Xinja
FintechAustraliaClosed 2020
Total Raised
$70M
Peak Valuation
Undisclosed
Employees
—
Year Collapsed
2020
Business model
Digital-only retail bank offering above-market deposit interest rates.
In brief
One of Australia's first licensed neobanks, it attracted deposits by offering a 1.5% interest rate well above the major banks, but launched no lending products to generate offsetting revenue. That imbalance, combined with the COVID-19 downturn drying up further investor funding,…
See the What Happened tab for the full account.
Key facts
- Founded
- 2017
- Closed
- 2020
- Headquarters
- Sydney, Australia
- Industry
- Fintech
- Employees
- —
- Revenue
- Undisclosed
- Founders
- Eric Wilson
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Often compared with: Judo Bank, Up (86 400).