Crowdfunding Australia


  • Type: Retail
  • Total Round Size (min): AUD$500,000
  • Total Round Size (max): AUD$2,000,000
  • Price per share: AUD$5.68

International payments platform for all your payment needs. Access unrivalled speed, efficiency and peace of mind.

Offer Live


FlashFX is now accepting investments!

  • Fees Paid by Issuer
    : 7.50% of funds raised
  • Cooling-Off Rights
    : 5 working days
  • Company
    : This offer is for direct equity in Flash Partners Pty Ltd (trading as FlashFX)

Offer Overview

Key Documents

FlashFX Overview

FlashFX has developed a technology-driven platform for domestic and global payments that in part capitalises on blockchain technology to make transfers cheaper, faster and more secure. The platform is live and generating revenue, with an impressive pipeline of customers.

Frustrated with the lack of innovation and inefficient use of global payment technologies across Australian banking and financial institutions, Nicolas Steiger (ex-UBS and Westpac) set out to create an alternative payments platform, underpinned by blockchain technology, that improved upon the shortcomings of the traditional cross-border payments model. To address the high cost, lack of transparency and slow fund delivery speeds., Nicolas founded FlashFX in 2016.

As its core, FlashFX leverages a variety of digital payment technologies, both domestically and internationally. One example is Ripple’s On-Demand Liquidity blockchain solution, which utilises Ripple’s digital asset (XRP) to improve and speed-up the payment flow. The FlashFX platform is inherently blockchain agnostic and enables enterprise and consumer clients to streamline their foreign exchange transfers by centralising the process and cutting out the corresponding banks (thus saving on extra costs).

FlashFX generates revenues via two core streams: (1) B2B channels and (2) B2C channels. B2B generally refers to FlashFX facilitating FX transfers for bank and non-bank financial institutions via API’s or RippleNet, while B2C refers to FlashFX making transfers for consumer and business clients directly via their website and technology. B2B has become the primary focus for the Company. With the core technology/IP and infrastructure now built, tested and proven, FlashFX is ready to scale to meet the significant B2B demand it is experiencing at the moment.

The Australian domestic FX remittance market recorded a total transaction volume of AU $50bn and is expected to grow over the coming years as the trends of international migration and online retail continue. With their superior infrastructure, FlashFX is primed to capture a greater share of the market by offering their significantly cheaper, faster and more secure technology to a wide range of clients.

Investment Highlights

  1. Disrupting the International Money Transfer Market

    The Business has been developed to alleviate the challenges experienced by users of traditional and correspondent banking services, cross-border and global payments solutions, both institutional and retail, going a step further beyond the current fintech offerings. FlashFX’s technology vastly outperforms existing infrastructure on efficiency, cost, speed and security.

  2. First Mover Advantage with High Barriers to Entry

    First-mover technological advantage complemented by licenses to operate in Australia, with a view to access additional markets in Asia and Europe. To date, $3.2m has been invested in the platform with most systems, infrastructure and processes, as well as IP, built in-house thus creating significant technological, regulatory and capital-based barriers to entry.

  3. Currently Operating and Ready to Scale

    FlashFX’s platform has been operating for over 3 years and has cumulatively generated $1.8m in revenues, with over 4,000 B2C accounts and 65 enterprise clients. The business has spent this time perfecting its technology and business model and is now ready for mass adaptation. With the product 99%+ automated, it is incredibly scalable, supporting rapid expansion.

  4. Increasingly Preferred Partner for B2B FX

    FlashFX enables its B2B clients to transact in various currencies into and out of Australia at very competitive transaction rates and settlement times compared to banks / other financial institutions. Transactions can be executed and settled in minutes.  Partners overseas to date include Thunes, Wallter UAB, MoneyMatch, iPayRemit, Al Fardan, TML Malaysia and many more unnamed ones.

