Judo Bank
 | |
| Industry | Financial services |
|---|---|
| Founded | 28 March 2018 |
| Headquarters | Melbourne, Australia |
Key people | Founders Alex Twigg, Chris Bayliss, David Hornery, Jacqui Colwell, Joseph Healey, Kate Keenan, Mal Hiscock, Tim Alexander |
| Products | Busness Banking, financial and related services |
| Website | www |
Judo Capital is an Australian NBFI focused on small and medium-sized enterprise lending
History
Founded with an intial seed investment from an Australian consortium of family offices, led by BRW Rich List businessman Geoff Lord[1]
Followed by one of Australia’s largest pre-revenue capital raisings, Judo Capital launched in March 2018, raising more than $100 million from Australian and international investors, co-ordinated by Ironbridge Capital[2][3][4]
Former National Australia Bank executives — including co-founders Joseph Healy, David Hornery, Alex Twigg, Tim Alexander, Chris Bayliss and Jacqui Colwell are behind the business —[5]
Operations
Judo Capital is following the SME challenger bank model developed by the Aldermore, Shawbrook Bank and OakNorth Bank in the UK.[6][7]
Political Commentry
Victorian Minister for Trade and Investment, Philip Dalidakis said “By bringing innovative companies like Judo Capital to Victoria, we’re helping local businesses, growing the economy and creating jobs.”[8][9][10]
Small Business & Family Enterprise Ombudsman Kate Carnell says Judo's launch is well timed with the lending shortfall continuing to grow. "There is no competition," Ms Carnell said. "The big four banks have 80 percent plus of the SME lending market and they mostly don't lend except if it is secured against property and that means access to capital is very difficult for many SMEs."[11]
Productivity Commision submission[12]
Technology
Judo Capital has to created a cloud infrastructure and API service fabric[13][14] including a private mobile 4G cloud to create pop-up offices allow staff to work from anywhere[15][16]
Licences
Australian Credit Licence 501091
References
- ^ http://www.afr.com/business/banking-and-finance/judo-capital-takes-fight-to-big-four-on-sme-lending-20180323-h0xwfk
- ^ "Judo Capital takes fight to big four on SME lending". 25 March 2018.
- ^ "» Judo Capital Media Release 27th March 2018". judocapital.com.au.
- ^ Randall, Steve. "Ashurst advises Australian challenger bank on AU$100m capital raising". Australasian Lawyer.
- ^ "SME lender Judo Capital launches with a focus on building relationships with customers - Startup Daily". 27 March 2018.
- ^ Bindi, Tas (27 March 2018). "Former NAB execs officially launch new SME lender".
- ^ "Australian NeoBank Judo Capital Will Focus on SME Banking". 30 March 2018.
- ^ "Innovative Lending To Boost Victoria's Finance Sector". 27 March 2018.
- ^ "Innovative lending to boost Victoria's finance sector". 27 March 2018.
- ^ http://www.invest.vic.gov.au/news-and-events/2018/april/new-sme-focused-bank-headquarters-in-melbourne
- ^ Waters, Cara (26 March 2018). "Heat on big four as new bank launches with SME focus". The Sydney Morning Herald.
- ^ "Commission report" (PDF). www.pc.gov.au.
- ^ "Small Business Lending Platform putting customers first".
- ^ "Judo Capital Case Study - Amazon Web Services (AWS)". Amazon Web Services, Inc.
- ^ "SME banking startup Judo Capital taps Over The Wire for telecommuting network". CRN Australia.
- ^ https://www.bankingtech.com/2018/03/australian-challenger-bank-judo-capital-launches/