Fintech Upstreet throws in the towel
Upstreet, a local fintech that rewards shoppers with fractional shares on the ASX and US stock exchanges when buying everyday items, has shut shop seventeen months after it raised $3 million from investors.
Sabine Tejerina, Upstreet co-founder. Jeremy Piper
“After four years in operations, I would like to inform you that we have taken the difficult decision to close down Upstreet,” co-founders Christian Eckleman and Sabine Tejerina said in a customer email seen by Street Talk.
“We will stop promoting and distributing the fund and initiate steps to wind-up the Upstreet fund.”
The fintech is backed by a host of Australian venture capital funds including Antler and Albert Tse’s Wattle Hill Capital. It has more than 400 Australian and international brands on the platform, including ASX-listed companies such as Marley Spoon andBaby Bunting.
More to come.
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