Australian Financial Review: Xinja raises $433m in fresh equity from Middle East

James Eyers of the Australian Financial Review reports on a equity capital injection from a Middle East investor, Emirates’ World Investments, which is pumping $433 million of equity into Xinja over the next two years.

“Xinja said it could be the largest single investment ever made in an Australian start-up.”

You can read the full article here: (Please note, the Australian Financial Review is behind a paywall).

And you can read our full press release here.

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Wow! My goodness.

That’s a very large tick of approval.

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Oh wow!

Amazing effort by all involved.

Have no idea how you pulled this off in the current environment.

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You can’t wrong with that kind of equity and from EWI , Well known around the world especially in Banking & Financial Services sectors.

Congrats @XinjaMaker and all involved big or small it all contributes to
great outcome for business, employees and customers

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Well done guys! Smart move.

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I wonder what negative spin bankingday would put on this one :grinning:

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looking forward to that one :_ninja_emojis_lilac_01:

Make a deal then when we use our card we get Emirates skywards points

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Ha @Hinesy31, we might have to wait a week or two after getting a stack of money to ask for anything else!

More coverage of yesterdays good news in The Australian. Sorry as always, that it’s behind a paywall, but you can see our little summary here

Can we get some clarity on the pathway for investor to monetise and get liquidity, should they invest in Xinja?

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Hey @ABC67 there is nothing set. We would consider an IPO in the future but that wouldn’t be for a couple of years.

Is there a possible retail investor offering in the works in the future between these wholesale investor cap raises?

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Although on the surface this seems like good news, who are Emirates’ World Investments and what steps did Xinja do to evaluate their ethical standards?

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Hi @wasdman sadly regulatory restrictions means we’re no longer eligible to do further equity crowdfunds. We have suggested to the authorities that these restrictions be lifted, however for now we can’t. We could IPO in a couple of years which would be an opportunity, but nothing certain on that at the moment.

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Hi @peterqc and welcome :ninja_emojis_pink_01: Eric has actually written a blog we’re publishing today or tomorrow about WI with some more detail. The deal has taken 2 years with a lot of due diligence on both sides on many points, including this. The group were attracted to us partly because of what they refer to as our ‘ethical banking philosophy’. I’ll post a link to Eric’s blog once live in the forum and this thread.

Wonder no more…
https://www.bankingday.com/nl06_news_selected.php?act=2&stream=20-700&selkey=26001&hlc=2&hlw=

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Deary me - he’s gone apoplectic this time!

I mean… let’s look at it from another perspective. The author is providing an external set of checks and balances. That’s very kind of him. Right?

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Wow, that is a really nasty piece of work.

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