Fintech startup Parpera has backed away from a plan to wrap itself in a neobank label from early on.

The firm’s pitch for seed funding on the Equitise platform (for now at the EOI stage) has been amended to remove reference to this word.

“Finally, a neobank for Australian businesses, freelancers, and entrepreneurs,” was included in the pitch when launched on the platform on Thursday last week.

The motto now reads “Finally, a better way for Australian businesses, freelancers, and entrepreneurs to manage their money.”

Asked about the change in heart, Daniel Cannizzaro, the CEO and co-founder said “a better way to manage your money just seemed a cleaner way to do it.

“We didn’t want to mislead.”

And did anybody – APRA, for example – lean on them?

“No.”