Payments in Action

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Payments in Action



Financial Services





Investment Highlights

  • Fully automated advanced technology payments infrastructure (AI/ML assisted)

  • Fast organically growing and expanding business model, largely self-funded

  • Fully ASIC licenced tier 2 non-ADI payments processing entity with own BSB

  • Experienced team and advisory board in the fintech and payments industry

Company Overview

  • Australian digital payment and international foreign exchange platform and infrastructure for larger enterprises to individuals

  • Tier 2 non-ADI payments processing entity with $4bn+ payments volume (+1,300% growth) and 650,000+ (+63% growth lasts 12 months)

  • FY23 revenue $3.15m (+48% growth) and 11% profitability (FY22 35%, FY21 0%)

  • European expansion plans in motion with demand from existing business and enterprise segment

Flash Payments is a payments technology company offering a comprehensive solution to improve digital cross-border and local payments services for everyone – from individuals to global enterprises. The company’s mission is to be a leader in digital payments, using technology whenever possible to automate and optimize payment services in Australia, and beyond.

They are focused on bringing efficiency, access and affordability to payments. As the first company in Australia to trailblaze with RippleNet in 2017, they were early to recognize the power of blockchain technology to facilitate faster, cheaper, and more transparent cross-border payments.

Since then, Flash Payments built a critical payments infrastructure that supports everything from digital cross-border payments to end-to-end local payment and account solutions. In each of three core products – FlashFX Personal and Business, Flash Connect and FlashFX Manage, we are utilizing automated, predictive and blockchain technologies where possible to facilitate low-cost, near real-time and transparent payments. In-line with our innovative mission of maximum automation, we are finding new opportunities to use artificial intelligence (AI) and machine learning to accelerate and bolster our fraud monitoring and AML to deliver value through higher approval rates and fewer failed payments.


FlashFX Personal and Business product enables low cost, high-speed international payments for Australian individuals and SMEs. Global payments technology uses a combination of traditional and blockchain-enabled (RippleNet) liquidity routes to reduce the reliance on correspondent banking networks, increasing transfer speeds and reducing currency conversion costs. Flash’s service consistently delivers superior exchange rates to the major Australian banks and customers don’t pay transfer fees.

FlashConnect, digital payment solution for enterprise, is mitigating the challenges global businesses face in launching new payment services in Australia without access to traditional bank accounts. The single, white-label API offers a top-to-bottom local payment and account solution with customisable options including international payments, local AUD collection and distribution, virtual bank accounts and embedded AML/compliance functions. As part of the product, partners get access to the Flash Connect portal for the ability to easily reject deposits, manage payments and transactions, as well as access reporting and full data reconciliation. By combining international and domestic payments with local account capabilities in a single API, FlashConnect simplifies how businesses can get to market and scale quickly in Australia.

Through FlashFX Manage, Australian private client advisors can access the foreign exchange platform to transact cross-border payments on behalf of their HNW clients at institutional rates. Despite serving clients with international portfolios, foreign exchange advisory has traditionally sat outside the mainstream service proposition of private wealth advisors and accountants in Australia. FlashFX Manage makes it simple for private client advisors to add digital FX price and execution support to their offering, expanding their asset management capabilities whilst standing out from their competition. Built on the same innovative payments technology powering their Personal and Business solution, their HNW clients benefit from near real-time funds delivery, better exchange rates than the banks and funds tracking capabilities.

Prior Valuations

June 2019

A$4.42 per share @ EV of A$7.5M

April 2021

A$5.68 per share @ EV of A$12M

April 2022

$8.65 per share @ EV of A$22M

April 2023

$13.75 per share @ EV of A$35M

Key Investors

Tarasp Investments Pty Ltd 54.42% (COO, co-founder)

Analytech Pty Ltd 24.03% (ex-CTO, co-founder)

JR Nirvana Pty Ltd 15.31% (related to Tarasp Investment Pty Ltd)

Vasyl Boroviak 1.90% (CTO, director)

Additional Information

  • Company Presentations


  • Management
  • Nicolas Steiger

    Director and COO

  • Vasyl Boroviak

    Director and CTO

  • Shanthi Chary


  • Kevin Gallehawk

    Head Business Development


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