Startup · $458m raised
Every investor coverage indicates participated in a round Xinja raised.
| Investor | Rounds | Invested |
|---|---|---|
| World Investments | Unnamed stage | $433,000,000 |
Companies Xinja acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
Stories naming Xinja. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Startup Daily's The Ask column pitches Maslow, a Melbourne fintech whose founders are seeking crowdfunding on Birchal to build a subscription platform selling financial services without profit margins.
Crowdfunding platform Birchal has opened a new raise on its own site, seeking $3 million; the piece recalls its 2022 raise, 2023's top platform raises and several CSF-funded failures and a listing.
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.
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.
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AfterWork Ventures' first-birthday post recalls its founders' angel record, a 2019 micro-fund, a ten million dollar first close five months in, and the launch of its NFT project.
Also AfterWork Ventures
Volt has bought Australian Mortgage to add digital mortgage approvals, paying mostly in shares; the piece recalls AFG's $15m investment in Volt, plus Xinja's shutdown and NAB's $220m buyout of 86 400.
Also Australian FinTech
Neobank Volt raises $15 million from mortgage group AFG to expand its Banking-as-a-Service offering, with white-labelled products planned for AFG's broker network. The piece also recalls sector turmoil, including Xinja's closure and 86 400's sale to NAB.
Also SmartCompany·Startup Daily·SmartCompany·Australian FinTech
Brisbane lending and payments startup WLTH has opened a $5 million seed round to grow its platforms and launch new products, and has recently added a chief producer officer and a chief technology officer.
Also Startup Daily
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.
Also Startup Daily
Daily tech roundup covering a pardon for a ex-Google engineer, Jack Ma's reappearance, a cyberattack on Malwarebytes, Facebook's privacy settlement, Cruise's multi-billion raise, and neobank Xinja winding up.
Weekly newsletter rounds up venture news: multiple Australian and regional VC fund closes, startup raises including Brighte and Judo, acquisitions of eNett and Sine, neobank collapses, and new revenue-based lenders.
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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.
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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Techboard's periodic funding analysis reports record Australian startup funding in March and April 2020, driven by large neobank raises, while declining deal counts suggest an emerging Covid-19 downturn.
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
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.
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
NAB is buying neobank 86 400 for roughly $220 million, folding it into UBank, shortly after rival Xinja said it would quit banking, leaving fewer independent Australian neobanks standing.
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Neobank Volt has raised an oversubscribed $70 million Series C as it rolls out products and prepares for a possible IPO, with rivals 86 400 and Xinja also announcing new offerings.
Also SmartCompany
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.
Tech roundup: Baron Cohen attacks social media platforms, Tesla's Cybertruck debut, cloud-kitchen startup Zoom's SoftBank backing, YBF's fintech diversity award winners, and Uber losing its London operating licence again.
Techboard's quarterly report tallies record funding for Australian startups in early 2019, led by the PEXA sale and Airwallex's raise, while flagging that private investment growth may be slowing.
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.
Profile of payments startup Split Payments covering its Byron Bay base, founding team, open banking products, its Series A round closed in late 2018, and several industry awards.
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.
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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Afterpay, Airwallex and Up Bank took major prizes at the 2019 Finnie awards in Melbourne; Airwallex's $141 million raise won biggest raise and Liberty's purchase of MoneyPlace took deal of the year.
FinTech Australia's 2019 Finnies awards recognised Airwallex with three trophies including Biggest Raise, Afterpay as FinTech Organisation of the Year, plus wins for Up, Zuper, Xinja, Athena and others.
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.
Techboard's quarterly report finds March 2019 Australian startup funding passed $2.7 billion, driven by the PEXA sale, while Airwallex's Series C created the period's second local unicorn, though a downturn is forecast.
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
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.
Volt Bank gained a full banking licence and took an $8.4 million investment from debt collector Collection House, which will also refer customers to Volt's money-management tools.
Also Australian FinTech
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
A year-end roundup of Australia's largest 2018 startup capital raises, covering Judo Capital, Deputy, Airwallex, Inflazome, SafetyCulture, Culture Amp, Canva, Havven, Athena, Ansarada and Data Republic, with investors and earlier rounds recalled.
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