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Alex Bank

Making Banking Faster, Fairer and more Flexible

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INDUSTRY

Financial

STATUS

Trading

OPEN TO

Public

Investment Highlights

Company Overview

Team

News

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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

Simple

Easy to understand products, uncomplicated forms, and a 100% paperless for personal loans.

Fast

Leveraging cutting-edge technologies for snappy applications, fast approvals, and a seamless digital experience.

Human

Teams of real people working to provide you with faster, fairer and more flexible banking solutions

Fair

Easy to understand terms and fair market-leading rates with no upfront or ongoing fees

alex-bank

Team

  • Management

  • Directors

Simon Beitz

Co-Founder & CEO

Craig Fenwick

Co-Founder & CFO

John Heaton

Chief Tecnology Officer

Sascha Hunt

Chief Growth Officer

Steve Kluss

Chief Product Officer

Michael McLennan

Chief Risk Officer

Jeff Nel

Chief Operations Officer

News

Alex Bank ramps up 2022 growth plans

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Alex Bank pitches $1b loans and deposits in Series D funding round

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Alex Bank partners with Platform Finance

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