Xinja
Share on
Xinja Get in on the bank job. Help us build Australia’s first independent, 100% digital bank.
  • Consumer Products
  • Finance
  • Mobile Apps
  • A$2,419,000

    invested

  • 483.8% funded

  • 0

    time left

  • 1.2% - 7.0%

    min - max equity offered

  • A$500,000.00 - A$3,000,000.00

    min - max investment sought

  • A$250.00

    min investment parcel

OFFER IS CLOSED
New Payments platform and Pay ID

Hi Team,

In the future, will Xinja be looking to leverage the capacities of the NPP and PayId platforms recently released?

Thanks,

Dylan

Dylan Jobson posted on 31.03.2018

Hi Dylan,

Thanks for the question!

We are exploring NPP and a number of other exciting developments in the payments space.

Hope that helps, more info to come in the not-too-distant future.

Thanks
Betsy

Betsy Westcott posted on 10.04.2018

Replied to Dylan Jobson

Minimum capital required to offer mortgages

Hi Team,

I note that you have numerous plans listed for accessing funds via wholesale and debt markets..

Just curious , roughly how much initial capital do you think would be needed to launch and 'fund' first mortgage customers?

Under section:

Hi Team,

I note that you have numerous plans listed for accessing funding sources..

Just curious , roughly how much initial capital do you think would be needed to launch and 'fund' first mortgage customers?

In 2.14. Forecasted Financials
Under Mortgages ,

Average Loan size = $500,000
Weighted Average Life of a
mortgage = 4.00

Is this based on the assumption of an interest only investors mortgage rather than 'Owner Occupier's?
Is it possible to describe how this average was arrived at?

Dylan Jobson posted on 24.03.2018

Hi Dylan,

Thanks for the question mate, as one of our earliest Xinjas you are always welcome here :)

Let me see if I can do justice to your questions.

How much initial capital will we need to fund the first mortgages?
That's a tough question to answer because there are a number of variables, such as how big are the first mortgages, what are the final contractual terms with our funding partners, which of our future funding partners will we use with each mortgage. As you would expect however our first mortgages have tiny margins as our cost of funds is pretty high, as we start to mature we are able to drop our cost of funds and make more margin without impacting the customer negatively.

Average loan size in Australia, depending on which source you use is quoted as being between $400 and $500k, as our demographics are concentrated around the larger cities where property prices are higher we used A$500k as the number for our modelling. However you should do your own research and decide if you think thats a reasonable number. If we have over estimated it then our revenue and profit will be lower than the model, and of course vice versa.

Average life of a home loan in Australia, again depending on which source you use is between 3 and 4 years...which I know is really surprising. As we are going to have a strong leaning towards residential owner occupier loans we have used the 4 year time line. Again do your own research, see if you agree with us, as if we have got it materially wrong it will effect our financial estimates.

Hope that helps Dylan, look forward to more conversations in the coming months!

E

Eric Wilson posted on 25.03.2018

Replied to Dylan Jobson

A few questions from a potential investor

Hi Team Xinja,

Great work so far, I note that the prepaid/travel card was just launched (please note N26 and atm withdrawals!). Also agree with management's strategy in launching a mortgage product to achieve underlying profitability early on, as I (as do many other investors) find it mind-boggling how VCs can continually convince themselves to fund growing losses given tech companies consistently fail to demonstrate the ability to convert market share into profitability.

A few questions from me with regards to your offer:

a) With regards to retail investors coming into Tranche B / at this early stage, is it fair to say that any future capital raises will be appropriate priced (relative to Tranche B investors), subject to the amount of de-risking that would have been achieved by then (e.g. obtaining licences, product launches etc.)?

b) Should Series B Tranche 2 not meet the maximum $3m you're seeking, would you look to raise the shortfall via increasing Series B Tranche 3? How was the $10m determined, is it adequate in covering for the expenses required to take Xinja through the product road-map as outlined on pg 14? Based on discussions thus far, are you confident in securing the remaining Series B Tranche 3 of $2m?

c) With respect to the 24.3m founders shares currently held, how much of this is held by the senior management team? (it's not clear whether 'founders' implies management or otherwise)

c) Given Xinja’s capital structure (like any other FI's) will inevitably be dependent on funding via the external debt capital markets to fast-track growth, are you able to elaborate abit more (in addition to what is mentioned on pg32) as to the funding arrangements that you are trying to put in place to best mitigate this risk at the outset when you are most vulnerable? (particularly at this point of the cycle where rates are trending up , growing talks of potential equity market melt-up, rising volatility etc.)

e) Are you able to elaborate somewhat in terms of your marketing team's credentials?

Finally just wanted to share an article that I read whilst researching the industry, would be interested in your views (given domestic banks have had quite some time to roll-out their own respective digital platforms), but nevertheless thought this article might be a useful read in terms of how you'd want to maximise your future brand positioning.
https://www.rfigroup.com/content/media-release-banking-sector-continues-evolve-digital-only-banks-are-losing-appeal-globally

Appreciate your time and look forward to your response.

Kind Regards,
Phillip


Philip Yuk Yin Li posted on 21.03.2018

Hi Phillip,

Thanks so much for your thoughtful questions. A number of them are covered elsewhere in these Q&As so I have tried to focus on the new areas.

a) With regards to retail investors coming into Tranche B / at this early stage, is it fair to say that any future capital raises will be appropriate priced (relative to Tranche B investors), subject to the amount of de-risking that would have been achieved by then (e.g. obtaining licences, product launches etc.)? 

I think the most important thing here is to point out is that the founders shares are materially the same as all the investors shares. So our interests are absolutely aligned to our shareholders. If you win, we win and vice versa. The situation you describe above is certainly how we hope things will play out, but Xinja is a start up and there is a real risk we might not follow that easy path. You should make sure you are happy with that before investing.

b) Should Series B Tranche 2 not meet the maximum $3m you're seeking, would you look to raise the shortfall via increasing Series B Tranche 3? How was the $10m determined, is it adequate in covering for the expenses required to take Xinja through the product road-map as outlined on pg 14? Based on discussions thus far, are you confident in securing the remaining Series B Tranche 3 of $2m?

Lots of questions here, most of which have been answered in other questions. Perhaps the easiest thing to say is that we are confident of reaching the A$10m targeted in total for Series B by the time the crowdfunding finishes or shortly after. Indeed we actually expect to be able to go past the A$10m target if the Board chooses to do so.

c) With respect to the 24.3m founders shares currently held, how much of this is held by the senior management team? (it's not clear whether 'founders' implies management or otherwise)

The vast majority is held by us, the senior management team, most of whom also refer to themselves as co-founders.

d) Given Xinja’s capital structure (like any other FI's) will inevitably be dependent on funding via the external debt capital markets to fast-track growth, are you able to elaborate abit more (in addition to what is mentioned on pg32) as to the funding arrangements that you are trying to put in place to best mitigate this risk at the outset when you are most vulnerable? (particularly at this point of the cycle where rates are trending up , growing talks of potential equity market melt-up, rising volatility etc.)

Due to the commercial sensitivity of these matters we won’t be releasing any more information beyond what is in the available material. If you are unable to make yourself comfortable on the basis of the information available, you should not invest.

e) Are you able to elaborate somewhat in terms of your marketing team's credentials?

Again, we don’t wish to go beyond the materials already provided. Perhaps if you require further data it might be worth googling the PR and Marketing exposure that Xinja has already gained and making your own judgement off the back of that.

f) Finally just wanted to share an article that I read whilst researching the industry, would be interested in your views (given domestic banks have had quite some time to roll-out their own respective digital platforms), but nevertheless thought this article might be a useful read in terms of how you'd want to maximise your future brand positioning. 

I think you have to be super careful with these kinds of articles. Who wrote them? Who sponsored them? Who provided the data for them? It always pays to be super cautious with % statistics like those used in the article because who knows how many people they surveyed…5 or 5million…which market? Which segment of that market? Personally, I like to rely on hard data rather than opinion when making investment decisions. There is heaps of actual, relevant, recent data on neo bank customer acquisition. Monzo’s customer acquisition numbers and their monthly growth rate in the UK, or perhaps K bank in Korea, they are all openly available...I think when its your own hard earned cash it's wise to do your own research, and form your own opinion.

Thanks again for your questions.

All the best

E

Eric Wilson posted on 23.03.2018

Replied to Philip Yuk Yin Li

Where did the name Xinja originate

Could you please give me the background regarding the name Xinja

antony stroumos posted on 21.03.2018

It was actually a bit of fun! We were looking for something short, punchy and with a bit of zing (or yes, 'xing') and we liked the rhyming with Ninja - Xinja your money Ninja? You betcha!

Betsy Westcott posted on 21.03.2018

Replied to antony stroumos

CAC and LTV forecasts

... and one other question in regard to CAC and CAC/LTV ratio (on mortgage business), are there estimates on CAC and LTV (beyond mortgage term), with cross-sell opportunities?

Thanks again ..
Mark

Mark Potts posted on 15.03.2018

Hi Mark,

Thank you for your second post.

As you would be aware CAC is highly commercially sensitive. At this point we have nothing further to add than the discussion outlined in the paper. We would strongly suggest doing your own further research on CAC to assist in making your investment decision.

Thanks!

Betsy Westcott posted on 16.03.2018

Replied to Mark Potts

Technology Strategy and dependencies

Hi,

Was wondering why the technology strategy includes outsourced development, even with aligned interests and equity investment, as a technology company, having this capability in-house would seem prudent. How will the relationship evolve and is there any intention to mitigate the risk of a third party software development partner, required agility, and commercial rates/costs, with internal capabilities?

Cheers
Mark

Mark Potts posted on 15.03.2018

Hi Mark,

As you would expect we have a range of options available to us with development of technology.
As always with these discussions it is a balance between outsourcing risk of development, bringing globally advanced technologies to Australia, and managing the direct control of development teams. We believe we have struck a strong balance, and at all times leave the option open to changing the mix when it works best for us.

Thanks for your questions!

Betsy

Betsy Westcott posted on 16.03.2018

Replied to Mark Potts

Couple of questions

Hi Xinja Team,
First of all congrats on getting more than allotted money through CSF....it means people believe in your vision. I have couple of questions though for you
1. For any online only product, you need more customers…..While at the moment you are concentrating on Aus market, do you have any plans to foray into other geographies as well.
While it sounds logical to do so it might be difficult to go in different market quickly …. as the product is not a chat or message app but a banking product with regulatory impact
2. At Xinja, you say ‘How Money should Be’….so does it mean that you would eventually try to provide all the services related to money – such as share investing, international money transfers etc etc apart from home loans and deposits?
3. In a digital world there is a completion for you from every corner , not just from traditional banks coping up digitally– such as Whatsapp coming up with money transfer option (with their own payment bank) . So what would be your competitive strength in this regards?
4. How exactly your app support will work? – Will you be having 24*7 online support ?
What are your views on this?
5. With money comes the question of security! (Please don’t think that I am questioning the security for the app) So how exactly you think you can tackle the security question – with respect to the data stored in cloud as well as payment or processing of funds by users.


