Volt Bank
FintechAustraliaClosed 2022
Total Raised
$154M
Peak Valuation
Undisclosed
Employees
—
Year Collapsed
2022
Business model
Digital-only retail bank, later shifting to banking-as-a-service.
In brief
Australia's first fully licensed digital-only bank, it pivoted to a banking-as-a-service model after struggling to scale retail deposits profitably. After failing to raise a further A$200M in mid-2022, it announced it would return all deposits, sell its mortgage book, and hand ba…
See the What Happened tab for the full account.
Key facts
- Founded
- 2017
- Closed
- 2022
- Headquarters
- Sydney, Australia
- Industry
- Fintech
- Employees
- —
- Revenue
- Undisclosed
- Founders
- Steve Weston, Luke Bunbury
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Often compared with: Judo Bank, Revolut.