Powered by MOMENTUM MEDIA
subscribe to our newsletter

Judo Bank completes $280m capital raise

The SME lender has raised $280 million in its latest capital round, taking its post-money valuation to over $1.6 billion.

Judo Bank has announced that it raised more than $280 million in equity in its recent Round 4 (R4) capital raise and will utilise the funds to “continue to expand the bank’s operations nationally”.

The latest round builds on the $230-million R3 capital raise that was finalised in May of this year.

According to the challenger bank for small and medium-sized businesses, the post-money valuation of the bank now exceeds $1.6 billion, up 60 per cent from its position in May.

Judo’s co-founder and co-CEO, David Hornery, commented: “We are delighted with the strength and consistency of support received from the investment community with this latest $280 million capital raise.

Advertisement
Advertisement

“This year alone, we have raised over half a billion dollars in funding across two rounds in the most  challenging market conditions in living memory, with funding coming from some of the best-known and most widely respected private and institutional investors in the world.”

Mr Hornery noted that R4 saw strong commitments from new investors, with over 60 per cent of total equity raised coming from new major institutional investors. 

“At the same time, over 70 per cent of our largest current shareholders chose to resubscribe and increase their stake in Judo,” he said. 

Mr Hornery added: “It is during times like those we’ve experienced over the last year that commitment and consistency of support of the SME community are imperative, and as confirmed by APRA figures, Judo Bank has grown its lending book by over 60 per cent since the start of the pandemic, in line with our commitment to do exactly that.”  

[Related: Judo secures $350-million facility]

PROMOTED CONTENT


Judo Bank completes $280m capital raise
Judo Bank completes $280m capital raise
mortgagebusiness

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

Annie Kane

Annie Kane is the editor of The Adviser and Mortgage Business.

As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts. 

Contact Annie at: This email address is being protected from spambots. You need JavaScript enabled to view it.

Latest News

The IMF has urged Australia to consider reforms around housing supply and lending standards, citing apprehension around the upsurge in prope...

Treasurer Josh Frydenberg has backed the net-zero emissions by 2050 target, warning failure to comply will hurt banks’ access to capital a...

The regulator is set to release information setting out how it would use macroprudential policy tools, after expressing concerns around the ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.