Category: Radio New Zealand

Source: Radio New Zealand

Financial technology firm Hnry has secured more than $30 million in an oversubscribed raise.

The accounting software firm, which focused on sole traders, said the raise was led by Movac, while long-time backer Icehouse also increased its stake.

The Wellington-based firm had now raised almost $100m since 2018, and Hnry said it now processes nearly 1 percent of the country’s tax take – highlighting its strength in the New Zealand market.

The company was founded by Claire and James Fuller in 2017.

“Hnry is now in New Zealand, Australia and the UK, and in every market we’ve experienced rapid growth,” co-founder James Fuller said.

“In Australia, our market share has grown sevenfold since 2020, and Hnry UK is growing six times faster than our combined Australasian market since launching earlier this year,” he said.

Fuller said the latest funding round would accelerate international growth, support new development across all markets, and the company was “just getting started”.

“Sole traders don’t want to spend hours on admin or be stuck in accounting software each week; they want to focus on growing their business and enjoying work-life balance,” he said.

The raise also marked Movac’s first investment in Hnry.

“We’re excited to support their rapid expansion in Australia and the UK, especially with the UK’s shift to digital taxation presenting a major opportunity to scale,” Movac general partner Jason Graham said.

Graham would join Hnry’s board as part of the round.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Superannuitants are being warned not to fall for a scam that claims they’re in for a pre-Christmas bonus.

A hoax circulating online claims that people who are on NZ Super are to receive a “one-off December bonus” a few weeks before Christmas.

The payment is alleged to be $350 for single people and $560 for couples, as well as an extra $50 for people in Auckland, Wellington and Christchurch and $40 for people with disabilities.

The websites seem to be intended to funnel advertising and possibly collect identity details.

The Ministry of Social Development confirmed that the offer was not real.

“We are aware of fake information being targeted at MSD clients and older people about December bonuses, benefit increases, or changes to NZ Super,” group general manager of client service delivery Graham Allpress said.

“We want to assure people these claims are not true. If you want up-to-date information on your benefit or NZ Super, check the Work and Income website or MyMSD.

“These posts and websites are created by dishonest actors for dishonest reasons, and are always best avoided.”

‘It’s sad when it affects grandparents’

Financial adviser Rachelle Bland, of Cliffe Consulting, said she became aware of it when she had clients get in touch, excited about the possibility of extra money for Christmas.

She said it was disappointing that people were being targeted by the hoaxes.

“It’s sad when it affects grandparents, people trying to make ends meet.”

Meanwhile, BNZ said half of the country’s small to medium businesses had responded to a scam attempt in the past year. For those that suffered an actual breach, the average loss was just over $5000.

BNZ head of fraud operations Margaret Miller said scammers would always find ways to exploit gaps.

“Business owners are alert to the danger, but they are also time-poor and juggling multiple priorities. The reality is that scammers are becoming increasingly sophisticated in their tactics.

“Scammers know that breaking through technical security is difficult, so in many cases they’re bypassing the technology entirely and targeting the person sitting at the keyboard.

“Business owners are generally doing well with technical defences like antivirus software and firewalls, but criminals are going around that, targeting the busy human at the desk who is clearing invoices or answering the phone.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Half of small and medium sized businesses (SMEs) have been targeted by scams over the past year, costing victims an average of $5000 each time.

BNZ said its latest survey indicates a concerning gap in scam defences deployed in SMEs, as nearly half struggled to prioritise scam education and cyber training for staff.

Nearly two-thirds (64 percent) of SMEs said scam activity had increased in the last 12 months, though 45 percent did not consider cyber education a key priority.

“Technology is a vital layer of defence, but an educated team is just as important. When staff feel confident spotting the signs, they become the business’s best asset against scams and fraud,” BNZ head of fraud operations Margaret Miller said.

She said scammers were good at exploiting security gaps. Security could be breached by clicking an email link and opening a message, about 50 percent of the time.

“Business owners are alert to the danger, but they are also time-poor and juggling multiple priorities. The reality is that scammers are becoming increasingly sophisticated in their tactics.”

She said 53 percent of business owners rated themselves as “prepared” for a scam, while the data showed 49 percent of that same group still engaged with a scam attempt.

“Scammers know that breaking through technical security is difficult, so in many cases they’re bypassing the technology entirely and targeting the person sitting at the keyboard . . . targeting the busy human at the desk who is clearing invoices or answering the phone.”

She said the costs to businesses averaged $5000, but the consequences could be more significant.

“Of the SMEs that fell victim to an online scam, 21 percent suffered a business financial loss and 26 percent a personal financial loss, while 30 percent suffered data loss.

“Scammers aren’t just after your business accounts. The data shows they are often successful in targeting personal finances or the business’s data, even if they don’t manage to steal money directly from the company accounts.”

