Avenue Bank is awarded a restricted banking licence
Henslow congratulates Avenue Bank on being awarded their restricted banking licence. APRA granted Avenue Bank a Restricted ADI licence to operate as a restricted bank on 7 September.
Avenue is building a digital business bank, which is focused on next-generation cash flow solutions for Australian small and medium-sized enterprises.
Avenue was founded by Dale Hurley and Colin Porter who previously founded CreditorWatch, and is led by CEO George Confos.
Henslow was pleased to assist Avenue Bank on its Series B funding, which saw Liberty Financial Group join as a backer of the company.
Henslow has a strong track record in supporting growing fintech and financial services companies, which in the past month includes Earlypay on their $19m raise and Ferocia on their $116m sale to Bendigo Bank.
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