Xinja applying for JobKeeper?

I would have thought an announcement about this would have been made? Even if just to calm the jitters?

https://www.bankingday.com/xinja-seeks-jobkeeper-payment

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Hi @TravisC - we actually only applied for Jobkeeper on Friday - we did the self assessment and qualified but it hasn’t happened yet. There are now >900,000 Aussie companies who’ve applied so not sure an announcement would have been the right thing, but to allay some fears…We have been running lean and cost cutting through a variety of measures as a precaution. The money we anticipate from the WI investment is going to take a lot longer to get here thanks to COVID, as the UAE regulators have almost slowed to a halt. So the due diligence is underway, but meanwhile we need to tighten our belt. We’ve also did another capital raise and raised $10million last week, so we are where we need to be.

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Sounds that Xinja is taking a very prudent approach especially as the ongoing delay in getting lending products to the market impacts adversely on cashflow.

Is there any update you can share on getting Personal Loans and Home Loans to market and what’s the latest regarding Secret Squirrel?

Warm Regards Glenn

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Hey Glenn!

You’re spot on :blush:

In terms of lending - if you’re interested in receiving an early invite, please shoot an email to homeloans@xinja.com.au. We’re aiming to launch Home Loans at the end of the year, and looking at launching personal loans next quarter (which, as you can imagine, is part of the way there).

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as to secret squirrel, well that’s a secret :_ninja_emojis_lilac_01: This is going to be next quarter too - we are keen to get a bit beyond lockdown for launch.

Got a bit of a fright when read the Banker articles but feeling reassured!

Good luck going forward!

Journeyman

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Thank you for the support @Journeyman! Pleased to hear you’re feeling reassured :smile: