Aussie neobank launches new equity crowdfunding campaign
Australian neobank, Xinja, has announced the launch of its second equity crowdfunding campaign, aimed at helping Australians purchase shares through equity crowdfunding platform, Equitise, and therefore joining the ‘digital banking revolution’.
The firm said the raise was open to existing investors, customers and people who registered interest and it offered shares at $2.04 each, with a minimum investment of $255, with expectations of raising up to $5 million.
According to Xinja’s chief executive and founder, Eric Wilson, the offer should attract consistent interest from investors who wanted to help shake up Australia’s banking system.
“We can now call ourselves a bank: we have a restricted banking licence, more products in development, and we have the momentum to become partners with thousands more Australians,” he said.
So far, more than 23,000 people have signed up for Xinja’s application and over 9,000 tap-and-go Xinja cards have been issued, the firm said.
Additionally, Xinja revealed its plans to obtain a full banking licence from the Australian Prudential Regulation Authority (APRA), subject to regulatory approval, in hopes of becoming a real competitor in the local banking market.
“We’re about making banking easy. We’re about banking technology that more closely resembles what people expect from innovators and disruptors, like Netflix or Uber, as opposed to old-style, bricks and mortar-based banking,” Equitise’s co-founder, Johnny Wilkinson, said.
The company also announced that it made recently two new hires, with neobank pioneer, Brett King, being appointed as its permanent adviser while Tesla senior engineer, Thomas Vilkstrom, joined its board.
AUTHOR
Oksana Patron
Recommended for you
VanEck’s Bitcoin ETF has amassed $290 million in assets in its first year, but the ETF provider has said financial advisers remain skeptical of the asset.
State Street has rebranded its State Street Global Advisors arm, which has US$4.6 trillion in assets under management, following a series of deals with financial services firms in recent months.
Northern Trust Asset Management has appointed a new head of international and responsible investing.
More than 20 winners have been revealed for the annual Fund Manager of the Year Awards.
