Australian challenger bank Judo Bank has reached $1bn valuation.
This follows a funding round which raised $230mn in equity.
It has now raised a total of $770mn in equity.
The bank lends to SMEs.
What does this mean?
The latest funding round was only open to existing investors in Judo Bank. The FinTech says its success, and reaching unicorn status, has “underscored the confidence and commitment” of those shareholders, especially in such a volatile market.