Neobank 86 400 raises EUR 31 mln in Series A fundraising

Friday 10 April 2020 13:36 CET | News

Australia-based neobank startup 86 400 has announced a EUR 31 million Series A fundraising round led by Morgan Stanley

The round includes funding from an Australia-based superannuation fund, other fund managers, high net worth individuals and family offices. The company did not name any of the other investors.

86 400, on the market since September 2019, has developed seven account products and offers home loans and shared accounts, which is in a pilot phase.

The company, which launched in September 2019, says it has 170.000 accounts and expects to reach 500.000 accounts in the next 12 months.

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Keywords: Morgan Stanley, Australia, neobank, 86 400, loans
Categories: Banking & Fintech
Countries: Australia
This article is part of category

Banking & Fintech