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.

Posted on January 17, 2018