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Alex Bank

Making Banking Faster, Fairer and more Flexible

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Investment Highlights

Company Overview

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Investment Highlights

Building the future of online banking

A complete digital full service bank that challenges traditional banking

Australia’s most awarded new bank FY22 aiming to reach A$1B in both deposits and loans in 2024

Company Overview

Trading under banking licence

As of July 2021 Alex Bank operates under a restricted banking licence

Highly experienced banking team

Working to provide faster, fairer and more flexible banking solutions

Australia’s most awarded bank in 2022

Alex Bank is about getting a share of the fast-growing Australian consumer finance market and outdoing traditional banking rivals with its technology and credit process.

The bank’s targeting profitability (on a month-by-month basis) by late next year and wants to hit both A$1B in deposits and loans in 2024. Its initial target – Australia’s consumer finance market – was said to be worth A$142B in lending assets (personal loans, credit cards, car loans, lines of credit) with an anticipated A$25B of new products or loans (including switching) in the coming 12 months.

Previous Funding

Proposing Series D funding round to raise $25M at a post-money valuation of $110M

September 16, 2021 – Alex Bank raised over A$20M in Series C funding with an estimated valuation of more than $120M

Key Investors

Findex, Clinton Capital Partners, Washington H. Soul Pattinson, Regal Funds Management, Wunala Capital, and SG Hiscock and Company