COMPANY PROFILE

Volt Bank

We’re building a better way to bank and that means having a safe, reliable place to put your money, providing motivation to save often, and finding extra money from your spending to put aside

Sydney, AustraliaFounded 2017Fintech

Valuation $0–100M Latest valuation · 2021

Headcount <100 Current team size

Total funding $50–100M Disclosed equity funding

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About Volt Bank

Volt Bank was an Australian neobank founded in 2017 by Steve Weston and Luke Bunbury. Weston, with a 35-year career in banking including roles at Barclays, Challenger, and NAB, and Bunbury, with a background in financial services, aimed to create a customer-centric digital bank.

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Volt was the first Australian neobank to be granted a restricted Authorised Deposit-taking Institution (ADI) license in 2018, and a full license in 2019. The bank offered a savings account and was developing a banking-as-a-service (BaaS) platform to provide white-label banking products. Its business model was based on this BaaS platform and partnerships, with plans to offer mortgages and other lending products.

However, Volt Bank announced its closure on June 29, 2022, after failing to raise the necessary capital in its Series F funding round to support its operations and meet regulatory requirements. The company returned all deposits to its customers and relinquished its banking license.

Source: Dealroom company data

At a glance

Status: Operational
Founded: 2017
Headquarters: Sydney, Australia
Employees: 12
Open positions: None listed
Dealroom signal: 60.3/100
Industry: Fintech
Sub-industry: Banking
Sector: Fintech, Challenger Bank
Client focus: b2c
Investment activity: 1 company, latest Jul 2021
Capital deployed: —
Preferred round: ACQUISITION
Links: Website LinkedIn X

Latest news

Press, funding announcements and product moves mentioning Volt Bank.

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Funding history

3 recorded events

Company financing events and reported valuations.

Deal type	Date	Amount	Valuation	Investors	Source
SERIES EOther financing	Jun 2021	$9.7M	$97M	Australian Finance Group	—
SERIES COther financing	Jan 2020	$45M	$181M	Undisclosed	↗

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Growth signals

Volt Bank website traffic

Latest recorded traffic for Volt Bank is 1.9K monthly website visits, down 91% over the last three months. Volt Bank's team grew 0% over the past year.

Latest monthly visits1.9K 3-month web change-91% 1-year team growth0%

Monthly website visitsDec 2018–Feb 2023

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