Regards,
Kedar

Kedar Agashe posted on 14.03.2018

Hi Kedar,

Thank you for your thoughtful questions.

1. We're certainly considering other geographies, but focused on Australia for now. As you say, there are complications with overseas expansion, but these are not insuperable. Setting that aside however, the projections in the offer document are entirely based on Australia. We are looking at a very modest market share in Australia, which we think is achievable based on what we've seen happen overseas and the traction we have achieved to date. We have been conservative in these figures. However none of this is of course guaranteed and you should consider the risks for yourself before making any investment.

2. For the first year, we will be focused on the key launch products of the app and prepaid card, home loans and (subject to our receiving a banking licence) the transaction account. We are then planning to roll out other products and in the longer term we are certainly planning to extend our business model to include a 'marketplace' component, whereby we will be able to offer a range of value added services to customers from our platform. The scope of this - the exact nature of these services - is not yet defined. Whilst this is part of the strategic roadmap, this is not included in the business model presented in the offer document.

3. As we've always said, increased competition for us is good news for customers! It is a great indicator of the appetite for and viability of new banking and financial services experiences. There will certainly be tranches of the population, customers of existing non-financial brands, who migrate to these services as they roll out. However, we're confident that the quality of the overall customer experience we will provide together with - as we roll out - a more comprehensive solution will help maintain and grow the customer base. You might also be interested in our comments replying to Jackie Chen's question below.

4. We are launching with in app chat support from 8am-8pm and 24/7 phone support. We will consider extending live chat to 24/7 as we grow - it's something we're monitoring closely- and this will be driven by what our customers want and request.

5. This is a very important question so thank you for asking and forgive the long answer! Security is of critical importance to our customers, and arguably becoming more so as cybersecurity issues proliferate. Neobanks in some ways will have advantages in that it will be easier for them to deploy newer technology - such as biometrics, facial recognition, geo location - for immediate monitoring. In the medium term, if we are successful in becoming a RADI (restricted authorised deposit-taking institution) we will be governed by all the compliance of any bank so you can expect standard bank levels of security as a minimum (together with related monitoring and reporting) We are setting appropriately high standards for cyber security, customer and financial data protection (aligned to ISO27001).

Betsy Westcott posted on 16.03.2018

Replied to Kedar Agashe

Technology stack

Hi Xinja team - a key differentiation between yourself and the traditional banks is that you have no legacy technology/patterns to maintain since you're building from the ground up. If it's not commercially sensitive, can you advise what type of technology are you planning to use? Some specific questions: 1/ Are you building a bespoke banking register or buying an off the shelf solution? 2/ Are you hosting your infrastructure on premise or on one of the cloud providers (eg AWS/Google Cloud Platform/Microsoft Azure)? 3/ Are you planning to use a cross platform mobile solution so both iPhone & Android users get the same functionality?

Thanks.

Andy Tang posted on 12.03.2018

Hi Andy,

Great question!

Xinja's business vision is to differentiate itself from traditional banks by creating a new customer experience of money and personal finances. We will be building out a range of traditional and innovative banking products and services to be delivered to customers via the Xinja app.

Our IT strategy is to create a secure, compliant technology foundation for our core banking deposits and lending products to satisfy regulatory requirements for our ADI licence and to progressively build this out to create a 'platform ecosystem' where we can innovate with new partners and fintechs to deliver differentiated services using open APIs.

The core banking platform we have selected is a 'lightweight' core banking system that has over 180 global implementations, but has not yet been implemented in Australia. We are currently working with our core banking partner and regulators to implement this in AWS where it would essentially run 'as-a-service' in their NSW data centres. We have gone through an extensive evaluation process to select this product which we believe gives us significantly greater flexibility to design and implement new banking products, with high speed to market and lower run costs than traditional core banking systems.

We will be developing a cross platform mobile app experience for iOS and Android users.

I hope that answers your question.

Thanks
Betsy

Betsy Westcott posted on 14.03.2018

Replied to Andy Tang

What does Xinja value the most

Hi Eric, Thank you for taking the time to go through each individual query. I have a question regarding the company's priority/assets. What do you view as the most important for Xinja? 1) Shareholders, 2) Employees, 3) Customers, 4) Technology? You are welcome to discuss all four, but I would like to hear what do you view as #1.

Rommero Lagoeiro Carrillo posted on 01.03.2018

Thanks Rommero, what a great question and not one I am sure has a simple #1 ranking answer as you ask.

Firstly I would like to challenge the assumption, that Shareholders, Employees and Customers have competing priorities and interests. I suppose the obvious question is around do we give profit to shareholders, a better deal to customers or give our staff a pay rise?
The common narrative is often that an organisation can only do one, and I guess that's sometimes an easy way to justify unpopular decisions. However the roles, certainly as far as Xinja is concerned are very fluid. Our customers, shareholders and staff are often the same people, and that's just how we like it.
Besides if we offer a better deal to customers, we will sell more products, which means our shares are more valuable, which means our staff and shareholders are happy, and will provide more capital to use. In my opinion its all part of one big virtuous circle....when you start treating shareholders as the enemy of customers, or customers as the enemy of staff it all goes horribly pear shaped and you create a vicious circle.
I know that's not the answer you were after and you wanted me to rank those 4 items, but I dont believe that they are a competing hierarchy, but more a symbiotic ecosystem. My job as the CEO is to view each of those first three as equal priorities. Indeed I started Xinja to rebalance those priorities in the banking industry. As for technology i see that as purely an enabler to give our customers an awesome experience, our staff the ability to please our customers without stress and our shareholders low, scaleable operating costs.
Cheers
E

Eric Wilson posted on 01.03.2018

Replied to Rommero Lagoeiro Carrillo

Maximum amount.

I see the minimum amount to invest is $250.

This may seem like an odd question but is there a maximum amount that can be invested?

I, myself may not have such an amount but I was curious none the less.

Thanks.

Heath Smith posted on 24.02.2018

Hi Heath,

Great question! As a retail investor, the maximum amount you can invest is $10,000.

Thanks
Betsy

Betsy Westcott posted on 24.02.2018

Replied to Heath Smith

A question via a direct email to Xinja regarding our Net Interest Margin...

I'm considering the equitise offer and had a question:

Do you expect your NIM to be better or worse than a big4 bank and why?

Betsy Westcott posted on 19.02.2018

Good question around NIM.

For those that don't know the acronym, NIM stands for Net Interest Margin, or how much revenue Xinja will make on each home loan.

Unsurprisingly when we first start out the big banks will be making a larger NIM than us, this is because they can raise money to lend out much cheaper than us...mostly from your deposits.

As we get bigger, build deposits and get access to cheaper funds it's possible we will be able to generate a larger NIM as well, plus we can combine that with a lower cost of operation from our scaleable technology, no branch network and no legacy IT.

What that means is extra wriggle room to go into cheaper home loans, new technology for customers as well as a good return for investors.

We absolutely believe in the ability to give a better, faster cheaper product to customers whilst also being profitable.

As always though I would encourage you to do your own analysis, look at average NIMs around the world, look at what some of the overseas neo bank NIMs are, then localise that to Australia. The NIM is at the heart of Xinja's profitability so make sure you are absolutely comfortable with your analysis.

Betsy Westcott posted on 19.02.2018

Replied to Betsy Westcott

Question via Nathan on Linkedin...

"I've got a pretty good understanding of market, tech, regulatory and behavioural drivers that lead me to believe you've got a big opportunity in front of you. The thing to decide is whether or not (IMO) the team is uniquely positioned to execute. Could you give me some more information on your team?"

Betsy Westcott posted on 13.02.2018

Hi Nathan,
Thanks for the kind words and the great question. When I put our team together there were three core skill sets I tried to make sure we had in our team. Firstly, and perhaps most obviously, we needed an amazing technology team...but again this wasn't as obvious as it might appear. Yes we needed the super smart, super agile developers and technologists, but also the larger, enterprise integration level skills capable of handling high end bank end banking platforms, mortgage origination platforms etc etc. Then of course you have to consider compliance, cyber security and all the other regulatory technical requirements. Our CIO Ms Jacqui McPherson personifies all these skills in that she is the ex CIO of NSW Treasury, ex Accenture, ex Macquarie and has developed the technical strategy for other digital neo banks outside Australia. We compliment her skill set with an outstanding Digital Delivery Director Mr Alistair Thomas, and our strategic partnership with Equal Experts. It is worth noting that Alistair spent many years working for Equal Experts ensuring a tight fit between Xinja and its strategic partner.
The next core skill we had to have was the deep banking and finance skills. If I look globally I think this is probably where some of the neo banks have struggled at first. They were started by brilliant technologists, who built amazing platforms but perhaps didn't understand the detail of how banks make money and keep safe. Our banking team is A grade including our treasurer Ms Verity Froud ex Macquarie Bank and ex Bluestone, our Chief Risk Officer Mr David Nichols ex CBA and ex Quodos Bank, our Chair Ms Lindley Edwards ex Macquarie Bank and ex Citibank, and one of our non executive directors Mr Craig Swanger, ex Chief Investment Officer and head of Innovation for Macquarie Bank, and ex Chief Economist of FIIG.
Finally the third core skill, and here I think is where the secret sauce comes in. A common misconception about neo-banks is that they are all about technology, and thats why people love them. Sure its part of the story but its not the key part. The key difference about a neo bank is that it is built by its customers, to serve its customers. Hence the third core skill of customer experience and care. Dealing with a bank should be like dealing with a really posh 5 star hotel, except we want our customers to feel a real sense of ownership in us as well. Our Director of Retail Banking Ms Betsy Westcott is an ex private banker for both NAB and ANZ, and not by coincidence started her career working in very posh hotels, bringing this high end customer service ethic and focus to Xinja is probably our most sustainable competitive advantage. There are of course other fabulous people at Xinja, but I probably ought to stop there!
Sorry for the long answer, but it was a great question and I hope it helps in making your own mind up about the quality of our team.
E

Eric Wilson posted on 13.02.2018

Replied to Betsy Westcott

SHAREHOLDER LIABILITY

I think I am right in saying that when i invest in an ASX company i have limited liability and if the company became insolvent I can't be pursued for any money owed by the company. What liability exists for the shareholder in a CSF company?

Thanks

Tony Metcalfe posted on 12.02.2018

Hi Tony,
Thanks for the question. It is my understanding that you are correct that when you invest in shares in an ASX company and if the company becomes insolvent that you cant be pursued for money. Obviously this assumes that you aren't working in the business and havent given any guarantees etc etc.
I cant speak for all CSF companies, but Xinja is a public unlisted company. This means that your liability as an investor in Xinja extends only to the value of your shares. Ie you could lose all the money you invested, but no more.
Hope that helps, but if you have any further concerns go have a chat with a lawyer you trust and they should be able to give you a pretty swift assessment.
Cheers
E

Eric Wilson posted on 13.02.2018

Replied to Tony Metcalfe

Dilution

Hi Eric,

In the case that shares do get diluted in future raises, is there the potential to offer more shares for sale to existing CSF shareholders, in order to (almost practically) minimise or stop any dilution occurring, viz. Monzo?

