B2B Payments

SMB-Focused Lender Judo Bank Attains Unicorn Status

Judo Bank attains unicorn status

Australia’s Judo Bank has attained unicorn status, according to FinTech Magazine, meaning it has achieved a valuation of at least $1 billion.

Judo Bank, a challenger bank, received $148 million in a Series C funding round from investors, including existing backers like Ironbridge Capital and Bain Capital. The bank focuses on small- and medium-sized business (SMB) lending.

“We now have one of the strongest capitalized tier-1 ratios in the country and intend on rapidly growing our national footprint, and expanding the products and services we offer to thousands of Australian [SMBs], whose needs have long been ignored by the major banks,” said David Hornery, co-CEO and co-founder, according to FinTech Magazine.

The bank has seen an avalanche of funding in recent times, as this recent round comes 10 months after it was able to secure $261.6 million in a Series B round, and only a few weeks since it was able to get $322 million in government loan funding, provided for businesses to keep afloat during the coronavirus pandemic.

The sheer deluge of funding has all added up to the unicorn status, according to FinTech Magazine.

The bank was formed in 2016 and offers business loans for the early stage of a business; lines of credit to boost cash flow; equipment loans; finance lease services to acquire vehicles; personal, SMSF or business term deposits; and a general ethos of bringing back the old style of banking where a real relationship is forged to boost SMBs.

In January, Judo Bank added a partnership with Software-as-a-Service (SaaS) provider InfraRisk in order to speed up lending to SMBs. InfraRisk will integrate cloud-based software to help add profiles for management borrowers, loan pricing and other services to help with efficiency and overall operations.

“InfraRisk is a leading FinTech innovator and Judo Bank is a challenger to traditional banks,” said Victor Li, head of Pintec International Business, which owns InfraRisk, at the time. “Together, we will apply cutting-edge technologies to provide superior lending services for [SMBs].”



Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border. Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.