest technology industries in the Southern Hemisphere. The tech sector’s economic contribution to GDP has increased 79% since 2016–17, reaching A$167 billion in 2020–21.

Australia is also a nation of early adopters. In global rankings, Australia scores highest for the skills needed to use, adopt and adapt new technologies.

Find out more about Australia’s digitech sector.

How Austrade helped

To support EasySend’s market entry, Austrade provided:

• information on the Australian digital tech sector
• guidance about why and how to attain an Australian Business Number
• lists of professional service providers
• introductions to Investment NSW
• invitations to events including Israeli Tech Investor Roundtable in Sydney.

Go further, faster with Austrade

• Contact Austrade for more information about investment opportunities in Australia.
• Subscribe to the Investment Update newsletter to find out about new investment opportunities, insights and investor success stories across Australia.

Published: 14 August 2023

Niricson sets up Oceania HQ in Australia with equity support from Victorian Government

Canadian tech startup Niricson has set up its Oceania headquarters in the Melbourne CBD. It is aiming to create 50 highly skilled jobs over five years, with immediate recruitment of operations and business development staff. This move will strengthen the technological capabilities of Victoria’s infrastructure assessment ecosystem.

The investment was the first by the Victorian Government’s Equity Investment Attraction Fund. The Fund makes direct equity investments in high-growth companies of strategic interest to Victoria, which are looking to scale up their business.

‘With multiple projects already underway in Melbourne, this funding from the Victorian Government is ideal for us to accelerate our growth in the region and the rest of Australia,’ says Niricson’s Co-founder and CEO Harsh Rathod.

Digitising infrastructure inspections

Founded in 2020, Niricson’s smart software helps infrastructure owners inspect, manage and predict the condition and performance of their infrastructure.

Its DRONIC™ and AUTOSPEX™ technologies combines robotics, computer vision and acoustic technology to assess damage on large-scale infrastructure like dams, bridges and airfields. This digitises and automates the inspection of critical infrastructure. The resulting data and actionable insights help customers improve safety and risk management.

In August 2023, Niricson announced it had raised over CAD$10 million in Series A funding.

A market ready for digital infrastructure assessments

Niricson has been doing business in Australia since 2022. In Victoria, Niricson and Arcadis will be working with the Victorian Department of Transport and Planning to assess and create a baseline condition model of the iconic San Remo Bridge.

Through data collection and analysis using Niricson’s proprietary AI technology, comprehensive insights will show the structural condition of the bridge. This will help builders ensure the long-term safety and durability of the bridge between mainland Victoria and Phillip Island.

In addition to San Remo, Niricson has completed or has ongoing projects with WaterNSW, Melbourne Water and other civil infrastructure owners in the country.

Niricson found Australia – and Victoria specifically – to be a market that is reliable, innovative and ready for digital infrastructure assessments.

Australia’s tech sector workforce was another drawcard. One in 16 Australians work in the sector. Universities and research institutions are training the next generation of workers, offering courses in artificial intelligence and autonomous systems to remote sensors and cyber security.

‘Our Oceania HQ in Melbourne will allow us to hire and retain some of the best people in the region to support our growth,’ says Rathod.

Australia’s booming digital technology industry

Australia’s A$167 billion tech industry is one of the largest in the Southern Hemisphere. The country is investing in digital infrastructure – including the National Broadband Network, 5G operational bases, cybersecurity, AI and quantum – to ensure the tech industry can meet its goal of contributing A$250 billion to GDP by the end of the decade.

Find out more about investment opportunities in Australia’s digital technology sector.

How Austrade helped

Austrade was instrumental in introducing Niricson to the relevant networks in Australia, and ensuring Niricson understood the landscape and opportunities available for enterprises looking to enter the Australian market. Austrade was also critical in providing Niricson with a strong competitive position for digital infrastructure condition assessments in the Australian market.

Go further, faster with Austrade

Contact Austrade for more information about investment opportunities in Australia. 

