Alex Bank logo

Trading

Alex Bank

Making Banking Faster, Fairer and more Flexible

ALEX Video Thumbnail

INDUSTRY

Financial

STATUS

Closed

OPEN TO

Public

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

Ask us a Question

Send us a message and we'll connect soon


Become a member

Become a member and elevate your experience with us!

Already have an account? Login


window.lintrk('track', { conversion_id: 14400772 });