Spotcap launches Australian fintech scholarship

In a national first, the fintech lender will pay to put aspiring youth through university

Spotcap has announced a $10,000 scholarship to support fintech talent and promote career opportunities

Sydney online lender Spotcap has launched a fintech scholarship in Australia, awarding A$10,000 for budding young fintech aspirants.

The aim of the programme is to help build up a reservoir of fintech expertise in Australia, which Spotcap says there is a shortage of. The scholarship will support one student of either undergraduate or master’s level, pursuing studies in a fintech-related field.

Alongside the scholarship, Spotcap will also offer one paid internship at its Sydney office in 2018.

“We need to ensure that fintech has a healthy talent pipeline here in Australia,” said Lachlan Heussler, Managing Director of Spotcap Australia.

“In creating the Spotcap Scholarship, we will both support and encourage the industry, raising awareness of career opportunities and fostering the talent underpinning its future growth.”

Fintech is one of Australia’s fastest growing finance sectors. Fintech lending in particularly on the up, and is expecting to reach A$4 billion in revenue by 2020.

Its continued success is closely connected to the access and availability of local talent, in the short as well as long-term. Through the Scholarship, Spotcap will build the connection between Australian educational and fintech institutions and highlight career opportunities.

Fintech Australia, the national fintech lobby, has lent its support for the program, citing the benefits of incentivising local students at a grassroots level.

“Fintech is a rapidly growing industry and we need to do everything we can to grow our talent pool and spread the word about the great career pathways in this industry,” said Danielle Szetho, CEO of Fintech Australia.

“We know that many fintech companies are experiencing critical skills shortages. The Spotcap Fintech Scholarship is a great initiative to inspire a new generation of university students to take part in Australia's boom industry, and the future of financial services.”

Spotcap was established in Australia more than two years ago, providing flexible and accessible funding solutions of up to $250,000 to business clients. The company has anecdotally found that awareness surrounding fintech and the career pathways to this emerging industry remain relatively unknown.