Published: 10 August 2023

Wix weaves a world of web wonders in Australia

Nearly 6 million Australians use Wix’s platform to design and build their websites. The platform’s popularity and the excitement of people who have started their online presence on Wix even surprises Nathan Archie, Wix’s General Manager, Australia and New Zealand.

‘People stop us in the street to tell us they built their first website on Wix,’ he says. ‘I’ve never experienced the volume of this kind of appreciative reaction in Australia before.’

The Israeli tech company is returning the love. It recently set up an office in Sydney to better support its Australian customers. It also enables Wix to tap into Australia’s booming digital tech sector and test new products with the country’s tech-savvy population.

Strengthening connections with Australian users

Archie says this is a new and expanded strategy for Wix in Australia.

‘We already have a significant presence in Australia,’ he says. ‘It made sense to put boots on the ground to provide our users and partners here with in-person support. We also want to build on our brand recognition and make sure users know the platform can support them as their needs expand.

‘You do get a different level of connection from an in-person contact,’ he adds. ‘Different ideas and concepts can pop up that don’t necessarily come up on a 2D screen.’

He also observes that ‘Australians are willing to invest heavily but want a commitment from the company they’re partnering with that there will be an ongoing relationship and support. We believe it is important we demonstrate we’re willing to make the effort to be here.’

A big-spending, tech-savvy market

Wix recognises the scale of the opportunity in Australia. Australian businesses are big IT spenders. They invest heavily in IT infrastructure, software and data capabilities. In 2022, spending increased by 13% from 2021 to reach A$117 billion, compared to a global growth rate of 4%. Australia also ranks in the top 10 nations globally for 5G-connected devices, data centres, telecoms investment and digital cities.

‘Australia really is a unique market. It is a great place to pilot new offerings for English-speaking markets,’ says Archie. ‘It has a relatively small population, and we find there is a high propensity for businesses and individuals to try new things and be innovative. Part of my priority is to look at how we can launch more of our products in the wider Asia-Pacific region.’

Austrade’s in-country support in Australia and Israel

‘Austrade’s advice and support was instrumental to strengthening the business in Australia,’ Archie says. ‘We also benefit enormously from Austrade’s in-country support in Israel.’

One of Archie’s roles is to feed back to Wix headquarters about Australian user needs and experiences. ‘I’ve definitely leaned on Austrade to help me communicate to leadership in Tel Aviv how the Australian market works. They also help explain some of the local nuances and differences in approach that can be hard to understand from outside the country.’

Scaling to the expanding needs of its users

Wix has been investing heavily in localisation efforts to scale. Wix supports over 248 million users in 191 countries and 22 languages, and the company continues to localise its offerings.

‘We support complex businesses needing e-commerce, booking functionality or membership areas,’ says Archie. ‘Clients may need ticketing capability for large-scale events with different pricing models. Or high-end multi-site management with multiple integrations, such as customer relationship management systems. We’ve just integrated with Meta so clients can manage messaging channels directly from their Wix inboxes.’

Bringing an international perspective to technology challenges

Michael Platt, Australian Trade and Defence Office and Investment Director for Austrade in Jerusalem, is optimistic about what Wix’s presence in Australia can offer.

‘Wix is emblematic of Israel’s booming tech industry,’ he notes. 'Further to the entrepreneurial mindset and innovative spirit, it has a vision to provide digital access to everyone and is known for its strong culture of inclusion and social impact. A great example of this was the company’s operation to ensure the safety of its nearly 1,000 Ukrainian employees following Russia’s invasion of Ukraine.

‘We are excited to see Wix become part of Australia’s fast-growing A$167 billion tech sector, which has expanded by 80% in just 5 years. The company seeks to tap into Australia’s huge and growing appetite for digitalisation and IT, strong tech talent, attractive online consumer market and access to the Asia-Pacific region.’

Archie agrees. ‘Wix has always seen technology as an enabler, not an end in itself. The focus is on the people who can be affected.

‘There is a high level of awareness now about how people are being affected by technology. Issues like cyber security, for example, are big ones for us. We would definitely like to be part of those conversations and talk about how we can help.’