Thks
Dom

Demetrio Gil posted on 06.02.2018

Hi Dom,

Thanks for the question, its a good one.

We certainly wouldn't rule out the potential to offer more shares to CSF (and indeed all) shareholders as we go through the capital raising process, subject to all the correct licensing and permissions. As you say Monzo offered a couple of rounds of CSF, and there is no reason I can see that we couldn't choose to do so as well.

All that said, we dont have any existing plans for another CSF round currently, so again assume the worst when making an investment decision that this may be the only opportunity.

E

Eric Wilson posted on 06.02.2018

Replied to Demetrio Gil

Finance groups like ING as competitors

Sharing a question received via email:

'Your offer and risk document don’t mention finance groups like ING. I mention that because ING is essentially an online bank, and claiming similar benefits. I don’t know how successful they are in Australia, have they taken a significant proportion of the market, and hence is their experience pertinent, if they have remained small, is that a general indicator of the Australian market? Are they a direct competitor to Xinja, and if so is that an unidentified risk, and how would you mitigate it?'

Betsy Westcott posted on 19.01.2018

Hi Betsy and OP,

Thank you for the question OP. I think this question is best answered by the response I gave to Jackie Chen below where we talk about direct plays and ING as well as a couple of others.

Cheers

E

Eric Wilson posted on 19.01.2018

Replied to Betsy Westcott

A few questions

Hi Eric and the Xinja team,

Firstly, congratulations on your achievements to date. It's certainly exciting to see this level of innovation in Australia, especially in the banking sector and I wish you and the team all the success you deserve.

I have a few (okay maybe more than a few) questions around the numbers outlined in your offer document and your product offerings.

1. As with any start-up, it's certainly natural to expect that the business will run at a loss while customer acquisition and go to market strategies execute to their desired/beyond their desired result. However, I'm sure you, the C-level executives and the board have discussed a potential point in time where you will break-even or start to become profitable. Are you able to share your thinking and insight with the investor community as to when this might be?

2. Your other expenses in FY19 are forecasted to increase by over 50% compared to 2018. Could you share where these expenses are expected to be incurred? i.e. Borrowing costs, increased staff, IT support from Equal Experts?

3. You mortgage customer forecast for 2019 is 340. With interest rates expected to rise in 2018 and the opportunities that re-financing would bring, I would have thought the number would have been higher? Will definitely be higher if you offered something similar to what Atom offered in 2017 :) https://www.ft.com/content/c46c59d0-2514-11e7-8691-d5f7e0cd0a16 Can you share the reasoning behind this total?

4. Will Xinja be contributing/consuming comprehensive credit reporting information as the majors are/will be? If not, what’s stopping Xinja from being the lender of last resort if evaluating negative only credit information on applicants? I suppose more importantly what is Xinja doing to ensure it only attracts high creditworthy individuals to minimise defaults?

5. Your go to market and customer acquisition strategy outlined in the offer document talks about offering products that are highly competitive - With the difference between savings interest and loan interest rates being approx. 1% or less in some institutions I'm keen to understand how Xinja will be positioning themselves compared to other ADI's?

Thanks,
Nic

Nicholas Luiz posted on 16.01.2018

Hi Nic

Thanks for the thoughtful questions.

Just as a heads up, although we have attempted to provide as much detail as we can on the deal page and in the offer document that balances outlining all relevant information known at the time and regulatory requirements (incidentally we voluntarily provided the offer document to APRA and ASIC for prior feedback) - there is a limit to the granularity we can go to in a public forum for reasons of protecting our competitive intel and IP. That being said, here goes...

1. I am afraid ASIC have asked us not to provide more than 2 years of financial forecasts due to the uncertainty of forecasting beyond that time period. I would encourage you to draw your own conclusions from the two years forecasts we have provided, and to examine some of the other neobanks in market and their profitability to draw your own inferences. I appreciate that might not be the answer you were seeking, and obviously we have very detailed financial modelling, however we are restricted in a retail offering to the degree to which we can share that.

2. The increase in costs in Year 2 are incurred across all those areas you mentioned plus a couple of others. Year 2 is planned to see a substantial scaling of products and activity as the technology and the company in general beds down.

3. We have heard on a number of occasions from investors that we have been too conservative with our sales targets and profit estimates. We feel that it is far better to give prospective investors slightly pessimistic, hype free targets upon which to make a decision. If things go better, as you say they might, that is all upside for everyone!

4. At this stage we are not releasing the detailed plans for our credit assessment processes. I can however assure you that Xinja in no way will be the lender of last resort, and our credit assessment process will be as you would expect from a cutting edge, digital neobank. (Please note that we are not a bank yet.)

5. Firstly it is important to note that Xinja is not yet an ADI and we are dependent upon APRA to grant us that status. Our positioning compared to other ADI's is explained in the information in the deal room, and we dont have a whole lot to add beyond that at this point.

Thanks again Nic

E

Eric Wilson posted on 17.01.2018

Replied to Nicholas Luiz

Banking License

Hi Xinja Team,

What is the approximate time frame on Xinja being granted a banking license?

Cheers,

Lachlan

Lachlan Huismann posted on 16.01.2018

Hi Lachlan,

It is impossible to know for certain as being granted ADI status by APRA is entirely at their discretion. It is even possible in a worse case scenario that we wont be granted it at all...see my answer to Betsy Westcott below as to what happens if that occours.

All that said, we are making an informed assumption for our business planning that Q2 this year is a reasonable timeframe to expect a decision. It is worth noting that we were the first applicant for our RADI back in September of last year.

Xinja has also applied for an Australian Credit Licence (ACL) with ASIC which will allow us to offer mortgages and we hope to receive this in Q1/Q2 2018

Cheers

E

Eric Wilson posted on 16.01.2018

Replied to Lachlan Huismann

Shares issued to Equal Experts in lieu of fees

Do the shares issued to Equal Experts in lieu of fees equate to the amount of intangible assets in the balance sheet ("software development fund") booked at AUD1,234,247?

Damian Manchee posted on 15.01.2018

Hi Damian,

Thanks for your latest question.

The intangibles relates to the software development fund. The amount paid to EE does not equate to the amount of intangible assets, but it is a component of the total intangible assets.

Cheers

E

Eric Wilson posted on 15.01.2018

Replied to Damian Manchee

Billion Dollar Company

Hello, do you reckon Xinja has the potential to become a future billion dollar company? With the way technology is going and everyone using smartphones to run their life, this may become the Uber or Snapchat of banking :)

Michael Puser posted on 14.01.2018

Hi Michael,

Obviously these things are incredibly hard to predict and you need to make your own assessment.

Personally I think this excellent question is best answered with:

https://goo.gl/UE7Gng

NB. You should not rely on the fluffiness or cuteness of any pictured stuffed unicorn when making your investment decision.

E

Eric Wilson posted on 15.01.2018

Replied to Michael Puser

Has xinja self assessed the ESIC or requested a principles based ruling

Hi there, firstly, love what you guys are doing!!

Secondly (and sorry to be boring) I have an Early Stage Investment Company question. I don't think your answer above was 100 percent clear.

As I understand for a company to be an ESIC they either self assess against the 100 point innovation test or they request a principles based ruling.

To this end (and understanding all the caveats on getting personal tax advice) have you guys performed the self assessment? If so what as the result? And if not, are you in the process of requesting a ruling?

Thanks, keep up the great work!

Alexander Brown posted on 13.01.2018

Hi Alexander,

Thanks for the kind words! We love what you are doing too! Asking good questions :)

We are bankers and love questions about ESIC, so dont be sorry! They arent boring at all.

We have performed the self assessment and believe that Xinja is an ESIC. I have to repeat again though, that you should seek your own advice on this, and not rely on our opinion, especially if this is of critical importance to your investment decision.

All the best

E

Eric Wilson posted on 13.01.2018

Replied to Alexander Brown

Resolve from selling share query.

Hey Eric, thank you for your prompt response. I have since discussed this further with Equitise and you were absolutely correct about ownership of the shares.
They had explained the same thing you had in response to Scott Lang and that specific acknowledgment I referred to is about the illiquidity of the start up point. But in the event (later on) Xinja is on the market or an event of offering should occur then the holders can indeed sell their shares if they wish to.

To this end I have decided to keep my investment and apologise for my misunderstanding of this. I look forward to the future of Xinja in becoming a monumental success.

Also thank you to Equitise for being equally as prompt and diligent in ensuring I understood the matter more clearly.

Heath Smith posted on 13.01.2018

Hi Health,

Thats great news, really happy everything got resolved ok.

Welcome to being a founding Xinja!!!

E

Eric Wilson posted on 13.01.2018

Replied to Heath Smith

How is Xinja different to other direct banks

Hi Xinja team,
Before investing in this offering there are a few concerns i would like to address.

1. How would Xinja differentiate itself from other direct banks such as Ubank, MeBank and ING direct? In the offer document there was a mention of a 'technology strategy' which would differentiate Xinja. However i dont see how these features isn't already been provided by existing banks or wont be copied by other banks
2. How would Xinja compete with them on cost? They have economies of scale and would be able to access funding at a favorable rate.

Warm regards,
Jacky

Jacky Chen posted on 13.01.2018

Hi Jacky,
 
Thanks for the insightful questions, economies of scale and sustainable competitive advantage should always be in your mind when considering an investment in almost anything.
 
I guess both your questions come down to a larger meta question; “Are neo-banks around the world going to be able to compete with the incumbents in their countries?”
 
Xinja is far from the first neo bank globally, with many countries around the world having neo banks including the UK, US, Europe, South Africa, China and a gazillion more. NB please don’t rely on the numerical value of “a gazillion” in your investment decision!
 
Now you should do your own research, but in my personal opinion most of these banks don’t compete on their technology strategy alone, or even primarily. 

Customer experience, brand value, ethics and fixing customer problems are often the reasons you hear customers saying they love these banks. 

There is no one technology feature or cool gimmick that is “going to win the war”. Mostly, because as you say they can be replicated.

However a couple of years on since the neo bank movement began in the UK and spread globally it appears that many of the neobanks are doing very well indeed. You shouldn't take my word for it though. Leap on Google and you can find some good research on neo banking and its successes and failures.
 
The other thing that might be worth mentioning is that a neo bank strategy is quite different from a legacy bank direct play. Often these businesses run off pretty old technology in the back end, sometimes with a pretty front end website glued on. You also need to look carefully at who owns them. UBank is wholly owned by NAB, MeBank is owned by the Industry Super funds and so on.

The technology of a fully fledged neo bank is end to end digital from the customer’s mobile to the back end banking platform. Remember its built for mobile. 

Plus in my experience the customer focus and customer experience strategy is very different for a neo bank.
 
In terms of Xinja competing on costs it is absolutely swings and roundabouts. In some areas they are probably going to get us. As you say, to start with cost of funds is probably going to be one of them.
 
In other areas though we may have an advantage, for example our operating costs may be lower due to no legacy systems, no branch networks, no mothership corporate costs to support. People may actually like us and tell their friends to download our app, lowering our cost of customer acquisition!

