Xinja has recently closed a $5m round of funding, ahead of big launches planned for 2018, including a pre-paid card and mortgage product. Richard Gluyas of The Australian discusses the latest funding round, along with the planned equity crowdfunding*, a partnership with Equitise which aims to raise between $500,000 and $3m. He also covers the regulatory changes, potentially allowing businesses like Xinja to launch in a phased approach with a restricted licence, as well as Xinja's plans for future raises. (Please note, The Australian uses a paywall, so subscription is required).
*Like any investment, Crowd-Sourced Funding (CSF) is risky. Investors may lose their money and the business may not achieve its objectives. You should consider the CSF offer document and the general CSF risk warning contained in the offer document in deciding whether to apply under the offer.