Xinja – Australia’s most successful equity crowdfund in numbers…take 2

Xinja – Australia’s most successful equity crowdfund in numbers…take 2

Xinja has set a new record, raising over A$2.5 million – the largest amount achieved from any equity crowdfunding campaign in Australia!  To beat our own record from last year (which was Australia’s largest equity crowdfund until now) was amazing and we want to thank every single investor for backing us.

“There are hundreds and hundreds of investors; mums and dads, brothers and sisters — some you know, some you don’t. They’ve backed us and trusted us to do the right thing.”

– Xinja CEO and Founder, Eric Wilson

We raised A$2,568,615 exactly. Xinja now has almost 2,500 investors -1,447 investors from this round, 1,222 from the first round and 203 investing twice. So we have over 1,200 new investors! A year along, with much excitement (and nerves) at the total increasing hourly, the most fascinating part of the whole exercise for us was learning just who would join us this time and how this compared to the first time around.

Accessibility to investment for Australians

We were keen to give ordinary Australians access to investing in Xinja again, and that factored into the minimum entry price of $255. 26% invested the minimum packet.

“We are delighted by the response to the campaign. It’s up to Xinja to show what we can do by providing a new and inclusive way of banking for people who are fed up with what has been on offer.” – Xinja CEO and Founder, Eric Wilson

The number of female investors grew significantly

We made big strides forward on the diversity front. Last crowdfund, only 17% investors were women. This time, it jumped to 27%! Whilst it’s not 50%, it’s exciting that this has grown so far – check out our Chair, Lindley Edwards’ blog on this from last year as part of our #xinjawomen series. Having more diversity, brings diversity of thought, and more relevant customer experiences.

Appetite amongst younger Aussies was strong again

We were blown away by how younger investors came along in spades this time around. 555 investors in 25-34 age category, 550 in the 35-44 year category. Younger folk bring with them high expectations for cutting edge experiences and features. We’re stoked they’ve made the decision to invest their hard earned cash in us.

“Neobanking isn’t about being of a certain generation but having a certain mindset”

– Xinja CEO and Founder, Eric Wilson

Second bite at the Xinja cherry

About 14% were people who had invested in the first crowdfund, which is testament to their confidence in their original decision.

Aussies invested for a variety of reasons 

We heard from Australians from all walks of life about why they invested in us. Some were looking for banking that was easier and simpler: “ I genuinely believe in Xinja and the vision the team is striving for. For me, it’s simpler banking, intuitive tools & access to the right info to make it easy for me to take control of my financial future ” (Michele, 32). Others were looking for a different relationship with their bank: “ A wish that my child will grow up to appreciate and receive support from a bank, not fear it. ”(Graham, 55). And others for a completely new banking experience. As Eric, our CEO, put it “This equity crowdfund campaign shows that Xinja’s call to shake up the banking sector resonates with many thousands of Australians.”

“ …A game changer. Banking so needs reform & Xinja has all the key ingredients to succeed.” – Pallav, 33

How we broke our record – in numbers
  • Total amount raised $2.56 million vs $2.44 million in the first round
  • Total Investors 1,447 in second campaign vs 1,222 in first round
  • Proportion of of female investors increased to 27% from 17%
  • 555 investors in 25-34 age category, 550 in the 35-44 year category
  • 14% were repeat investors, having bought shares in round one
  • Shares offered at $2.04 vs $1.20 in first campaign, minimum parcel was $255
  • On average, each investor invested $1,775

“We are delighted by the response to the campaign. It’s up to Xinja to show what we can do by providing a new and inclusive way of banking for people who are fed up with what has been on offer.”

– Xinja CEO and Founder, Eric Wilson

It’s a huge honour to invite investors into the Xinja family. We look forward to building our bank together and we are extra energised for the next phase.

If you’ve got any comments or questions about the equity crowdfund,  please join the conversation on our Community Forum for chat about this or anything else to do with Xinja.

 

XINJA™ (Xinja Bank Limited ACN 618 937 054) is authorised by the Australian Prudential Regulation Authority (APRA) to operate under a Restricted Authorised Deposit-taking Institution (RADI) licence until 16th December 2020.  Under this licence we are not required to meet the full ADI prudential framework. We will only offer bank accounts to the general public when we become a full ADI. You can still apply for other Xinja products. More information about Xinja’s RADI licence is available at xinja.com.au/legal

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