We have provided some financials in the offer document which you should take a good look through and form your own opinion on.
 
You might also want to have a look at the global neo bank market and see how neo banks around the world have differentiated themselves from their own incumbents and see if you are satisfied they have produced a suitable return and whether Xinja can do something similar here. As always though, it’s really important you do your own research and draw your own conclusions.
 
Best of luck and don’t hesitate to ask any further questions.

E

Eric Wilson posted on 13.01.2018

Replied to Jacky Chen

Unable to sell shares

Hi there, I just submitted a subscription to the Xinja offering and have decided to withdraw.

I made this decision after reading the CSF investment agreement. Under Investment Acknowledgement 2.1 section b under point iii (or3) stating "The investor confirms that it understands that is may never be able to sell the Investor Shares and that the value of it's investment in the company may be diluted over time".

I had invested with the idea to sell the shares after a number of years (assuming their value had increased in that time) and after speaking with online support with Equitise it seems that I cannot do this.

I must apologise for my misunderstanding of the concept of returns for the crowd funders. However I wasn't comfortable with the idea of buying the shares and not having the right to sell them, my understanding was if you buy a share then you own that share. I'm guessing that upon agreeing to the Investor Acknowledgement the right to ownership is somewhat waived.

However the shortcoming here is definitely my own in assuming that this is how it would be, I have no doubt that Xinja will be a massive success (hence why I jumped in so quickly), irrespective of my part taking in it or not. The concept and customer focus of it alone had me sitting by my email everyday awaiting the deal room for it to be opened.

Thank you and all success in the future.

Heath Smith posted on 12.01.2018

Hi Heath,

There seems to be some confusion here. Let me see if I can pick it apart.

Firstly, thank you for making an investment in Xinja, we really appreciate your trust and interest. Sorry you had to be concerned like this, that's not what we hoped for at all.

Right, lets get into it.

1. Xinja is selling shares in Xinja to investors.

2. Equitise is the platform we are required by the regulator to go through in order to crowdfund. They do not own Xinja shares at any point, and have no ability to restrict what is done with them once you own them. They manage the governance of the sale and provide a platform for it. No more.

I believe the clause you quoted is designed to set out that an investor can't hold Equitise accountable if Xinja doesn't succeed and investors can't sell their shares or get diluted.

3. Any shares you buy, once the purchase is complete at both ends, are yours and yours alone. Your understanding that if you buy a share, then you own that share is 100% correct.

4. As far as selling those shares goes, there may be some issues around liquidity ( see the post to Scott Lang at the bottom of the blog) as most start ups can face, but you absolutely own those shares and no document that you may have signed with Equitise will change that.

Perhaps if you are still worried it might be worth getting some independent legal advice, and just being doubly sure of your position?

If you would like to talk further about this, drop me your number to hello@xinja.com.au and I will give you a ring.

Sorry again you had to deal with this stress, and please dont be concerned as you do have a 5 day cool down period if you still decide to withdraw. We want you to be 100% comfortable with your investment.

E

Eric Wilson posted on 12.01.2018

Replied to Heath Smith

sounds exciting so how do i work for you..

Hi this sounds awesome - so how do i get on this exiting journey - money invested btw.
Second question :-) once this offer closes will we be able to trade shares on the ASX?
thx

Tim Gerber posted on 12.01.2018

Hi Tim,

Firstly thanks so much for investing, we will do our absolute best to build a business you can be proud of.

If you would like to work at Xinja, drop your CV to hello@xinja.com.au. We always look through that list for suitable experience before we go external.

Our shares wont be able to traded on the ASX as we are a public unlisted company. You might find my response to Scott Lang further down the blog useful as well.

Cheers

E

Eric Wilson posted on 12.01.2018

Replied to Tim Gerber

Getting a Bank Licence

Sharing a question from an Investor via Email:

"What happens if you don't get your license?"

Betsy Westcott posted on 12.01.2018

Thanks for putting this up on the forum Betsy, its an important risk to be aware of, and thank you to the OP.

I am assuming here that the OP meant our banking license (becoming an ADI). If anyone wants to know in regards to our AFSL or ACL just let me know.

We have deliberately designed our product roll out so that the product which becoming an ADI principally impacts, deposits, is our last to be implemented.

If we were delayed or not granted an ADI status at all, we would seek to continue to operate as a non bank lender, which in of itself can be a very profitable model....think Mortgage Choice or Aussie HomeLoans.

Its not our Plan A, but its a pretty good Plan B.

E

Eric Wilson posted on 12.01.2018

Replied to Betsy Westcott

Expected average growth per year in percentage

Based on business / investment model, do you have estimated average growth of the share per year?

Sureshkumar Muthusamy posted on 12.01.2018

Hi Sureshkumar,

Little more tricky this question. Due to the regulation surrounding crowd funding we have to be very circumspect about predicting numbers like this over extended periods of time.

I think probably the best thing to help you form an opinion is to examine the share price growth of similar businesses in other countries, and then adjust for any Australian factors you might think relevant to estimate our potential share price movement.

Companies you may want to compare us to might be Monzo, Atom, Starling, N26, Simple, Tandem, and anyone else you think might be comparable.

Sorry we cant be more specific and give you an $X over Y time answer but we would probably get into trouble for it. Google should be able to assist with some comparisons fairly quickly though.

E

Eric Wilson posted on 12.01.2018

Replied to Sureshkumar Muthusamy

Funding

Can you provide the estimated wholesale v retail (deposit) funding split over the next couple of years? And a sense of tenor/ liquidity risk involved? Thanks

David Thomas posted on 12.01.2018

Hi David,
To some degree this is controlled by APRA and the conditions of the RADI and how fast we move onto an ADI. Without diving into too much detail it is probably safe to assume that the majority of our funding split will be wholesale for the timeframe you have mentioned.
E

Eric Wilson posted on 12.01.2018

Replied to David Thomas

More details on the services and functionaliy

Hi Eric, Do you have any more details on the functionality, services and use cases that are available in the app?

Luke Beeton posted on 12.01.2018

Hi Luke,

At this point, no further information to publicly release beyond the website and the data in this data room.

We do however have walls at Xinja HQ covered in feature development pipelines, plus we will begin running our customer prototyping sessions again in a couple of months! You would be most welcome to join us at one and help us solve some real customer problems.

Thanks for taking the time to take a look at us.

E

Eric Wilson posted on 12.01.2018

Replied to Luke Beeton

Valuation

Eric et al,
Delighted that you have made it to the point of capital raising & delighted to be an investor!
As I've mentioned before Eric, I'm intrigued with the valuation put on the business, as it appears Ralph Shale is as well (see above).
Can you provide a bit more clarity or colour on this? (Greg)

Gregory Morris posted on 12.01.2018

Hi Greg,
Thanks so much for becoming an investor and all your support over the past couple of years. I really appreciate it, as do the other members of Xinja that know you.
I have responded to Ralph below but do come back if you have any further questions.
E

Eric Wilson posted on 12.01.2018

Replied to Gregory Morris

Investment by Technology Partner

Is your technology partner providing a cash investment or are shares being issue in lieu of fees?

Ralph Shale posted on 12.01.2018

Hi Ralph,

Easy question! The shares are being issued in lieu of fees for work already completed.

E

Eric Wilson posted on 12.01.2018

Replied to Ralph Shale

Valuation

I understand that the offer is made at the valuation of the $5m raised to date, but I would be interested in some references or evidence that this valuation is reasonable? Can you reference other transactions to support this valuation?

Ralph Shale posted on 12.01.2018

Hi Ralph,
Assessing the validity of a valuation is always hard for an investor, or indeed a business itself.
Some of the factors you should consider are the size of the market and the opportunity within it, the competence of the team, the technology being employed, the regulatory environment and the progress toward licensing.
As you mention you might also want to seek out other transactions of this nature that might be similar.
Obviously as we are the first equity crowd fund in Australia, and the first Australian company seeking to becoming a neo bank comparisons are rather limited!
Probably your best bet to judge our valuation would be to go and review the crowdfunding efforts and/or other capital raisings for similar overseas neo banks. Some possible companies to investigate might be Monzo, Atom, Starling or N26.
Cheers
E

Eric Wilson posted on 12.01.2018

Replied to Ralph Shale

ESIC

Hi Xinja Team,

I am super excited to be on board as an investor with Xinja. Honestly speaking I thought of the same idea (digital banking) early last year and was doing some investigation & learning into this startup myself but due to insufficient capital & restricted banking knowledge, I still would have needed another couple of years before making this a reality.

So, in that sense I am glad that Eric Wilson is already well underway with this concept & developing Xinja with a knowledgeable team. I couldn't help myself to get on board with your adventure and am hoping for the best result for all of us.

One question I do want to ask is, if Xinja qualify as ESIC? (Early Stage Innovation Company).

Regards
Milan

Milan Bawa posted on 12.01.2018

Hi Milan,

Thank you so much for investing in us, and for having the same idea! We are honoured that you would invest your hard earned.

As far as Xinja qualifying as an ESIC, it's really important that you seek your own appropriately qualified advice on this. Its not appropriate that you rely on our opinion if this is important to your investment decision. With that in mind, we believe it is likely that Xinja will qualify.

Cheers

E

Eric Wilson posted on 12.01.2018

Replied to Milan Bawa

What do the Intangible Assets consist of

Can you expand on the nature of the intangible assets of AUD1,234,247, and the associated cost of purchasing these assets, in the balance sheet and cash flow statement?

Damian Manchee posted on 12.01.2018

Hi Damian,

Thanks for reaching out and taking an interest.

The intangible assets amount in the balance sheet is the amount we have spent developing our technology (It's referred to in the audited accounts Appendix A as the 'software development fund').

Cheers

E

Eric Wilson posted on 12.01.2018

Replied to Damian Manchee

Name of the global software development company Xinja have partnered with

As per page 11 and 22 of the Offer Doc, Xinja have partnered with this company who invested in the Series B Funding round.in lieu of services rendered. The name of the company has not been disclosed.

Emmanuel Vergara posted on 11.01.2018

Hi Emmanuel,

The organisation's name is Equal Experts. They are a global software development firm headquartered in London and we work with their team in London, the US, and Canada.

https://www.equalexperts.com/

E

Eric Wilson posted on 11.01.2018

Replied to Emmanuel Vergara

Can Xinja outline in more detail the dilution risk faced by retail CSF shareholders

The offer documents contain few references to dilution and section 2.1 Acknowledgement of the investment agreement states the following: the value of [the Investor’s] investment in the Company may be diluted over time...

Does Xinja have any plans to dilute retail CFS Ordinary Shares in the future? Is the dilution risk faced by the Ordinary Shares class greater than the Founders Shares class (for example)?

Ashton Jones posted on 11.01.2018

Hi Ashton,

Thanks for the question. It's a really important point you bring out here.

Firstly, and most importantly, the shares on offer are exactly the same as the shares the Founders have and previous investors have. Everyone gets the same deal. No special privileges for early investors or founders at the expense of retail CSF investors. That is not the Xinja way.

