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Judo Bank secures USD 174 million investment

Wednesday 23 June 2021 09:17 CET | News

Small business-focused neobank Judo Bank has secured USD 174 million in capital, according to smartcompany.com.au.

The new funding is comprised of USD 124 million in equity funding, including repeat backing from 14 of its top 20 investors. The other USD 50 million is regulatory supplemental capital coming from the issuing of Tier 2 notes, with participation from ‘a small group of leading Australian fixed income institutional investors’, as stated by the company. This latest raise brings Judo’s total capital raised to USD 1.2 billion, and boosts its valuation to USD 1.9 billion.

That’s a 19% increase in value compared to the bank’s USD 284 million raise in February 2021. The fresh funding will allow the bank to double down on this growth, particularly in support of small businesses as they strive to recover following the COVID-19 pandemic and economic downturn.


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Keywords: investment, neobanks, pandemic
Categories: Banking & Fintech
Companies:
Countries: Australia
This article is part of category

Banking & Fintech