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Alex Bank

Making Banking Faster, Fairer and more Flexible

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Making Banking Faster, Fairer and more Flexible

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INDUSTRY

Financial

STATUS

trading

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

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Team


  • Management
  • Directors
  • Simon Beitz

    Co-Founder & CEO

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  • Craig Fenwick

    Co-Founder & CFO

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  • John Heaton

    Chief Tecnology Officer

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  • Sascha Hunt

    Chief Growth Officer

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  • Steve Kluss

    Chief Product Officer

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  • Michael McLennan

    Chief Risk Officer

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  • Jeff Nel

    Chief Operations Officer

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  • Greg Moynihan

    Chair & Non-Executive Director

  • Craig Manson

    Non-Executive Director

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  • Katherine Ostin

    Non-Executive Director

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  • Alex Twigg

    Non-Executive Director

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News


  • Alex Bank ramps up 2022 growth plans
    Read more
  • Alex Bank pitches $1b loans and deposits in Series D funding round
    Read more
  • Alex Bank partners with Platform Finance
    Read more

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