Go further, faster with Austrade

• Contact Austrade for more information about investment opportunities in Australia.
• Subscribe to our Austrade Europe, UK and Israel Newsletter to discover new trade and investment opportunities, insights and success stories in key sectors.

Published: 3 August 2023

Singapore-based fintech Lendela introduces reverse auction loans in Australia

Singaporean personal lending fintech Lendela has opened its first office in Australia. Founded in 2018, Lendela’s online platform helps consumers find the best loan with one application. The company processes around 70,000 loan applications a year. Lendela’s Australian base in Sydney is the company’s fourth office after Singapore, Malaysia and Hong Kong.  

‘Austrade was instrumental in helping us enter the Australian market and building our network,’ says Lendela’s founder and CEO, Nima Karimi. ‘We have received valuable introductions, and advice and support in legal, HR and market matters.’ 

Australian loan market offers strong opportunities

Karimi says Australia’s huge loan market offers strong business opportunities. 

‘Australia disburses more than 8 million personal loans annually,’ he says. ‘The need for loans is also growing because of changing economic circumstances.’ 

Karimi notes there are gaps in the competitor landscape that Lendela can fill.  

‘Other comparison platforms have lead-generation referral models and only cater to customers with good credit ratings,’ he says. ‘There are many considerations when picking a loan. Lendela finds the best loan and guides customers through the application process until they receive the loan.’ 

A supportive financial and regulatory environment 

Jake Osborne, Head of Australia at Lendela, cites Australia’s sophisticated financial ecosystem as a key reason for market expansion. 

‘Australia’s financial environment makes deep integration possible,’ Osborne says. ‘The new Open Banking framework exposes data points necessary for credit decisioning in a reliable and secure manner.’ 

Australia’s strong fintech infrastructure and clear regulatory environment offer a clear launching pad for Lendela’s offering, building on incumbent solutions used by lenders.  

‘Most Australian financial institutions are already partially or entirely digital,’ says Osborne. ‘Lendela brings the personal lending ecosystem together by matchmaking consumers and lenders.’ 

Osborne believes Lendela’s platform will become an invaluable tool for lenders. 

‘In a highly competitive lending space, customer acquisition costs are incredibly high for lenders. The customer experience is also extremely fragmented for borrowers comparing loan terms,’ he says. ‘Lendela’s proprietary loans-matching engine offers a better solution to both lenders and borrowers.’ 

How Austrade helped

Austrade provided Lendela with market insights and assisted with its go-to-market strategy. 
 
The agency hosted business-matching meetings between Karimi and key players in Australia’s fintech ecosystem, including at the Intersekt conference in Melbourne and the Singapore Fintech Festival. Austrade also helped identify a visa pathway for Lendela’s Chief Technology Officer. 
 
Support for Australian and Singaporean fintechs 
Austrade and the Singapore FinTech Association signed an MoU in April 2023. The signing initiated Project Lorikeet, a new program to support Singaporean fintechs’ expansion into Australia, and Australian fintechs that want to explore opportunities in Singapore. Read more about the program.

Go further, faster with Austrade

Contact Austrade for more information about investment opportunities in Australia.

Published: 16 May 2023

Wisk’s self-flying, electric air taxis to land in Australia

The future of flight is coming to Australia, with Wisk bringing its self-flying, electric air taxis to the 2032 Olympic and Paralympic Games in Brisbane.

The company has signed a Memorandum of Understanding with the Council of Mayors South East Queensland (“Council of Mayors”). The two organisations will work together to introduce a safe, sustainable and scalable autonomous air taxi service to South East Queensland.

The world’s most advanced air taxi

US-based Wisk is an advanced air mobility (AAM) company backed by The Boeing Company and Kitty Hawk Corporation.

The company will bring its sixth-generation air taxi to Australia. Launched in September 2022, it is the world’s first self-flying, all-electric, vertical take-off and landing (eVTOL) air taxi.

The Generation 6, 4-seater air taxi combines industry-leading autonomous technology and software with human oversight of every flight. Its simplified design will deliver one of the safest passenger transport systems in commercial aviation. It is the first-ever autonomous, passenger-carrying eVTOL air taxi to be considered for FAA certification.

