Orbyt spins into neobanking
Orbyt Corporation, a fintech startup with an SME focus, is in APRA’s queue with an application for a banking licence.
Seasoned executive Angus McBean is the driving force behind Orbyt and he aims to enter the banking sector, under a restricted ADI licence, some time in the third quarter of 2021.
McBean, CEO and executive director, brings more than 30 years’ experience. He was CFO at G&C Mutual Bank, then joined neobank Volt Bank as CFO.
McBean told Banking Day yesterday that the company had raised around A$7.2 million in capital from sophisticated investors, and has a two-part A-series capital raising in train.