Judo Capital

Judo Capital was founded with an initial seed investment from an Australian consortium of family offices, led by businessman Geoff Lord[1]

Followed by Australia’s largest capital raising of 2018,[2] Judo Capital launched in March 2018, raising more $140 million from Australian and international investors, coordinated by Ironbridge Capital[3][4][1][5][6]

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.[7]

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.[3][8][9]

Former Australian Treasury Secretary John Fraser joined the board of Judo Capital, alongside former Federal Small Business Minister Bruce Billson.[10]

In November 2018 Credit Suisse increased their interest in Judo with a $350 million debt facility.[11][12][13] followed by a $100 million facility from Goldman Sachs in April 2019 [14][15]

Apr 2019 The Australian Prudential Regulation Authority announced it had granted Judo Bank Pty Ltd a licence to operate as an authorised deposit-taking institution (ADI) without restriction following its application in May 2018. As part of the license grant the business changed its name from Judo Capital to Judo Bank.[16][17]

June 2019 Judo closes series B round with $345 million in firm commitments and an unnamed institution granted an extension of a few weeks to complete due diligence, with total expected to exceed $400m. [18][19]

August 2019 After the latest $400m raising, new investors now include the €23bn Paris and London fund Tikehau Capital, and the $US105bn Boston-based alternative investment firm Bain Capital.[20]

September 2019 Judo enters the retail deposits and named as best Aussie startup to work for, according to LinkedIn’s second annual top startups list.

November 2019 KPMG and H2 Ventures Global Fintech 100 list ranks Judo Bank at #33 [21][22]

January 2020 Judo lends $1B to Australian businesses raising and another $1B in digital retail term deposits [23][24]

March 2010 Judo Bank signs a further three-year, $350 million committed debt facility with Citi Bank bringing the total to $1billion on top of the $1.3 billion in government-guaranteed customer deposits. "As in the global financial crisis, deposits are flowing to the banking sector, including us" said David Hornery Co CEO [25]

April 2020 The government announced on Thursday it would invest an initial $250 million into Judo's lending warehouse through the Australian Office of Financial Management's (AOFM) Australian Business Securitisation Fund and a further $250 million through its recently announced Structured Finance Support Fund (SFSF). [26][27][28][29]

May 2020 Judo Bank has raised $230 million in fresh equity at a post-money valuation north of $1 billion, from existing investors.[30][31][32][33][34]

Judo Capital is following the SME challenger bank model developed by Aldermore, Shawbrook Bank and OakNorth Bank in the UK.[35][36]

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", 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."[37]

• Official website