Eric Wilson

Your 90-second guide to the day in tech

Daily roundup reporting Databricks' billion-dollar Series G, Robinhood's emergency raise during the trading saga, DesignCrowd's $10 million pre-IPO funding, Xinja's wind-up vote, and record Australian venture capital in 2020.

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Neobank Xinja is shutting up shop

Xinja is handing back its banking licence and closing accounts after failing to secure promised funding, despite several past raises; it hopes to continue its delayed US share trading product Dabble.

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.

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Neobank Xinja lands a whopping $433 million from Emirati investors

Emirati investment firm World Investments is committing A$433 million over two years to Australian neobank Xinja Bank, taking a major stake, in a deal brokered by First Penny Investments.

Also Techboard·SmartCompany

5 things you should know about tech today

Tech roundup: DeepMind applies AlphaFold to COVID-19, Zoho cancels Zoholics events, Canva marks International Women's Day, Xinja pauses new savings accounts after announcing a $50 million crowdfunding raise, plus MYOB research on women shoppers.

Neobank Xinja goes hunting for another $50 million from crowdfunding

Xinja's Series D crowdfunding raise is underway, with a $20 million first tranche secured and shares offered via Equitise, valuing the neobank above $285.5 million as it reports deposit and customer growth.

Also Australian FinTech

Blazing trails and dreaming big: StartupSmart's 12 startups to watch in 2020

A year-end roundup profiling twelve startups to watch in 2020, recalling their 2019 funding rounds, grants, accelerator cohorts, partnerships and growth plans across food tech, legaltech, cybersecurity and other sectors.

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.

Xinja Bank CTO says tech, data and ethics can deliver better banking for consumers

Australian neobank Xinja Bank appoints John Pountain as Chief Technology Officer, citing his experience at Moven, BT Financial and Macquarie Group as it builds mobile-first banking technology.

Neobank Judo Bank raises $400 million in biggest-ever Aussie funding round

Small-business focused challenger bank Judo Bank has banked a $400 million round from new and returning institutional backers, reportedly the largest single raise by an Australian startup, double its original target.

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Aussie neobank race heats up as 86400 sets sights on whopping $250 million raise

Neobank 86400 aims to close a large capital raise later in 2019, while the piece recaps recent funding by Australian neobank rivals Judo, Xinja and Volt plus Airwallex and Deputy.

As Xinja scores record-breaking $2.6 million, let’s look at the biggest equity crowdfunding raises so far

A roundup of Australia's largest equity crowdfunding campaigns since the 2017 laws, led by Xinja's record raise, also covering ingogo, Jayride, DC Power Co, West Winds Gin and PT Blink, with platform executives commenting on the sector's growth.

Also Startup Daily

Five tips for getting the most out of your equity crowdfunding campaign, from founders who have been there

Advice piece where founders of crowdfunding-backed ventures share lessons on running equity crowdfunding campaigns, recalling Xinja's Australian campaign that raised two million four hundred thousand dollars.

‘Grown ups’: Neobanking sector chases customer sign ups

Australian neobanks enter a customer-chasing phase; Xinja's crowdfunding campaign quickly collected half a million dollars on top of earlier backing, while rival Up reports user growth.

Xinja launches second equity crowdfunding campaign on Equitise platform

Australian neobank Xinja has opened a second equity crowdfunding round via the Equitise platform, passing its $500,000 minimum within hours, after its 2018 campaign raised $2.7 million and it gained a restricted banking licence.

Also Australian FinTech·SmartCompany·Startup Daily·SmartCompany·Techboard·Australian FinTech