If you get diluted, I get diluted, and the previous investors get diluted.

The only difference with the Founders shares class as opposed to previous investors and retail CSF shares is that should Xinja be liquidated, the Founders shares come behind all the other shares in terms of creditor priority for the first few years of operation. As you can see this puts the Founders in a worse position than previous investors, as it should be if we were to stuff up.

Will all our shares, including the retail CSF shares get diluted in the future? If we seek to raise more capital, which we almost certainly will, the answer is yes. That is common with all start ups and only becomes a cause for concern if the overall value of the business as a whole isn't growing to keep pace with the dilution.

The idea is that it is better to own the leg of an elephant rather than the whole of a mouse!

I hope that helps, please come back with further questions if I didnt explain anything well enough, and I promise no more animal analogies.

Cheers

E

Eric Wilson posted on 11.01.2018

Replied to Ashton Jones

How does Xinja plan to actually give money back to investors

I have read the offer documents carefully but apart from a mention of possible dividends how and when can investors expect to be able to exit their shareholdings in the firm is Xinja expecting to list on the ASX or elsewhere in future

Scott Lang posted on 11.01.2018

Thank you Scott, great question.
Firstly its important for us to be totally transparent and ensure everyone understands a start up business, by its nature is relatively illiquid in the short term. You should probably think of this as at least a twenty four to thirty six month investment.
That said, there could be a couple of ways investors may be able to exit their shareholdings.
The first as you say is by a potential IPO, which could occour late in Year two or Year three. This is a great way for a growing bank (assuming we get our license) to raise regulatory capital as well as provide investors with a chance to exit.
The second possibility is through a trade sale where another large organisation chooses to buy some or all of Xinja. Obviously at this stage we have no idea if this will happen or if the Board would assess the offer to be to the benefit of shareholders.
Finally we are investigating the possibility of establishing a secondary market for existing shareholders to sell and buy amongst themselves. We have to be careful not to fall foul of the legislation regulating exchanges, but we understand a secondary market would be desirable and we are investigating further to see if its possible.
I hope that helps.
Thanks very much for your interest and please dont hesitate to ask any further questions you might have.
All the best
E
Eric Wilson (CEO Xinja)

Eric Wilson posted on 11.01.2018

Replied to Scott Lang

  • > Offer Type : Australian Retail (CSF) Offer This offer is open to Retail and Wholesale/Sophisticated investors in Australia. Whilst in New Zealand the offer is open to Wholesale investors.
  • > Company : Xinja Holdings Limited Securities purchased are for direct equity in Xinja Holdings Limited.
  • > Security Type : Ordinary Shares
  • > Fees Paid by Issuer : 4% of funds raised Upon successful completion of this funding round a total of 4% of capital raised will be paid by the Issuer to Equitise.
  • > Cooling-Off Rights : 5 working days - Retail investors in Australia are able to withdraw their applications for securities with accordance to the Australian Crowd Source Funding (CSF) regulations. For more information please click on the link supplied.
    More Info
  • > Related Parties : None

More detailed information about this offer is contained in this Offer Document

Offer Document
Offer overview

 

The Company is offering 400,000 to 2,400,000 ordinary shares under the following terms:

Executive summary

 

WHAT IS A NEOBANK

The term neobank is synonymous with a purely digital bank. An app with a powerful set of banking functions that are designed to allow an individual to interact entirely through their smartphone.

INTRODUCING XINJA

Xinja is building what we hope will be Australia’s first, independent, 100% digital bank, designed from the ground up for mobile. Xinja is not a bank yet, but it is working closely with regulators to become one and we hope you will invest to help us build a bank we can all be proud of.

Our ability to offer banking services and call ourselves a bank, relies on us gaining a number of licences and approvals from regulators.

We are seeking to become a genuinely new independent bank, finally giving Australians a choice between traditional banks and a new, transparent, digital banking experience.

Xinja seeks to revolutionise our customers’ banking experience, not just making it quick, but also fun and helpful, allowing them to easily track their spending and save for what they want.

More importantly, we seek to help our customers effortlessly get ahead.

Xinja will be more than a mobile banking app because it aims to really help customers make the most out of their money. It will be more than a money management app because it's immediate, allowing actual banking and money management to be combined.

And more than both of these, because it will be intuitive, easy, instant and fun to use.

 

INVESTMENT HIGHLIGHTS

Business model

 

CORE BUSINESS MODEL

The business model of Xinja is in many ways similar to that of a traditional legacy bank with the exception that Xinja doesn’t have physical locations and branches. Xinja will make money by lending money to borrowers at a higher price (interest rate) than we pay to borrow it from depositors and other sources. The difference between the two rates is called the Net Interest Margin (NIM). This will be the principal source of revenue for Xinja.

 

HOW IS XINJA DIFFERENT TO LEGACY BANKS?

Unlike a legacy bank, apart from initial start up costs, Xinja is expected to have very low operating costs. Xinja will be delivered via our customer’s mobile phone. They will interact with us via chat and phone. As Xinja will have no physical locations and branch networks to support, we reduce our costs significantly.

Artificial Intelligence (AI)/Machine learning (ML) are modern technologies that utilise the power of computing to complete tasks and learn as humans do, which allows technology to be adaptive and provide insights such as a human would.

Our planned AI/ML at this stage, whilst basic to begin with, will increase in sophistication over time. Eventually we hope it will provide highly personalised financial tools that nudge our customers in the right directions. It is AI and ML that will make a high level of customer service scalable and affordable.

We also anticipate that Xinja will be well positioned for the arrival of open banking in Australia. Open banking is the ability for customers to direct that their data be sent to other financial institutions, allowing amongst other things rapid opening of accounts and transfer of credit or payment histories.

Xinja should be able to take advantage of this change both to help customers transfer their data wherever they wish, but also to receive such data and use it to create value both for us and our customers, through additional discounted services. Xinja embraces this power to consumers.

We are uniquely positioned to develop and adopt new innovative fintech solutions to create new banking services and customer experiences quickly and more cheaply than existing banks while operating within the Australian regulatory and compliance frameworks.

Milestones & History

 

KEY ACHIEVMENTS TO DATE

Xinja has achieved some key milestones ahead of our official launch:

Team: We have assembled a committed and exceptionally experienced team of customer experience, banking, marketing, and technology professionals to build and launch Xinja.

Product development: We have completed approximately 80% of the alpha version of our app for the prepaid debit card service, and the back end technology to connect to our card provider is well progressed. We are hoping to launch our Alpha product for internal staff to use and test shortly. The Beta product launch of our prepaid debit card is expected in February/March 2018.

Waitlist: We have thousands of Xinjas on our waitlist of pre-registered customers.

Community: We have started to develop a community of like-minded Xinjas. This community wants to see a change in banking, with ethics, customer service and great value for the customer leading the charge. We look forward to these Xinjas becoming our customers and our voice as we seek to change banking in Australia forever.

Brand: We have started to build our brand with multiple media profiles and stories across The Australian Financial Review, The Australian, The Sydney Morning Herald, The Canberra Times, The Brisbane Times, Bloomberg, Sky News Business, Channel 7, Channel 10 as well as multiple web news sites and blogs.

Series A Fundraise: We have successfully completed a Series A fundraise in May of 2017 for ~$2.8M from founders, High Net Worths (HNWs), and Family Offices. This has funded the build of our Beta Product the Prepaid Debit Card and helped to assemble our world class team.

Series B Fundraise: We have successfully raised $5M in our Series B fundraise in November 2017. At least half of this was raised from existing investors who liked what we were doing so much, they chose to reinvest.

Licence submissions: We have already submitted applications for an ACL (Australian Credit Licence), an AFSL (Australian Financial Services Licence) and to become a Restricted ADI (Authorised Deposit-taking Institution). We are well progressed in our consultation with ASIC and APRA, the two key government regulators from whom we need approval. There is of course, no guarantees licenses will be granted.

World-class technology: We have established a vital and valuable partnership with a global software development company who have also invested in the series B funding round. This allows us to have software teams working on Xinja around the world.

Strategy & Vision

 

BUSINESS STRATEGY

Our business strategy is built around our core purpose of helping Australians make more out of their money, and is designed to ensure we are highly competitive and viable. We see no conflict between these two objectives, in fact we regard them as highly complementary.

 

THE XINJA POINT OF DIFFERENCE

Our primary point of difference in the marketplace is that we are built in our customers’ interests. We believe it’s time Australia had access to the kind of banking that is available in other countries, that not only delivers all the benefits of being 100% digital and mobile, such as ease, speed and integration, but also uses the latest technology to help them get ahead by improving their everyday financial behaviour.

The Xinja experience differs from a typical banking experience in 4 key respects:

  • Working for you: At Xinja we are passionate about increasing money mindfulness and financial literacy, and this will become a by-product of using the app on an ongoing basis. The app is being designed to prompt users to better financial behaviour such as setting and sticking to targets, saving on an ongoing basis, ring-fencing particular funds without opening separate accounts, or moving their money around to pay minimum interest on their borrowings. Central to this is automation, so that the optimisation of our customers finances can take place with minimum effort from customers.
  • Easy as… & fun: We are building an entire retail bank for the mobile phone. This means setting up an account in seconds, zero/limited paperwork, tapping to pay a bill and saving with a single swipe. There will be friendly, fast support via chat, and overall it will be much simpler and easier for users to understand and interact with their money, so better, faster money decisions without the angst. Adding to that gamification and rewards, and managing money becomes less of a chore, and more fun. Xinja will gradually release new features to the Australian market.
  • A win-win: Striving for 100% digital and having modern technology lowers our costs, and these savings can be passed on to customers in the form of competitive rates and low or no fees. In addition to that, we are designing our products to help our customers get ahead and so that, if they do well, so do we.
  • Building a bank together: We are building a bank with our customers to address their needs and resolve their problems. To date we have talked to hundreds of Australians about what they find challenging in managing their finances and what they are looking for. Developing the app we’ve run ongoing usability sessions giving pre-registered customers a chance to see early versions and feedback on its design and features; these sessions will carry on after launch so that we can iterate the Beta release with customer input. We will continue to bring customers into all parts of the design process, to help us make decisions and shape our thinking.

 

PHASED PRODUCT RELEASE

Customer Acquisition

 

EARLY ADOPTERS

 

EXTENDING TO A BROADER MAINSTREAM

As a new category and brand, it is important that we provide reasons to engage with Xinja that would appeal to a more mainstream audience. This comes down to including competitive product messaging in our marketing, and we are ensuring our products are highly competitive and that there are strong reasons to adopt Xinja outside of any appreciation of the experience, our approach or the longer term benefits.

 

BRAND POSITIONING & MESSAGING

We are positioning Xinja as working in our customers’ interests. This will be evident in our communications, however the tactical messaging for customer acquisition will focus on key themes that are likely to attract attention i.e. new experience or product benefits. It is essential that all the initial acquisition activity will be categorised by a strong and consistent brand personality and visualisation, to help us build awareness and recognition in early phases.

