Judo Capital

Judo Capital
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.judocapital.com.au

Judo Capital is an Australian NBFI focused on small and medium-sized enterprise lending.

History

Judo Capital was founded with an initial seed investment from an Australian consortium of family offices, led by 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, coordinated by Ironbridge Capital[1][2][3]

Former National Australia Bank executives – including co-founders Joseph Healy, David Hornery, Alex Twigg, Tim Alexander, Chris Bayliss and Jacqui Colwell – serve on the board.[4]

Ironbridge Capital, Canadian pension fund manager OPTrust, Myer Family Investments, Abu Dhabi Capital Group, Zhong Yi Investment and Credit Suisse Asset Management, Cambooya, Inception Asset Management, Esson and CH Warman Group own shares in Judo Capital.[5][6][7]

Former Australian Treasury Secretary John Fraser to join the board of Judo Capital, alongside former Federal Small Business Minister Bruce Billson.[8]

Operations

Judo Capital is following the SME challenger bank model developed by Aldermore, Shawbrook Bank and OakNorth Bank in the UK.[9][10]

Political commentry

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]

References

  1. 1 2 "Judo Capital takes fight to big four on SME lending". 25 March 2018.
  2. ↑ "» Judo Capital Media Release 27th March 2018". judocapital.com.au.
  3. ↑ Randall, Steve. "Ashurst advises Australian challenger bank on AU$100m capital raising". Australasian Lawyer.
  4. ↑ "SME lender Judo Capital launches with a focus on building relationships with customers - Startup Daily". 27 March 2018.
  5. ↑ https://www.afr.com/business/banking-and-finance/financial-services/startup-sme-bank-judo-capital-raises-140-million-20180731-h13e3i
  6. ↑ "Heavyweights write big cheques for small business lender Judo Capital". Financial Review. 2018-05-09. Retrieved 2018-06-02.
  7. ↑ https://www.businessinsider.com.au/digital-bank-startup-judo-capital-equity-raise-2018-8
  8. ↑ https://www.afr.com/business/banking-and-finance/financial-services/john-fraser-joins-board-of-judo-capital-20180912-h159xv
  9. ↑ Bindi, Tas (27 March 2018). "Former NAB execs officially launch new SME lender".
  10. ↑ "Australian NeoBank Judo Capital Will Focus on SME Banking". 30 March 2018.
  11. ↑ Waters, Cara (26 March 2018). "Heat on big four as new bank launches with SME focus". The Sydney Morning Herald.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.