“Can a neobank survive without a lending product to fund its deposit book? — answered: no.”
Xinja was founded in 2017 as an Australian fintech and became the country's second neobank to secure a full ADI banking licence in 2019. Launched deposit and savings products in January 2020 but had no lending product to offset the cost of high savings rates. When a A$433M Dubai investment collapsed amid COVID-19, Xinja could not sustain the interest burn and exited banking in December 2020, returning deposits and handing back its licence. The company said it would return to non-bank fintech activity.
Xinja discloses Xinja Bank Limited (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Xinja does not disclose a bank charter of its own; its banking services are provided through Xinja Bank Limited (in-house).
Xinja was founded by Eric Wilson and is founded in 2017, headquartered in 77 King Street, Sydney, Australia.
Xinja has raised unknown in total (latest round: Equity crowdfunding (2019): A$2.6M).
Get a read on where your own stack stands against Xinja and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.