 

CHANNEL STRATEGY

The channel strategy for Xinja employs both a direct and channel approach. Direct channels use outbound marketing to reach customers whilst a channel approach attracts customers through strategic partnerships and referrals. 

Market Overview

  

THE RISE OF NEOBANKS GLOBALLY

Over the past 3-5 years there has been a global wave of neobanks emerging in most developed financial services economies. This has been made possible by shifting legislative environments, and driven by the mass adoption of smartphones and by customer dissatisfaction with traditional banking institutions.

Retail banks are heavily regulated institutions that hold and provide access to everyday people’s money through bank accounts. For any change to have occurred in this landscape the first step is for regulatory bodies in that country’s jurisdiction to adapt legislation and allow a pathway for new entrants to enter the market. These changes have already materialised in the United Kingdom (UK), the United States of America (USA), across Europe and parts of Asia.

This innovation in retail banking is typified by Monzo in the UK. The regulatory body there has enacted laws that allow Monzo (and others like it) to hold everyday citizens’ money. The regulatory changes have introduced a phased approach to issuing banking licences, rather than the previous “all-or- nothing” approach which presented almost insurmountable barriers to entry. As a result the UK has seen an influx of financial technology entrants that are targeting the most profitable elements of consumer banking. The retail consumers in the UK have benefited greatly from these changes through increased price competition, with improvements including enhanced customer service, more powerful banking technology and lower foreign exchange costs. 

The following diagram depicts the rise of neobanks globally and the amount of capital they have raised to displace traditional banking models.

Risks Facing The Business

 

Below is a description of the main risks facing Xinja. Only the risks that may significantly impact the success or failure of the business have been included.

An investment in Xinja should be seen as high risk and speculative. A description of the main risks that may impact our business is below. Investors should read this section carefully before deciding to apply for shares under the Offer. There are also other, more general, risks associated with Xinja (for example, risks relating to general economic conditions or the inability to sell our shares).

A request from our Chief Executive Officer and Chief Risk Officer (to help us sleep at night), if you are in any doubt, if you are unsure, if you do not understand anything in this document and can’t get an answer, if you cannot afford to lose the investment amount, please, do not invest in this offer. We would much prefer you keep your hard earned money if investing in this offer may place you under financial stress.

Key Risks are within the areas of:

Competitive Landscape

 

THE RETAIL BANKING LANDSCAPE IN AUSTRALIA


Retail banking, often referred to as consumer banking, is mass-market banking that offers services such as transaction and savings accounts, term deposits, personal loans, mortgages, debit and credit cards.

Whilst the neobank model offers a strong value proposition to customers by achieving a high degree of personalisation and automation in banking technology.

The retail banking market in Australia has remained largely stagnant due to regulatory barriers to entry. As a result the incumbent banks have boasted some of highest returns on equity across the globe, in a mass market exceeding $1 trillion Australian dollars in value.

 

Use of funds

 

Alongside this raise, we have just closed a round for $5m on the same valuation that the crowdfunding investors are investing on.

Money in this raise from the crowd funding will be used to:

  1. Acquire and integrate back office digital banking technology to deliver lending and deposit products to market.
  2. Continue to develop our front end app, AI and data analysis capabilities.

Below is a complete breakdown of Xinja’s intended use of crowd sourced funds over the next year:

 

Financial summary

 

The following financials are presented on a consolidated basis. The entities are Get Kite IP Holdings Pty Ltd, Get Kite Services Pty Ltd, Get Kite Pty Ltd, Get Kite Holdings Pty Ltd and Xinja Holdings Limited:

Please note the 2017 figures are management accounts as of 31/12/2017.

All figures are in AUD unless otherwise stated.

*The dates in the Profit and Loss section have been updated as at 31/12/2017 to reflect the dates in the Offer Document.

Press Coverage

As seen in...

Eric Wilson

See profile
David Nichols

See profile
Verity Froud

See profile
Jacqui McPherson

See profile

Appendix A Part 1 - Audited Financial Statements

These are the audited financial statements as of 31st of October for Xinja Holdings Limited (formerly know as Get Kite Holdings 2 Pty Limited).

Download

Appendix A Part 2 - Independent Auditor's Report

This is the Independent Auditor's Review Report for Xinja Holdings Limited (formerly known as Get Kite Holdings 2).

Download

Offer Document - Xinja Holdings Limited

This is the Offer Document for Xinja Holdings Limited. *This document has been updated as at 18/01/2018.

Download

The investors below have committed capital to the business in this funding round.

