Neobank Volt closes $70m oversubscribed Series C, hits $100m total funding and sets sights on IPO
Australia’s first neobank Volt Bank, closed a $70m Series C equity funding round, which was oversubscribed by $10m beyond the original target of $60m.
Neobank Volt begins onboarding 40,000-strong waitlist, announces market-leading ‘no catches’ interest rate
Volt Bank has begun onboarding sections of its 40,000-strong waitlist and is announcing a ‘no catches’ ongoing base interest rate of 2.15% on savings.
Volt partners with Frollo to create Volt Labs and put customers first
Volt Labs, the co-creation consumer app co-built by Volt and Frollo, has recently surpassed 10,000 users.
FIS powers payment services for Australia’s all-digital Volt Bank
New digital bank Volt Bank has chosen technology and services from FIS (NYSE: FIS) to power its mobile and card payment services.
Volt bank to build mortgage platform with IRESS
Digital bank Volt has revealed a new partnership with veteran fintech vendor IRESS to build its customer-facing mortgage system.
Aussie fintech Volt Bank starts by asking consumers what they want
Digital bank Volt eyes business customers as fintechs chase data
Neobank Volt has small business in its sights as it develops data-driven products, acknowledging that startup founders are the most likely to take up digital banking options first. The startup, which secured a fully fledged banking licence in January and is preparing to launch a consumer offer in coming months, joins other financial technology firms in its quest to offer self-employed customers better products by reviewing their data in real time. Speaking from the sidelines of Salesforce’s World Tour event in Sydney on Wednesday, Volt chief executive Steve Weston said the business was looking at rolling out business transaction accounts, term deposits and business loans from 2020. “The tech community […]
Collection House acquires $8.5m stake in Volt Bank
A pathway set up by regulators to incentivise new entrants in the banking sector is starting to gather momentum, with Volt Bank receiving an $8.5 million investment from listed company Collection House (ASX: CLH). The Australian Prudential Regulation Authority (APRA) yesterday granted Volt a licence to operate as an authorised deposit-taking institution (ADI) without restrictions, as part of a framework set up in May 2018 to assist small firms with limited financial resources. At the time, APRA chairman Wayne Byrnes said making it easier for aspiring ADIs to enter the market would help enhance competition and potentially innovate new business models, while the scheme would also maintain safety and stability […]