  5. Secondary B2C Offering, Ready to Take on Existing FX Providers

    FlashFX is able to simplify and enhance international transfers. On average, users save 300% to 500% on transaction fees, and can transact at speeds unmatched by current market participants. Leveraging digital payment technology, via Ripple and by removing corresponding banks from the process, FlashFX is able to offer a more secure transfer process.

  6. Experienced Management Team and Advisory Board

    Distinguished leadership team with over 40+ years of international experience across payments technology, banking and financial service, compliance and technology. Management is complemented by a well-connected advisory board who have placed the business in a strong position to capitalise on a growing pipeline of work across the international payments scene.


Crowdfunding Australia

FlashFX is a cloud-native international payments platform, designed from the outset to be efficient and automated, where possible. Most of the processes are automated and built in-house, such as KYC verification, AML, PEP and sanctions monitoring, ongoing transaction monitoring, regulatory reporting as well as numerous online, fraud detection methods, biometric user validation and much more.

FlashFX is an early adopter of Ripple blockchain technology, using its power to revolutionise the Australian international payments market. Benefits include faster, safer, cheaper and more efficient transactions. 

With access to RippleNet and the On-Demand Liquidity solution from Ripple, FlashFX is connected to 350+ financial institutions worldwide, offering a payment gateway in and out of Australia, coupled with an unique local banking solution and infrastructure, offering an efficient and where possible real-time collection and distribution method.

Revenue Model

Crowdfunding Australia

FlashFX generates revenues via two core streams: B2B channels and B2C channels. B2B generally refers to FlashFX facilitating FX transfers for financial institutions while B2C refers to FlashFX making transfers for customers directly via their website and technology. B2B is the core focus for the company. 

There are a wide range of partnership opportunities in Australia and globally to assist the Business in generating a strong revenue base – B2B and B2B2C partnerships with neobanks, traditional banks, payment platforms and money service businesses who are looking for solutions to the problems with the traditional correspondent bank model.

Why Equity Crowdfunding

Crowdfunding Australia

FlashFX has decided to raise capital through equity crowdfunding in order to give back to its early-adopters and provide them with the chance to own a part of the business. 

Equity crowdfunding, as a disruptive force in finance, also aligns well with the mission of the company. FlashFX intends to disrupt the global financial exchange market with new innovative technologies, automation and efficiencies gained for our customers and the business.

The company will use the capital to ramp-up its operations, further enhance its tech and boost its business development team to secure a leading position in the global payments market, as well as meet the current demand for its B2B services. 

Market Overview

Crowdfunding Australia

Flash FX is disrupting the traditional money transfer industry for consumers and enterprises, which is driven by global remittance and foreign exchange transactions. Globally, the remittance market is worth US $682.6bn (2018) and is predicted to grow at a CAGR of 3.9% to 2026. This is primarily driven by increasing globalisation of markets, individuals transfer money abroad to their home country or to family and friends living abroad. 

Traditionally, Australians have used local banks to transfer money internationally. A report by the world bank and ACCC found that Australians were paying more than global peers for sending money abroad. It is estimated that it is 11% more expensive than the G20 average, 13% more expensive than the UK and almost 40% higher than the US. 

In Australia, the money transfer industry continues to grow because of technology enhancements, a falling Australian dollar exchange rate and the global economy acting as a tailwind. In 2018, the World Bank estimated that bilateral remittance between Australia and other nations reached US $20.1bn, increasing from US $15.1bn in 2012. This is likely boosted by Australia’s high net migration rate which has increased the demand for overseas money transfer services. With COVID-19 in the rear-view mirror, international migration and labour mobility will likely continue to increase. 

Expansion Plans

Crowdfunding Australia

FlashFX has a long list of prospective B2B clients in the pipeline. As the core Australian partner for Ripple, the business already has access to 400+ RippleNet bank and non-bank financial institutions globally. 