South East Queensland’s mix of rural, beach and city landscapes makes it the perfect location to trial and launch innovations such as AAM and eVTOL aircraft.

‘We are proud to engage with forward-thinking local leaders, like the Council of Mayors, to advance the introduction of AAM,’ says Gary Gysin, Chief Executive Officer of Wisk. ‘[It will] benefit not only Wisk, but local communities and the industry as a whole.

‘This is an exciting time for us, as we continue our momentum and expand our global presence. We look forward to building on the strong relationships we have in Australia to make safe, all-electric, autonomous flight a reality.’

How Austrade helped

Austrade helped Wisk to set up a presence in Australia. The agency provided:

• introductions to government organisations including the Civil Aviation Safety Authority and Airservices Australia
• invitations to events, roundtables and industry briefings
• market entry consultative guidance
• referrals to professional services firms.

Published: 9 February 2023

Vivino: Putting Australian wine at the world’s fingertips

The world’s largest online wine marketplace, Vivino, has launched in Australia, bringing a new export channel to the world’s wine lovers for Australian producers. It will make it easier for producers to diversify into and drive sales and marketing in new markets worldwide.

Since opening an Australian office in 2021, Vivino has onboarded 50 Australian wineries and 30 retailers, importers and distributors. Its app has been downloaded 1 million times in Australia and it has 920,000 registered users. Around 275,000 users interact on the app every month.

‘We want Vivino to champion Australian producers of all sizes and be that channel to the world for their wines,’ says James Fildes, Vivino’s General Manager in Australia.

An online marketplace connecting wine lovers and producers

Founded in 2010, Vivino offers more than 15 million wines from 242,500 wineries. The wines are available in 20 markets, including the US, Canada, Brazil, the UK, most European countries, Hong Kong, Japan and Singapore. Its 59 million users can use its app to scan a label – there are 2 billion in Vivino’s database – and view information about the wine before purchase.

Key to Vivino’s success is its personalised recommendations. The app takes a user’s previous purchases, ratings and reviews to recommend new wines, styles and regions to try. Vivino’s crowd-sourced ratings and reviews are one of the platform’s distinguishing features.

‘Vivino was set up to help people learn about and understand wine without the elitism that has often smothered the wine industry,’ says Fildes.

Yarra Valley winery Levantine Hill Estate has 10 premium wines on Vivino. It has used the platform to sell some high-value and highly rate wines in the US. The winery’s Head Winemaker Paul Bridgeman singles out user-generated reviews as a key selling point. ‘I really like that the reviews are by “real” people,’ he says. ‘You can see what customers like about our wines.’

The Australian wine market: engaged and eager to diversify

Australian users have had access to Vivino for 10 years. The company launched its Marketplace service in Australia in June 2019, working with local producers to list their wines and forging partnerships with domestic retailers, distributors and importers. The Australian business was run out of Hong Kong until March 2021, when Fildes joined Vivino to build the operation locally.

‘Our monthly active users jumped to around 150,000 during the pandemic when everyone moved online,’ says Fildes. ‘We wanted to connect with this group of highly engaged, switched-on consumers willing to try and buy a wide range of wines.

‘Trade issues were also spurring Australian wineries to seek new markets. It was a crucial moment for us to become more involved in the Australian business. We have the tools and the means to connect them to a global distribution network and drinkers who regularly buy wine on the app.’

To assist its expansion into Australia, Austrade provided Vivino with information on major Australian wine organisations and connected the company to state and territory agencies.

A new export platform for Australian wineries

Vivino’s market entry couldn’t have come at a better time for Australian wineries seeking to diversify their business. Vivino offers a new channel to market that is backed by insightful data and access to a global network of wine lovers.

‘Our data shows there is growing curiosity and interest in Australian wine globally,’ says Ewan Proctor, Vivino’s Category Manager, Australia. ‘Importers are also keen to get more Australian wines into their market. What they need is a better understanding of the wine styles we make – and that’s where we can help.’

