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(Reuters) - Australia's first neobank, Volt Bank Ltd, said on Wednesday it was shutting down its deposit taking business, returning its banking licence and reducing staff numbers after unsuccessful capital raising initiatives.
The neobank, which in February had intended to raise A$200 million ($138.08 million), made the decision after it was unable to secure additional funding to support the business, it said in a statement.
Mortgage broking firm Australian Finance Group (AFG) last year had se...
>>> Read more: Australia's first neobank Volt to shut deposit taking business, return licence
The neobank, which in February had intended to raise A$200 million ($138.08 million), made the decision after it was unable to secure additional funding to support the business, it said in a statement.
Mortgage broking firm Australian Finance Group (AFG) last year had se...
>>> Read more: Australia's first neobank Volt to shut deposit taking business, return licence
