Emerging Fintech standout RedOwl has been awarded Most Innovative Application of AI in Finance at the annual FinTech Australia awards, better known as the 'Finnies'. It marks a rapid rise for the business, founded twelve months ago and now backed by partners including Mastercard.

Pyrmont

RedOwl, an Australian fintech startup specialising in AI-powered payments management, has been awarded the Most Innovative Application of AI in Finance at the FinTech Australia awards, known as the 'Finnies'. Founded by Chido Arulampalam and Tushan Shanmugarajah only twelve months ago, RedOwl has quickly gained industry attention, including selection for Mastercard's global accelerator program.

The company's technology enables businesses to efficiently track spending, prevent fraud, and streamline card approvals, addressing key challenges in corporate expense management. With recent seed funding from Saltwater and a growing customer base of large enterprises, RedOwl is positioned for further expansion in the financial technology sector.

AI payments startup takes out top prize

Following in the footsteps of giants like Air Wallachs and Afterpay as a Finney's winner, a name you can expect to hear a lot more of. It gives me great pleasure to give this award to Red Hour. The company only 12 months old, founded by Chido Arulampalam and Tushan Shanmugarajah. Stunned, unbelievable. We've been in business for 12 months. I know we've worked hard, I know we've got something special, but this is unbelievable. Nominated for multiple awards including Emerging Fintech and Most Innovative Product for their AI-powered payments management technology that allows businesses to track spending, eliminate fraud and for employees to have peace of mind when it comes to spending on a company credit card. What we do is they can talk to the card and instantly or instantaneously that message is sent to the approval limit above and a card limit is increased for that spend to go through without having to wait for days or weeks for something to happen. Already, the technology has caught the eye of payments giant Mastercard, selecting the team for their global accelerator program, opening up access to Mastercard's network and the world's biggest companies. And that's really a white canvas for us to solve for globally. So very excited to see, you know, Red Owls solve for that problem and keen to see where they take this from here and looking forward to a stronger partnership. And now after raising their seed round from Aussie venture firm Saltwater, they're preparing to launch with a select number of top tier customers. We already have a suite of customers and these are enterprises, minimum 100 employees and bigger where this is control and governance is a huge issue and controlling spend, controlling corporate spend is a huge issue.

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