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But Pygg’s market opportunity arises largely because banks are, well, banks. Even though most banks offer a variety of mobile transactions, they are hardly easy to use. A maze of links, codes and authentication, and sometimes having to remember a friend’s phone number etc., riddle the user. And then there is the cost a well.
Pygg’s stock is rising. The Australian-born Twitter payment pioneer has banked $600,000 in new angel capital. Pollenizer, the startup incubator, raised most of the amount from a bunch of new and previous investors.
Melbourne’s first startup accelerator AngelCube has just announced the names of the four companies that will take part in their inaugural program. RentWant.com, Lexim.com.au, TestPilot.me and Goodfil.ms have been selected to receive $20,000 seed capital, marketing support, travel opportunities, office space and mentorship from experienced entrepreneurs.
A group of experienced entrepreneurs and angel investors are rolling out a seed fund and incubator aimed at early stage startups in the Melbourne area. The venture, called AngelCube, is the first of its kind for Melbourne in recent memory.