Judo Capital says it is looking to fill an estimated USD 60 billion deficit in SME lending, has applied for a full banking license, and is on target to raise USD 100 million-plus to bring to the market.
It has been co-founded by career bankers, Joseph Healy and David Hornery. Healy has worked for ANZ, NAB, CIBC, Citi and Lloyds. He was the group executive of the NAB Business Bank. Hornery, meanwhile, is also a former NAB staffer, and has also worked for ANZ, where he was CEO in Singapore, and MacQuarie Group.
The bank is headquartered in Melbourne and employs 40 staff. After raising USD 20 millon in seed capital, it hopes to have finalised more than USD 100 million in funding in April 2018.
Its main infrastructure has been provided by Itoc, a cloud-based tech company.
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