Mastercard Joins $12M Series A in Australian Fintech WeMoney

Mastercard has joined a $12 million Series A funding round in Australian fintech WeMoney, a financial wellness and comparison platform helping users pay down debt and make smarter money choices. The round was led by Laurence Escalante—best known for his success in online gaming—through his family office, alongside existing backers BetterLabs, Dorado Capital, and Eastcourt Capital.

WeMoney’s app helps Australians compare and switch financial products like credit cards and loans, track spending, and access better deals through financial insights. The platform has attracted over one million downloads since launch, with about 8% of users returning monthly.

The investment from Mastercard follows a commercial deal that enables WeMoney to leverage Mastercard’s Open Banking technology in Australia. The fintech now plans to build on this foundation with AI-powered lending tools and geographic expansion into South-East Asia, New Zealand, and other Consumer Data Right (CDR) compliant markets.

The deal values WeMoney at $100 million and puts it on track for a future ASX listing.