The profit motive for business needn’t be at odds with a positive impact – and these five fintech start-ups are here to prove it.

For some fintechs, doing business isn’t just about making money. Embedding social purpose into their offering is how they stand out from the rest.

These innovative start-ups are effecting social change by giving back to the community and opening doors to the finance world for those previously marginalised by the industry – all the while amassing a healthy following of customers keen to make a difference.

Here are five Australian fintechs working towards social change.


The crowdfunding platform’s philanthropic efforts range from donations to free advice workshops for not-for-profit organisations. Pozible is also a founding partner of 10x10, which organises events that give three charities the opportunity to pitch to an audience of 100 people, each of whom donates $100 to the charity they prefer. The aim is to provide much-needed charity funding while engendering a culture of philanthropy.

Pozible runs free monthly workshops in Sydney and Melbourne and events in Brisbane to provide advice to not-for-profits as well as for-profit businesses on how to make crowdfunding work for them.

Since launching in 2010, Pozible has partnered with various organisations, including Victoria’s Department of Environment, Land, Water and Planning to raise funds for groups working to conserve some of the most vulnerable species in Victoria.


This investment app allows retail – or “mum and dad” – investors to bid on stock in initial public offerings (IPOs), a method of investing that has largely been accessible only to the wealthy. OnMarket aims to “democratise access to capital raisings” and give everyone a chance to make a profit at the same time as helping to bring down fees.


This brand new fintech launched in July with the aim of making financial advice accessible to all. Clover is an online investment management platform that plans to put personal financial planning within reach of most people, particularly savings-minded millennials. Instead of a six-figure minimum investment, users can kick off their portfolio with just $5000.


This fintech does group buying, but not as you know it. Liven has partnered with various retail and hospitality outlets to provide discount deals, but instead of pocketing the savings, users can choose to donate all or a portion to charity. With its tagline “Pay. Save. Donate”, people can pay their Liven bargain forward through an app to charities such as the RSPCA, the Salvation Army, OzHarvest and beyondblue.


Everyone has money questions, but not everyone has the money to ask them. Enter FinancialAsk, an online platform that aims to make financial advice accessible and affordable for everyone. 

Supported by the University of Melbourne, it allows users to post questions about any financial subject and have them answered promptly by a team of financial professionals. This model does away with the conflict-of-interest situations that arise when advisers gain commissions for products about which they give advice.

FinancialAsk also aspires to educate consumers about practical money management through the Q&A section on its website that anyone can access.
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