![Alex Bank logo](https://www.primarymarkets.com/wp-content/uploads/2023/09/Alex-Bank-Circle-Logo.png)
Trading
Alex Bank
Making Banking Faster, Fairer and more Flexible
![ALEX Video Thumbnail](https://www.primarymarkets.com/wp-content/uploads/2023/09/ALEX-Video-Thumbnail.png)
INDUSTRY
Financial
STATUS
Closed
OPEN TO
Public
Investment Highlights
Company Overview
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
![alex-bank](https://www.primarymarkets.com/wp-content/uploads/2023/09/alex-bank.webp)
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