Thursday, January 18, 2018

Neobank Xinja raises money from a Crowdsourcing campaign in days

Australia’s startup, Xinja , a fintech to provide a digital banking platform, has raised $500,000 in less than 24 hours from hundreds of retail investors..

The money was raised from “EQUITISE” - - 1 of 7 crowdfunders who have recently got ASIC approved licences.

Within 18 hours, the startup had raised over $500,000, and is currently sitting at more than $750,000 in contributions.

CEO Eric Wilson says that it has taken 3 months to prepare for the raise and investments have ranged from $250 to $2000 per retail investor.

The money raised is part of a $10m series B funding round that will help the “neobank” develop The money raised by Xinja through equity crowdfunding will be used to help buildout its tech platform and mortgage management system.

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