Judo Bank completes $280m cap raise
Challenger bank for SMEs, Judo Bank, has been advised on its capital raise of over one-quarter of a million dollars to continue its national expansion.
Firm: Ashurst (Judo Bank).
Deal: Judo Bank has completed a Round 4 capital raise, which was undertaken at a premium to prior rounds and builds on a $230 million Round 3 capital raise that was finalised in May this year.
Following the latest funding round, Judo’s valuation exceeds $1.6 billion, Ashurst noted.
Value: $280 million.
Key players: The Ashurst team was led by partner Stuart Dullard, who was assisted by senior associate Jason Maletic.
Deal significance: Mr Dullard said that the firm is “delighted” to have assisted Judo Bank in its latest capital raise.
“This raise demonstrated strong support from private and institutional investors. This year Judo Bank was successful in raising over A$500 million in funding across two rounds, during the global pandemic,” he proclaimed.
“The continued support from well-respected investors globally is testament to the quality and strength of the business, the Board and senior management team. We look forward to seeing Australia’s only dedicated SME business bank go from strength to strength.”