Vivino works with wineries to tell their brand story through its Strategic Brand Partnerships offering. When a Vivino user scans a bottle of their wine, they receive an email with the winery’s story. This helps build brand loyalty, increase engagement and, importantly, drive sales.

‘Vivino is not just a great marketing tool, it is also a powerful sales tool,’ says Fildes. ‘The app and the marketplace make it easy for Australian producers to reach customers, and for these customers to buy their products. We’ve already seen some great sales for Australian producers.’

One of these producers is South Australian winery Eight at the Gate Wines. It has been on Vivino since November 2020 and has six wines listed. To date, the winery has racked up $50,000 in Australian sales, and $10,000 in Hong Kong and Japan. Co-founder Jane Richards says its wines had been rated by users worldwide prior to listing with Vivino.

‘The biggest benefit for us is that these guys know how to market wine,’ she says. ‘I don’t think Australians realise how huge the use of Vivino is on a global scale. We had no idea that when we listed with Vivino in Australia, it would open us up to other international markets.

‘Vivino levels the playing field for producers like us that don’t have a giant marketing budget. They have a database of wine lovers we could only dream of having. Vivino has been nothing short of great to work with. We really feel like they are invested in our mutual success.’

The power of data

Vivino provides personalised data so wineries can track brand awareness, engagement and sales at a global level.

‘These insights help producers be more strategic about market entry,’ says Proctor. ‘It helps them see the markets where their wine styles are rating well. For instance, we can use our database of consumer ratings to find the wines with the taste profile that US palates prefer. We can recommend price points and ensure the right wines reach the right community of drinkers. This increases the chance that they will buy the wine.’

Wine giant Accolade Wines has five brands on Vivino: Hardys, Grant Burge, St Hallett, Petaluma and Mud House. It has been working with Vivino to make sure its content is engaging and friendly when consumers scan its brands. It is now focusing on emerging markets and e-commerce capabilities.

‘We’re most excited about the data we can unlock together,’ says Andrew Walsh, Accolade Wines’ Global Director, Customer and Commercial. ‘We’re only just getting started but the results are very encouraging. The Vivino team is motivated, professional and in an exciting growth phase so a perfect alignment for our business.’

Putting producers in control of pricing

Importantly, Vivino is not in the business of selling wine at low prices, a practice Proctor describes as ‘disrespectful to producers and destructive for the industry.’

‘Many online retailers lead on price or insist on price reduction as the primary tool in selling wine,’ says Fildes. ‘We don’t want to fuel that “race to the bottom”. It’s not sustainable for wineries or retailers. We want to make sure quality and price is sustainable for our partners.’

‘It’s simply not true that you have to discount to sell product – and our data backs this up,’ adds Proctor. ‘What we’ve learned is that consumers look not just at price, but at quality and relevance to their drinking style. People want to drink quality wine and are prepared to pay for it.’

‘Producers and distributors always ask: how do we know you’re not going to screw us on price?’ says Fildes. ‘We advise producers on an appropriate price for the market, but they make the final decision on the price. They will always be in control of the pricing on our platform.’

Taking more Australian wine to the world

Vivino’s Australian office is in the wine city of Adelaide. Fildes is based in South Australia’s Barossa Valley and Proctor in Victoria’s Yarra Valley. Living among winemakers in two of Australia’s most famed wine regions helps them understand their products, stories, struggles and ambitions.

Proctor is also one of 15 people in Wine Australia’s Future Leaders program. Future Leaders is the Australian wine industry’s professional and personal development program. It aims to create individuals with leadership qualities who can take their business and the sector to the next level, contributing to the future success and longevity of the Australian wine community.

‘Our immediate goals are to work more closely with producers to tell their stories in Australia and overseas,’ says Fildes. ‘We’re also working out how to best engage with other markets and level the playing field for Australian producers.’

In future, Vivino intends to pool Australian wines into a central fulfilment facility for export to the markets in which it operates. This hub model is already in use in Europe.

Published: 1 August 2022