Cold calls and fake invoices on the rise

Miller said the data also indicated businesses were far more likely to be targeted by “old school” deception than high-tech hacks.

While only 2 percent of businesses were targeted by ransomware, traditional deception and social engineering scams were much more prevalent:

• 27% of businesses were targeted by cold calls requesting sensitive company information
• 17% faced bank impersonation attempts
• 10% encountered invoice scams involving altered bank details

“Scammers prey on the fact that when we’re rushed, distracted, or juggling multiple things we’re more likely to act first and think later,” she said, adding there were tools available for businesses to use, such as two-step authentication for logins, and the ability to require two separate approvals for any payment.

“We encourage all business owners to use free resources to upskill their teams – whether that is through the Own Your Online platform operated by the National Cyber Security Centre, Netsafe, or the tailored scam information for businesses available on the BNZ website.

“It is one of the most effective ways to protect your business from financial loss.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Central Wellington has the cheapest homes in the country, property data firm Cotality says, but Newmarket has had the biggest fall in values over the past five years.

It has released its end-of-year data, which it said showed a year of stagnation, with lower mortgage rates helping improve sales volumes but a sluggish economy and weak labour market keeping values down.

Chief property economist Kelvin Davidson said despite an extended “flat patch” for values, there had been activity happening.

“First-home buyers have remained very strong, hovering as high as 28 percent to 29 percent of overall purchasing activity, while 2025 has also seen a comeback by mortgaged multiple property owners.”

The data showed that Herne Bay remained the most expensive suburb in the country, with a median value of $2.6 million. It was followed by nearby Westmere and Ponsonby, at $2.2m, and Remuera at $2m.

Arrowtown and Tamahere, Waikato, were the only suburbs outside Auckland in the top 10 most expensive.

Greymouth had the biggest increase in prices over five years, up nearly 60 percent.

This was closely followed by Somerfield, Christchurch, and Hokitika, both experiencing increases of nearly 50 percent over the same five-year period.

Davidson said most of the places where prices had risen strongly were more affordable to start with, including rural locations, small towns, or lower-priced suburbs within larger main centres.

“There are two outliers, however, which are Jacks Point and Lake Hayes; both high-end suburbs in Queenstown, whose popularity among affluent buyers may have contributed to their stronger growth in 2025,” he said.

“Nowhere is booming but it’s all relative… Invercargill is a good example of that, too. Property has been moving quickly in Invercargill. There’s certainly a degree of resilience around Invercargill and that wider southern area.”

The biggest price fall in a year was in Oneroa, Auckland, down 7.9 percent in a year. It was followed by Omaha down 5.7 percent. Atawhai, Nelson was the only non-Auckland suburb in the top 10 lowest value movements.

Newmarket had the biggest fall in prices over five years, down 15.8 percent, followed by Te Aro down 15 percent and Petone down 13.2 percent.

Wellington central was the most affordable area this year, with a median value of $318,706, followed by $353,942 in Taumarunui, $365,347 in Westport and $365,657 in Auckland Central.

Davidson said Wellington central was affected by being an “apartment market”. “Apartments just carry lower values than standalone houses. I’d put most of it down to the composition of the market … but there is a role to play for the downturn in Wellington.

“Wellington central was priced a lot higher four or five years ago. Wellington, let’s face it, has been a pretty soft market.”

He said the only suburbs included were those with at least 1000 dwellings so there could be smaller parts of the country with lower values again.

He said Auckland was notable in that it had most of the highest-value suburbs but was also home to some of the weaker performing areas.

“There is still an affordability challenge in Auckland and the fact that housing is still a bit of a stretch. You’ve had a sluggish sort of economy and economic confidence around Auckland, as well as a decent supply pipeline still coming through.

“All those things are consistent with each other. So you can have high value real estate, but of course, the flip side of that is that affordability is still a challenge, and that’s been a handbrake on growth this year.”

He said the question now would be what happened next year.

“There seem to be those fundamentals coming together for a bit more growth in prices, but maybe not a fresh Covid-style boom.”

Rents had generally been soft through the year, he said.

“Given the continued decline in net migration, we’ve also seen rents have weakened this year. There have been outright falls in markets such as Auckland, Wellington, and Christchurch which don’t happen often, so it’s been a tricky period for any investor looking to boost their income. Of course, it’s been a more favourable period for tenants.”

Renters in Gladstone, Invercargill, had the biggest increase in rents in the year, up 18 percent, followed by 17.3 percent in Waipawa, and 16.9 percent in Timaru. Long Bay in Auckland had the biggest rent drop, down 17.1 percent, followed by Hilltop in Taupō down 13.8 percent and Ngaio in Wellington down 13 percent.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand