Australian SME lender Judo Capital raises $104m

According to The Australian Financial Review, backers include Ironbridge Capital, OPTrust, Myer Family Investments, Abu Dhabi Capital, Zhong Yi Investment, Credit Suisse Asset Management, Inception Asset Management, and CH Warman Group. It is being touted as the second largest raise ever by an Australian start-up.

"The success of the Judo capital raise is a great testimony to the rigor of preparation of the Judo team, the integrity of the Australian financial services marketplace and the long term, sustainable growth of the Australian economy," Martin Donnelly, co-head of First Avenue Partners, which acted as placement agent, said in a statement. "These factors allowed us to attract a globally diverse investor base."

Judo was launched in March by a group of former executives of National Australia Bank, with a view to providing a range of lending products for the local SME market including lines of credit, equipment loans, and home loans for business customers, via a cloud-based platform. The company currently has a staff of about 50 and plans to roll out operations nationally in the coming months.

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• Topics
• Australasia
• Financials
• Early-stage
• Australia
• Ironbridge Capital
• SME
• Financial Services
• TMT