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Xinja pulls largest Aus equity crowdfunding

Written by Anton Murray Consulting on . Posted in Investment Banking News, News

InvestorDaily

Xinja Bank has raised nearly $2.6 million in its second equity crowdfunding campaign, the largest achieved in the country, with the company saying that Australians are looking to digital banking following the royal commission.The amount raised from the sale of shares on the Equitise crowdfunding platform beat the previous record of $2.44 million Xinja raised in its first campaign early last year. Shares in this round were offered at $2.04, rising up from $1.20 in the first campaign.

According to the neobank, it now has more than 2,500 investors, with over 1,500 in this round and 1,222 in the first, and more than 200 participating in both rounds. The majority of investors, Xinja said, were aged between 24-44, with the percentage of women backing the campaign increasing to 27 per cent, from 17 per cent in the first round. “This equity crowdfund campaign shows that Xinja’s call to shake up the banking sector resonates with many thousands of Australians,” said Eric Wilson, chief executive and founder, Xinja.

The rest of this article can be found at investordaily.com.au.