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86 400

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Australia’s newest bank and first smartbank

Sydney, AustraliaFounded 2017Fintech

Valuation $100–500M Latest valuation · 2021

Revenue <$1M Latest reported FY

Headcount 500–1k Current team size

Total funding $10–50M Disclosed equity funding

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About 86 400

86 400 was a digital-only bank in Australia, also known as a neobank, that was granted a full banking license in 2019. The company aimed to provide a smarter banking experience to its customers through the use of technology.

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In 2022, 86 400 merged with UBank, another digital bank, and the combined entity now operates under the UBank brand. This merger has allowed the new UBank to leverage 86 400's technology platform to offer an enhanced range of products and a better customer experience. The bank's business model is centered on providing a digital-first banking experience, with a focus on mobile-based banking services. The company makes money through traditional banking revenue streams, such as interest on loans and fees for services.

Source: Dealroom company data

At a glance

Status: Acquired
Founded: 2017
Headquarters: Sydney, Australia
Employees: 923
Open positions: None listed
Dealroom signal: 78.0/100
Industry: Fintech
Sub-industry: Banking
Sector: Fintech, Challenger Bank
Client focus: b2c
Links: Website LinkedIn X

Latest news

Press, funding announcements and product moves mentioning 86 400.

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Funding history

2 recorded events

Company financing events and reported valuations.

Deal type	Date	Amount	Valuation	Investors	Source
ACQUISITION✓Exit	Jan 2021	$169M	$207M	UBank	↗
SERIES B✓Equity / VC	Apr 2020	$34M	$136M	Morgan Stanley · NAB - National Australia Bank	—

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Financials

Revenue over time

Revenue, earnings and other financial measures where available. Years marked “E” are estimates.

Year	Revenue	Growth
2026
2025
2024
2023
2022
2021
2020		—

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Growth signals

86 400 website traffic

Latest recorded traffic for 86 400 is 1.6K monthly website visits, down 68% over the last three months. 86 400's team grew 11.6% over the past year.

Latest monthly visits1.6K 3-month web change-68% 1-year team growth+11.6%

Monthly website visitsDec 2018–Jul 2026

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