Avenue Bank has raised funds by way of ordinary shares via a Series B funding round
Avenue Bank has raised funds to launch next-generation business banking solutions. Amongst the backers of the business, Liberty Financial Group made a strategic investment in Avenue. Liberty is a leading finance group in Australasia and has helped over 500,000 households and SMEs.
Founded in 2018, Avenue Bank is a new neobank targeting Australian SMEs, primarily those with revenues of between US$0.5–15 million. It will focus on the bank guarantee market, bringing an insurance approach to provide its customers with working capital at attractive rates. Avenue Bank aims to unlock opportunities for businesses by providing innovative financial solutions to allow them to back their own future. Founded by Colin Porter and Dale Hurley, the company has also recruited a tier 1 banking management team and a strong board led by Stephen Rix, Chairman of Bennelong Funds Management.
Oaklins’ team in Australia acted as the arranger and assisted Avenue to raise US$27 million.
Talk to the deal team
SulAmérica and Rede D’Or São Luiz have announced a combination
SulAmérica (B3:SULA11), a leading insurance company in Brazil, has announced a combination with Rede D’Or São Luiz S.A. (B3:RDOR3), the largest Brazilian hospital network. The companies had a combined market value of approximately US$21 billion on 18 February 2022.Learn more
IJssel Technologie agrees to sell the company to Argos Wityu
The shareholders of IJssel Technologie have agreed to sell a majority stake in the company to Argos Wityu. By partnering with Argos Wityu, IJssel Technologie welcomes a strong new shareholder that will help strengthen the company’s market-leading position and together will further improve IJssel Technologie’s service offering to address the relevant macro-economic developments, including the trend toward sustainable and smart industries.Learn more
Brookdale Treeland Nurseries has sold a majority stake to Rouge River Capital
The shareholders of Brookdale Treeland Nurseries have sold a controlling stake to Rouge River Capital.Learn more