Ledger.

Company

Australian Prudential Regulation Authority

Coverage

Stories naming Australian Prudential Regulation Authority. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.

Seed $11.5m

Ex-Atlassians score an exit for their AI data security startup after just two years

RecordPoint has bought Redactive AI, a Melbourne data security startup founded by former Atlassian staff, for an undisclosed sum two years after its founding; Felicis and Blackbird co-led its 2024 seed round.

News

RecordPoint launches a free tool for founders to triage data for AI use and track access

Australian data governance company RecordPoint has launched RexCommand, a free platform helping startups detect unauthorised AI tool use and enforce AI policies, with CEO Anthony Woodward warning about shadow AI risks for businesses.

Funding announcement

Former Optus CEO Kelly Bayer Rosmarin joins Airwallex board

Airwallex adds ex-Optus chief Kelly Bayer Rosmarin and four other directors to its subsidiary's board while it pursues an Australian banking licence; the article also recaps the fintech's US$300 million Series F.

4 deals

Neobank Volt is shutting down after failing to find fresh capital

Startup Daily reports neobank Volt is winding up, returning deposits and selling its mortgage book after a failed capital raise, recapping earlier raises by Judo Bank and Alex plus past neobank failures and acquisitions.

Exit / M&A

Volt urges customers to empty their deposit accounts as the neobank pioneer exits the banking sector

Volt, Australia's first licensed neobank, is closing its deposit-taking business and handing back its banking licence after global capital raising failed, telling customers to move funds; the article recalls Xinja, 86 400 and Judo outcomes.

Also Startup Daily·Startup Daily·Startup Daily·Startup Daily·Startup Daily

Series C $20m

Fintech Alex banks $20 million series C

Digital lender Alex closed a $20 million Series C valuing it above $120 million, backed by investors including Washington H. Soul Pattinson, and added three new directors to its board.

Also Startup Daily·Startup Daily·Startup Daily

Unnamed stage $433m

Xinja exits the neobank scene: What happened, and what does it mean for the competition?

Neobank Xinja is shutting its Australian banking operations, handing back its ADI licence and returning deposits, blaming COVID-19 and difficult fundraising, while pivoting to its US share trading product.

Also Startup Daily·Startup Daily·Startup Daily·Startup Daily·SmartCompany·SmartCompany·SmartCompany·Startup Daily·Startup Daily·Startup Daily·Startup Daily

Funding announcement

New digital banks 86 400 and Xinja are the first to launch app-based retail accounts

Challenger banks Xinja and 86 400 reach APRA licensing milestones and launch app-based retail transaction and savings accounts, becoming the first neobanks to offer Australian retail deposit products.

5 deals

Challenger bank Judo says it will lend $1 billion to SMEs by the end of 2019

Melbourne challenger bank Judo raised a record A$400 million Series A, drawing new offshore backers Bain Capital Credit and Tikehau Capital, and aims to lend $1 billion to small businesses by Christmas.

Something wrong? Tell us