Jonny Wilkinson

See profile
Jo Shorrock

See profile
Timothy Keogh

See profile
Peter Murray

See profile
Alok Chugh

See profile
Anon
Tania
David Insull

See profile
BigM
Brendan Lee

See profile
TBShee
Peter Dimos

See profile
Definedface
Rohan Davis

See profile
THOMAS BAILEY

See profile
ajt
Tommy
Shaun Berger

See profile
jav24
Garry Scarf

See profile
Samuel Bauers

See profile
K Brooks
JH
Manny05
sunshine
Benjamin Mathews

See profile
SARAH SAFOUR

See profile
Emzed
Carl Giammarco

See profile
amberjee
Allan Lalic

See profile
Blake Davey

See profile
Jamal Hazim

See profile
DeniseC
David Laiosa

See profile
Investor1
Qmar
Shane Nolen

See profile
Steven Hodkin

See profile
Jeremy Pattison

See profile
Sharpie
Ash B
Thomas Murphy

See profile
Matt
Jacquelyn Codd

See profile
Chris Brown

See profile
w
Ian Ward

See profile
Quigs
Sergio Gutierrez

See profile
Obinossor
kwiz
Marko Mumlek

See profile
pmalicse
Elsbeth Torelli

See profile
Graeme Christiansen

See profile
NinjaKondo
adamhills
Maxine Shegog

See profile
Qianyi Hung

See profile
DC
Tech9
Perry
Guy Wallace

See profile
Jabez Tilto

See profile
elljay
Interim
Belinda Cogswell

See profile
JJ
smart guy
Geoff McCully

See profile
Charles Zhang

See profile
Hide
Cassandra Casiou

See profile
Observer
Michael Keem

See profile
PU WANG

See profile
Kelvin Lam

See profile
desertdog
Rachael Poll

See profile
PNH
Martyn Fields

See profile
abc
Kunal Lakhani

See profile
Andy
David Beer

See profile
Anna Brown

See profile
J C
booster
RChippy
Charlie Cull

See profile
James Rawson

See profile
JHE
Andrea Frabetti

See profile
Raoul Duke
Ashley Eustace

See profile
Peter
Richard Ralph

See profile
catchkedar
rosie
AT
Jared Smith

See profile
Alexander Nicholls

See profile
RL
Jefferson Teng

See profile
Dims
QuincyJ
ks
Sandra Kerbler
Stuart Saxby

See profile
young hyuk ham

See profile
The Uncustomary Foodie
CH
Scott Barter

See profile
Jlee
Tim
James Walsh

See profile
Catherine Guest

See profile
Alberto Sirchia

See profile
Dylan Foley

See profile
Danielle Meecham

See profile
EW
Hubert Basquin

See profile
Matthew Grant

See profile
geol29
Gussy
Sam Skelton

See profile
Ben M
Steve
Peta Ryan

See profile
Matt
darrenn
Christopher_M
Luke
Luke
Nicholas Lembo

See profile
Ludovic Patry

See profile
Lorenki
Timothy Anderson

See profile
Sathish Radhakrishnan

See profile
BT
Charlie
SJT
Joshua Qwek

See profile
Marc Bowditch

See profile
Jonathan Batterham

See profile
Jason Szeleczky

See profile
JL
lexmarc
Mohamad Ghoul

See profile
TTLFT
Vivian Chang

See profile
Fergus Stevens

See profile
ddayhhr
ROSHANI SUNILKUMAR BAROT

See profile
William Hardie

See profile
Jimmy Ha

See profile
Mark Whitelock

See profile
Rommero Lagoeiro Carrillo

See profile
Alan Froud

See profile
Symon Parish

See profile
Demetrio Gil

See profile
Tonkatuff
Scott Dawes

See profile
Yen Pan Chung

See profile
PolkaDot
Thomas Birtwhistle

See profile
Viv
TY
Lee
Anomander Rake
Chris Pascoe

See profile
Samantha Clarke

See profile
David Smyth

See profile
Caitlin Harris

See profile
Sandra Cipriotti

See profile
AltruCell
Martin Newkirk

See profile
Xander26
Florida
Robbbo
ginmi
Iluka16
Warwick Morton

See profile
Justin Ji

See profile
slinker71
Priyanka Awadhwal

See profile
Jogeshwar Preet Singh Kuckreja

See profile
Gomez1421
Dale Hunter

See profile
JenniEl
JV
Luke B
TonyW
Gerard Robb

See profile
Jonathan Korn

See profile
michael smith

See profile
Ryan Petrou

See profile
Anonymous
Les Olivieri

See profile
Virgilio Group
George Nittes

See profile
Tom Meagher

See profile
5h4n3
Marc Hillary

See profile
marcus catsaras

See profile
Angela Middleton

See profile
Willo
KKDUB
riaz.budree
Angus Jones

See profile
RedPig
Nitish Arora

See profile
Emily Simpson

See profile
Frank Mattiussi

See profile
SocksOnInvestor
Andrew Barsoum

See profile
Luka
Patricia Cann

See profile
Sultani
Cheryle
Alan Young

See profile
Bingyin ZHAO

See profile
Michael Spiegel

See profile
REBECCA
Joel
Daniel Steen

See profile
Maureen Fromholtz

See profile
beau
Wishbone21
Sam Hodder

See profile
qandccoau
Daniel Shestowsky

See profile
Arvind Goyal

See profile
Keegan Naidoo

See profile
Rian Wickens

See profile
James Douglass

See profile
Charmaine McDonald

See profile
Daniel Wong

See profile
Will Bosma

See profile
Andrew Gideon

See profile
Alexa Freeman

See profile
mhw
Heidi Davies

See profile
EWM
queserasera
NM
Greg Johnson

See profile
Baxter
robert loader

See profile
SHF21
Nicholas Paton

See profile
Joshua Mertens

See profile
Phil Mitchell

See profile
AY
Stuart Ronneberg

See profile
B
Nikolas Kraljevic

See profile
ErinC
Jan
Michael Heeks

See profile
Quaylegeon
Andrew
Cardaz
LMW
Bradley McKeon

See profile
Mellen
SN
Devanshu Parekh

See profile
Peter Doyle

See profile
Robert Davis

See profile
David Ward

See profile
NZ
Warren Leitao

See profile
stephen linklater

See profile
Jamie McPhee

See profile
Amardeep Banwait

See profile
Diamond
andrew laing

See profile
Silvana Mason as trustee for Drew Jay Mason Blauensteiner Mason

See profile
ligetisgoat
JRPINVST
Davodian
Ross Maddock

See profile
Louise Anderson

See profile
Sriganesh
Michael King

See profile
Andrew Lunardi

See profile
Andrew McGregor

See profile
Tracy Le

See profile
Brett Jones

See profile
Jng
Nicole Kennedy

See profile
Poppy Schmurf
Wattsie12
NK
Gursh
Zhi Hao Ong

See profile
Jane Fields
JaWyNinja
James Hua

See profile
ngoo5316
Savanna Koene

See profile
RAJESH AYYAPPAN

See profile
Gav Boyce

See profile
New Age Investor
Gareth Wheeldon

See profile
Sains
JC Marsh
Flibberti
Jack G
Thanh-Tuyen Chung

See profile
Brock Birkin

See profile
Felix Blackman

See profile
Allan Ang

See profile
Brad Smith
Christopher Knight

See profile
Tootle
Jai Sai
SONYA VELTMAN

See profile
snowlaina
Alan Dorsey

See profile
Chris Michailidis

See profile
Bridport Growth
Chris Ash

See profile
George
Bhav Datt

See profile
antony de vries

See profile
peter Salt

See profile
Muscat
Sam L
Dominic Dufaur

See profile
Hello
RG
Jazzy
Dan Johnson

See profile
Jacky Chen

See profile
Christopher Marks

See profile
Tim Poskitt

See profile
kr12345
Elise Michelmore

See profile
Billy Diamataris

See profile
Amy
Natasha
Richard Talbot

See profile
freshia
JLS
Hugh O'Rorke

See profile
Edward Cooper

See profile
Benjamin Avanzi

See profile
Samuel Fink

See profile
amitos
sarah john

See profile
Alex Green

See profile
Matteo Vinci

See profile
Costa P
Twallet
GB
Bryan Sim

See profile
xinja ninja
Arthur Acker

See profile
Kudakwashe Mateta

See profile
Margit Samai

See profile
KATRINA SLATTERY

See profile
J M
Rhys Parsonage-Wintle

See profile
Darshan Sejpal

See profile
BetterBanking
Richard Green

See profile
Rosie
Jon
Terry Avis

See profile
Albert Kwok

See profile
Rajiv Bhatia

See profile
Steve Bond

See profile
Pon Law

See profile
David Edgar

See profile
JNR2402
Clovis Young

See profile
VMAK
Theodora Nisiforou

See profile
Dc123
Rob Weddepohl
Tracey Kay

See profile
Paul Hughes

See profile
Matthew Beattie

See profile
Rafael Kimberley-Bowen

See profile
Luke Campbell

See profile
william roberts

See profile
Russ Watts

See profile
Jeff_01
Fox
Michael Hor

See profile
Shane O'Grady

See profile
PPM
Jane Hely

See profile
LJK
Shift
Daniella Segal

See profile
satyam
Johnathan Russo

See profile
Rebecca Fairbrother

See profile
Kings of Leon
Michele Kennedy

See profile
Rhondah Whitaker

See profile
Matthew Findlay

See profile
Annette
Sharon Lu

See profile
MaXximus
Ian Counsell

See profile
PS
Janice Yu

See profile
Leon
Maf
Rebecca Ninness

See profile
Ridvan Isik

See profile
Chris Murray

See profile
Ncassidy
Parvinder Bala

See profile
Thomson Tang

See profile
Isobel Santos

See profile
Geoff Mayhew

See profile
Akmc
Goce Blazeski

See profile
Aisha Lloyd Bonney

See profile
Ling Fung Ting

See profile
Chun Ng

See profile
Scott Ellis

See profile
Linus Gibson

See profile
David Grime

See profile
Peter Bland

See profile
SBroad
Justina Gill

See profile
Philip Kean

See profile
Donna Mayhew

See profile
Gemma Fallon

See profile
Brendan Malone

See profile
Peter Pennimpede

See profile
Jamie
Steven Hadley

See profile
Mark Chote

See profile
AB
Tom Russell
Reid Pinto

See profile
Elizabeth Dorsey

See profile
Lisa
JA
Neha Datt

See profile
BettyT
Lan Huang
Dino
PV
ilmatic9000
Relsierk
Vishal Chopra

See profile
DL
Dianne Ferrara

See profile
Matt West

See profile
hjl87
Mira Cvijanovic

See profile
Ben Roots

See profile
michaeljones
Sypher
TheBear
Egareth
Ronnie Kyobe

See profile
Peter Long

See profile
David Cen

See profile
Joanne Sellers

See profile
Sandy
Brett Thomas

See profile
Jarrad Bland

See profile
Hui Ru Boey

See profile
Courtney Wilson

See profile
DEIRDRE HINCHCLIFFE

See profile
Shodan
s3083744
Maxwell Nyantachi

See profile
Ainea Faatoafe

See profile
Andrew Hill

See profile
Manish Baheti

See profile
Tracy54a
Adam Roberts

See profile
Thorbot
Kieran O'Grady

See profile
JonnyB
Midsomer
Jacqueline Baldwin

See profile
Phillip
SCC
Glyn Edwards

See profile
Yujen Lin

See profile
Javier Kwon

See profile
GM
Jacqueline Lennon

See profile
Dylan Curtis

See profile
antony stroumos

See profile
Katherine Wimble

See profile
Jarrod Brugel

See profile
Enrique Madritzer
H
RB
Sara Soldo

See profile
Katherine Porter

See profile
Tim Tjun Wong

See profile
Christophe Roose

See profile
Andrew Maloney

See profile
Emma Kipps

See profile
Rachel Thomas

See profile
Andy
Harry More

See profile
Luanne Damiao

See profile
Steve
Deryl Menezes

See profile
Broody81
AuZtiN
SKJS
rmcc
Daniel Potts

See profile
lungii
Ambrose Pang

See profile
Rory Donnelly

See profile
A Rees
H
Melissa
IEK
SAL
Rob Antulov

See profile
Francis Galiluyo

See profile
InvestorM
Nicholas Williams

See profile
VIGNESHWARAN SETHURAMAN

See profile
Peter Knight

See profile
Peter McMahon

See profile
Anthony Marks

See profile
CHRISTOPHER PEMBERTON

See profile
Ramesh Rajan

See profile
Rajat
SEAN GAN

See profile
han
Daniel Russell

See profile
GTinOz
Rachel Jim

See profile
Glenn Roberts

See profile
JN
mtom
Harry Tooth

See profile
Terry Takouridis

See profile
WolfOfGoulburnSt
Ross MacIntyre

See profile
Jon
Raj
SHEELA AWADHWAL

See profile
Damian D'souza

See profile
Robert Pezzimenti

See profile
Gordon Andersen

See profile
Ankit Sethi

See profile
Brandon Lim

See profile
Faisal Muhammad

See profile
AT
Tama Jamieson

See profile
Ant
Keiran Samuels

See profile
Adrian Best
Daniel Press

See profile
xxx
Liz
KWIN
Rigel
Imre Macsuga

See profile
LAJ
GLS
Lynnette MacMartin

See profile
Zac Dobbyn

See profile
Caffen
Gayle Hardie

See profile
Jonathan Jordan

See profile
Partha
Michael
Bryan
Vee
Joanna Hirst

See profile
Gery LOUTRE

See profile
Vikas Chacko

See profile
Jamison Banham

See profile
Dorian Cooper

See profile
Bavan Rajan

See profile
Jang
Leng Lai

See profile
nicholas ponniah

See profile
Chris
David Woolley

See profile
William Jeffries

See profile
Tanya Barker

See profile
Mark Donaldson

See profile
Claudius Stanislaus

See profile
Sandor Helby

See profile
David Salt

See profile
MJN
Dahlan Simpson

See profile
Karthick Ramachandran

See profile
Shannon McCallum

See profile
Don
David M

See profile
MT
JenTi
EB
Jin Yean Tan

See profile
Ashleigh04
Mon
Jonathan Davies

See profile
Li Ern
David Nichols
hugh nairn

See profile
Philip Toop

See profile
Richard Wright

See profile
Joeybahamas
Andrew Bubb

See profile
Mark Cooper

