Listed cloud accounting company Xero will use a raft of new partnerships and agreements to try and evolve from its traditional accounting roots to become an all-round player in the booming fintech industry, however plans for a US initial public offering have been put back.
Xero announced numerous new commercial partnerships at its Xerocon conference in Melbourne last week, including agreements with NAB, Moula and OzForex. The company’s Australian managing director Chris Ridd said it was part of becoming a “true fintech” player.
“If you look at the next five to 10 years, we’re evolving into a true fintech with a big data play,” Mr Ridd said.
Read more: http://www.afr.com/technology/xero-to-become-a-true-fintech-player-but-pushes-back-us-ipo-plans-20150813-giya91#ixzz3jGaiyjYH
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via Xero to become a ‘true fintech’ player, but pushes back US IPO plans | afr.com.