Although FlashFX’s software is complementary for both B2B and B2C offerings, the business is primarily focussed on the following B2B segments for growth:


Flash Connect:

  • Overseas financial institutions with AUD payment distribution and collection needs
  • Domestic financial institutions with international payment distribution needs, especially with capabilities for both traditional and blockchain payments
  • Domestic financial institutions with domestic AUD collection/distribution needs


Flash Manage

  • Domestic financial planning and investment advisory business with international payment distribution needs

Client feedback to date suggests that FlashFX’s technology platform, payments distribution and superior banking infrastructure capability present a very appealing value proposition. Consequently, their pipeline of new business opportunities is growing rapidly.


Team Member


Director and COO

Nicolas held financial markets and investment banking leadership roles at Westpac and UBS accumulating 15+ years across Australia, Europe, US and Asia. Seeing the void in Australia around technology-led international payments was what inspired him to co-found FlashFX. He currently manages daily global operations, with a focus on business development and partner engagement.

Team Member

Vasly Boroviak

Director and CTO

Vasyl is a forward-looking software engineer with a theoretical physics background who has extensive experience in helping start-ups successfully scale their business. Although his primary focus areas are team development and company growth, Vasyl is also a leading contributor to a number of popular open-source projects and is an active public speaker at industry meetups and conferences.

Team Member

Andrew Porter

Advisory Board Member

Andrew has more than 20 years experience in the Financial Services sector, specifically in international payments, and has played a key role in scaling several successful fintech start-ups (OFX, Worldfirst) over the last 15 years, both in Australia and abroad. As Advisor, he is supporting the implementation of the company’s strategic vision and leading the growth across the business.

Team Member

Michael O'Sullivan

Co-Founder & Advisory Board Member

A passionate technologist and start-up innovator with over 25 years of experience building distributed systems. An entrepreneur at heart who loves making finance tech that actually works for people and seeing positive change come out of it. Along the way, Michael has led teams across local Westpac, JP Morgan and Deutsche Bank before becoming a co-founder at FlashFX.

Team Member

Dilip Rao

Advisory Board Member

Dilip Rao has over 40 years of experience with technology in banking and payment systems, most recently with Ripple Labs in New York, as Global Head of Infrastructure Innovation. He led business development and sales for Ripple across APAC and the Middle East. Dilip was also the founder of the first person-to-person payments startup in Australia and has advised commercial financial institutions as well as central bankers and regulators. Dilip holds degrees in Physics, Engineering and Business Administration and is currently based in Melbourne, Australia.

Team Member

Tim Smith

Advisory Board Member

Tim is an experienced Financial Services executive with over 25 years’ experience leading teams, growing businesses and delivering results across Private Banking and wealth management, corporate and institutional banking and corporate risk management. Tim played a key role in turning around Westpac Private Bank (2008-2016) post his return from successfully helping re-establishing Westpac Institutional Bank in Asia when based in Singapore (2004-2008).

Key Risks Facing the Business

Risk of losing Ripple access

FlashFX heavily relies on access to RippleNet and the On-Demand Liquidity solution to provide payment infrastructure. If this technology is no longer available, then the efficacy of FlashFX’s product will be hindered.

Market risk

The drivers that underpin FX transfers are difficult to predict. A decrease in FX transaction volume will jeopardise the business of FlashFX as their core business relies heavily on transaction volume.

Competition risk

FlashFX operates in the large and highly competitive market for foreign exchange services. If any larger competitor develops a faster and/or cheaper solution, it will be difficult for FlashFX to sustain their market share and grow the business. 

Key person risk

Directors are key to the business until senior management is hired. In the meantime, if any key member of the business were to leave the FlashFX, failure to adequately replace them could harm the company’s objectives.

Pandemic risk

COVID-19 has presented potential disruptions to the global economy and markets. There is a potential risk of decreased transactional volumes due to border closures or economic fluctuations which can impact FlashFX’s business in the short to medium run. 

Financial Information

For more information, please see section 2.12

Use of Funds

For more information, please see section 3.2 of the Offer Document