See profile
RJ
Marc Wiggill

See profile
Lyle Robb

See profile
Matthew Russell

See profile
Harikrishnan Gopal

See profile
Grant Strawbridge

See profile
Going4it
Nick Tubb

See profile
Claire Thompson

See profile
Sam Smeaton

See profile
Sheridan Thompson

See profile
Charlie
Chez321
Dikshyant Pradhan

See profile
khaalid ansaari

See profile
Lorraine Stella

See profile
Murti Chirravuri

See profile
mattfishaus
Herbyhawk
Lloyd Wood

See profile
Suzette
Davo
Nick
ljjgold
Josh
Kosgodage Siyaguna

See profile
Owen Reed

See profile
Mark Swain

See profile
Karl Kyle

See profile
Bookman
angelinvestor
Jackson Luff

See profile
Ian Wheeler

See profile
Amanjit Singh Kamal

See profile
Nick
Cush
jorelikins
Eveole
neufundinvestor
Penelope Knoff

See profile
Mrt22
Dale Smith

See profile
Santiago Luna

See profile
Callaghan
Investor1
NinjaXinja
pbb
billybee
Simon Rutledge

See profile
Reg.
David Fuller

See profile
Lee Harrington

See profile
Daniel Pandeleos

See profile
RetireB460
Paul Creighton

See profile
Mirna
Jordan Steley

See profile
Gareth Furber

See profile
David Stack

See profile
aussieinvestor
FZA
Allan McGregor

See profile
James Garner

See profile
DTG
John Koerber

See profile
Arun Nair

See profile
Daniel Douma

See profile
LZahri
SCREENNAME
Brenton Purslowe

See profile
Andrew Summerton

See profile
Mark Sheehan

See profile
William Taylor

See profile
Nid
GP088
Douglas Spiegelhauer

See profile
JOE FRANC

See profile
Aaron Lepoidevin

See profile
CRIT
Xiabour
Upanddown
ma11
Brian
Tom Bloomfield

See profile
Sam Moore

See profile
Ellen
Rosebud
Dr Deva
James Pitt

See profile
crowdymcfundface
junglejock
rhan
Ian Mackay

See profile
Cumberland
alanbhyeo
Adam Sulcas

See profile
Siobhan McTiernan

See profile
Heath Smith

See profile
sds
Peteb12
MM
Mark Needham

See profile
Wyndham Rofe

See profile
Dominic Kelly

See profile
TerryTeo
Ingrid Puzey

See profile
Kishore Kumar Nangia Subramanian

See profile
Mark
Gordon
Joshua Wilson

See profile
Joshua Littin

See profile
Nigel Drummond

See profile
Luke
Valkyrii
Sureshkumar Muthusamy

See profile
ScottNZ
Valerie
Mr Snrub
Benlewis
Tattie
Robert Morris

See profile
weetunga
mdiab
Grant Tyers

See profile
artjay
Simon Lee

See profile
Nick MacPherson

See profile
Phillip Woolcott

See profile
Tom Hissink

See profile
Nicholas Schaeffer

See profile
XO
Edward Mitchell

See profile
Jerrylewis
Chun Yee Chew

See profile
Gregory Morris

See profile
JOHN BLICQ
Ewen Gracie

See profile
Him
Andy Chin

See profile
Stephen Jenkinson

See profile
Peter Sherriff

See profile
Alvin Stewart Shih

See profile
Neville Fields

See profile
Caitlin Judd

See profile
Brian Uy

See profile
Merrin Sullivan

See profile
Investor123
Andrew Aylward

See profile
Michael Ternes

See profile
Alex Jans

See profile
DAVID CAMPBELL

See profile
Ben Taylor

See profile
Nicholas Biehl

See profile
Kyle Knight

See profile
Patrick Mosse

See profile
Marcus Eeson

See profile
Killhouse
LMN
Zed
A3
ashmobs87
Graham Tooley

See profile
Damien Murray

See profile
Todd Soulas

See profile
Robert Armstrong

See profile
Alexander Romanov
James
Larry Meyer

See profile
Argy
Adam Scott

See profile
SNKR
pele
Roy Strugnell

See profile
Burto
Grayson Campbell

See profile
Jacqueline Spaile

See profile
Anthony Fara

See profile
NRB
Alan Lang

See profile
Christine Kelly

See profile
Daniel Vains

See profile
Dylan Steenhuisen

See profile
Ryan Spencer

See profile
Michael Puser

See profile
Alex Mazzoni
Anthony Godden

See profile
Kimberly Fitton

See profile
Govinda Lange

See profile
Chris Lederhose

See profile
Andrew Clatworthy

See profile
Agent W
Andrew Brydon

See profile
David Olofinsky

See profile
Jingwen Liao

See profile
Daniel Hay

See profile
leigh Cleland

See profile
HJPV
Christopher Scriva

See profile
Daniel Raihani

See profile
Verity Froud

See profile
Tim Chesterfield

See profile
SydneySingleMum
JamesBlack91
Yogesh Pathade

See profile
Blue
Josh Graham

See profile
Andre Wilson

See profile
Dylan Jobson

See profile
Keith Brown

See profile
Smarter Solutions
Cindy Vuong

See profile
Patrick Duigan

See profile
Arrog
Harry Evans

See profile
Denis Guillot

See profile
AdamCF
JNAP
Melissa Chan

See profile
Alec Scholes

See profile
Adam
Matthew Callahan

See profile
PeteC
Alex Catalan Flores

See profile
Alex Whitehand

See profile
Andy
Michelle Ross

See profile
Shendon Ewans

See profile
Ronie Palima

See profile
JC
Anoynomous
Murali
Xiaoyun Duan

See profile
Christopher Whiting

See profile
Stephen Townshend

See profile
Nayan Modi

See profile
Anthony
Fernando Garcia

See profile
Elise Hawthorne

See profile
lol
Dave Walker

See profile
Christopher Nedeljkovic

See profile
Jin
Zouhair Diab

See profile
GS
micko
Screen name
aj11
Jos
Anthony Lock

See profile
David Morrissey

See profile
Peter Harm

See profile
Rodney Davidson

See profile
Kerry Apted

See profile
DRNM
Bingdao Chen

See profile
Will Dampney

See profile
Hirendra Prasad

See profile
Nathan Taylor

See profile
Andrea Pesoli

See profile
Kym Chisholm

See profile
MARTYN WILLIAMS

See profile
Damo
Matt
SPVR
Oshri Zvi

See profile
Richard Gould

See profile
Krankling
Samuel Porter

See profile
Jennifer Riches

See profile
David Hoole

See profile
Alexandra Ketelbey

See profile
Eli
Gautam Seth

See profile
Will Rosewarne

See profile
Pippa Diesel

See profile
Ruben Clark

See profile
Michael Lynch

See profile
JiaJia
Peter Gardner

See profile
Tim Muir

See profile
App Banker
A
OZ-LV
Jonah Cretser-Hartenstein

See profile
Mattmatt
Rick Mason

See profile
Milan Bawa
Serge Merzliakov

See profile
Glenn Webster

See profile
Pablo
Cameron Mctavish

See profile
SPDR
Paul Stredder

See profile
Thomas Brownie

See profile
Fraser McTavish

See profile
kahlan
Richard Brook

See profile
Mike SA
Scott Lynch

See profile
SK
Tran Chau Thach

See profile
FRANKB33
David Anjou

See profile
Bindi
Jools
Victoria Moxey

See profile
David Mikhael

See profile
Klinton Moullin

See profile
Nicholas Orford

See profile
Catherine Winn

See profile
Elijah Smit

See profile
Duodecennial
Kerri Russo

See profile
Sed
Benjamin King

See profile
Paul Connor

See profile
Wayne Willis

See profile
UncleBob
Thomas Nador

See profile
Andrew Finlay

See profile
Nic Luiz
Alexandra Taussig

See profile
Netaction
Maxwell
Christopher Stone

See profile
Julia
Lindley Edwards

See profile
Imran Dawood

See profile
TIAN XU

See profile
Yunsheng Chen

See profile
RMCCA1
Matthew Koch

See profile
AL
SB
Glen Frost
sw
Sharon Fuller

See profile
Stoner79
Simon Kang

See profile
Suzanne Riley

See profile
Samuel Rosenthal

See profile
Screen Name
Vishal Patel

See profile
Ripken
Investor1
Dylan Templeton

See profile
MG
Simon
Guy Bane

See profile
Yixin Ding

See profile
Lisa Chen

See profile
Seabreeze
CC
Robyn Lee

See profile
chen-hsiang Liao

See profile
Christopher Xenikas

See profile
Horse
Lachlan Huismann

See profile
belerton
Benjamin Trezise

See profile
Colin Batchelor

See profile
HIDDENNAME
Praveen Kumar Thakur

See profile
Alexander Edmonds

See profile
Gareth Toh

See profile
ricster59
SS
GM
Hilda Balman Kang

See profile
Kathryn Armstrong

See profile
David Gallagher

See profile
David Frewen-Lord

See profile
Tom Louis
Alok Nabi

See profile
Gom
Daniel Polack

See profile
Craig Fenwick

See profile
AJ
Ben
INVESTOR11
PQC
NX
Tracy Woodbury

See profile
thwaitesy
Joseph Bruzzese

See profile
Rob Hartnett

See profile
Nick Dyball

See profile
Freezer15
Steven huynh

See profile
once
Daniel Jeffery

See profile
David Baker

See profile
vevhvev
PaulD
Stuart Hosford

See profile
Mr DC
CBRguy
Tomas Brambora

See profile
Adam Merckel

See profile
Paul Chappell

See profile
KT
Kim Ketelbey

See profile
Sumi
M Yamaji
TV
JB
MichaelK
SebAroney
Kevin Choi

See profile
Aaron Collyer

See profile
JW
HCM
hide sceen name
Dhimant Shah

See profile
Huggy Bear
lubaobao
Dave
Kunal Malhotra

See profile
Christopher Black

See profile
David Neill

See profile
Eric Achman

See profile
Hersh Singh

See profile
bob
FJ
Perrin Stephenson

See profile
Martina Harmata

See profile
MWG
Elizabeth Toussaint

See profile
chammy
Troy Thompson

See profile
John Waring

See profile
Nick Utber

See profile
ST
Bluesky
Nickstir
Denise Kruger

See profile
Investor
Jiajie Ji

See profile
Matthew Flood

See profile
marcusg9
Matt Shaw

See profile
Brendan Caunt

See profile
Broadygirl
mmtyre
Timothy Meehan

See profile
maf4400
JY25
Peter Nemeth

See profile
Els
Tommy
Charles Ponzi
Phil Smith

See profile
David Golding

See profile
David Mitchell

See profile
David Yu
Manny
Michael Scamarcia

See profile
Ross Walsh

See profile
RON
kmval
Christopher Tomich

See profile
JW
BWR1
naicy
JohnD
Nigel Blaney

See profile
David NEWELL

See profile
KK pat

See profile
Ridley
Federation St
Eayl Machlis

See profile
ozinvestor01
Gwen
Daniel Szendrak

See profile
William Owen

See profile
A Cohen
Rohini Goyal

See profile
Anthony Proud

See profile
Ben
Julia Osen

See profile
MT
Thomas Reed

See profile
R
Jamie Healy

See profile
Matthew Prouse

See profile
Nicole Sorensen

See profile
Bryan Graham

See profile
Craig Bartlett

See profile
Dexter Cousins

See profile
Marc Zande

See profile
Anthony Fields

See profile
Holly McGregor

See profile
ABC
Muthukumar Murugesan

See profile
Robert Pashley

See profile
Luis Carlos Perez Rivera

See profile
Mina Parnian

See profile
Karan Mehta

See profile
Adam Dundon

See profile
str3tch
Connor Hammond

See profile
Daniel Hunt

See profile
Tim Gerber

See profile
Adam James

See profile
Ross Payne

See profile
x3danica
Rishi Dawar

See profile
RBLD
Muhammad Khan

See profile
maruyaki
Kristen Gilbert

See profile
Jessica Sturme

See profile
Raymond Elustondo

See profile
pkmendoza
Paul Smith

See profile
Kyle Dean

See profile
Samantha Perez

See profile
Ian Lederhose

See profile
Al
Aaron Kendrick
Michael Proctor

See profile
Kevin Crabtree

See profile
Geffro
Simon Greening

See profile
Deelo
Emmit Housman

See profile
STYLIANOS PAVLOU

See profile
Jainam Shah

See profile
Tee
Naomi Smith

See profile
cheng
David Chia

See profile
Glen Giffen

See profile
Vinoth Manoharan

See profile
Pullarian
Ryan Chalder

See profile
John Burgher

See profile
YDLR
Dylan Perry

See profile
Cam
Sjk
lukep
DRO
Anne Burley

See profile
Joshua Savill

See profile
Sally Park

See profile
Wee Ming Ng

See profile
TWMT
1234
Gaurav Gavri

See profile
Private Investor
Interested
investWB
Josephine Steel

See profile
Panda-Vesta
Zoe Murrell

See profile
balabantuan
going17
Cynthia Lopes

See profile
NickyS
Daniel Dean

See profile
Greg Hickling

See profile
Tez
eminere
PG
Craig
Max
Ian Bradshaw

See profile
J
CN
Daniel Rigney

See profile
Lalinda Wiratunga

See profile
dc
Greg Kennedy

See profile
Joshua
Gregory Twemlow

See profile
Jackson Stein

See profile
bearswan
Neil O'Donnell

See profile
Steven TUNKS

See profile
Paul van Eyk

See profile
Mandeep Sodhi
Danny Fischer

See profile
Christoph Guettinger

See profile
Dean Pappas

See profile
Zi Yu Huang

See profile
Chris Singh

See profile
Benjamin Ralston

See profile
Susan Lee
pasa76
Satoshi Nakamoto
Lesley Burvill

See profile
Joel Kerin

See profile
Suren
mathew baldwin

See profile
JoJo7
katipo
Steven Tucker

See profile
Louise Edgar

See profile
chrissie crowley

See profile
Jason McDougall

See profile
adrian82
souldoubt
G Money
tbp

 


 


Log in to find out more


Login Register

Please make sure you have saved your campaign before leaving this page