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First-time investors are pouring millions of dollars into unlisted start-ups and small-to-medium-sized businesses through online crowdfunding campaigns. But is it really a smart way to invest? ....
First-time investors are pouring millions of dollars into unlisted start-ups and small-to-medium-sized businesses through online crowdfunding campaigns. But is it really a smart way to invest? ....
First-time investors are pouring millions of dollars into unlisted start-ups and small-to-medium-sized businesses through online crowdfunding campaigns. But is it really a smart way to invest? ....
Xinja returns all customer deposits as it finalises exit from banking scene Xinja founder and chief Eric Wilson. Source: supplied. Neobank Xinja has become the first authorised deposit-taking institution (ADI) in Australia to return its deposits to customers, after finalising its exit from the local banking scene. Xinja began returning millions of dollars in deposits to customers in December, following its shock announcement it intended to cease operating as a bank and return its ADI license to the Australian Prudential Regulation Authority (APRA). This return of deposits process was finalised on Tuesday, said APRA, with Xinja transferring its remaining customer accounts to NAB. ....
Neobank Xinja closes as COVID bites capital-raising ability Neobank Xinja has announced it will close all accounts and hand back its banking licence after struggling to raise capital during COVID-19. In an email to customers Xinja said it would discontinue its bank account service and its Stash accounts. Xinja s US share trading product Dabble will continue if circumstances allow. READ MORE: Key dates for the for the closure of some features are listed below. Xinja s CEO Eric Wilson said the business was pivoting away from being a bank. Obviously, this has been an incredibly tough call as all of us here wanted to be able to offer you a new, amazing way to bank, but after COVID19 and an increasingly difficult capital-raising environment affecting who is willing to invest in a new bank, we are convinced that the best thing is for Xinja is to pivot away from being a bank, Mr Wilson said. ....