Media Release:
Dubai’s World Investments invests A$433m in Xinja Bank

Since the publication of this blog, there have been delays in approval and processing of this investment owing to COVID 19.


  • Xinja Bank will receive A$433 million over 24 months, with initial investment of A$160 million
  • One of the largest investments in an independent Aussie start-up
  • Investment follows Xinja Bank proving its technology capability and growing its customer base. 

Emirates’ World Investments (WI) and Xinja Bank today announced that WI will invest A$433 million in the leading Australian neobank over the next 24 months, subject to relevant approvals.

WI will invest A$160 million immediately, with the remaining A$273 million available to be drawn down in multiple tranches as Xinja Bank’s growth requires over the next two years.

“We think this is the largest single investment in an Australian neobank or start-up, and combined with exceptional customer acquisition and deposit growth, positions Xinja Bank as a frontrunner in the Australian neobank market,”

  • – Eric Wilson, Xinja Bank Founder & Chief Executive 


Xinja Bank, which is 100% digital and built for mobile, was granted a full banking licence in September 2019. It launched the first app and a prepaid card before launching transaction accounts and a saving account called Stash, which in less than eight weeks attracted around A$400 million in deposits.

World Investments Chairman Sheikh Majid Al Nuaimi said: “We are very happy to announce our involvement in Xinja Bank and help it reach even more Australians.”

World Investments is based in Dubai in the United Arab Emirates. It is an experienced investor in the banking industry around the world. It has significant equity holdings in banks across Europe, the Middle East, and now Australia.

World Investments CEO H.E. Zayed bin Rashid Al Qubaisi said: “We believe Xinja Bank is at the cutting edge of next generation banking in Australia. Its technology, commitment to customers and ethical banking philosophy made it an obvious investment choice for us.”

Xinja’s Eric Wilson said: “We are very happy to welcome World Investments as investors in Xinja Bank. WI personifies ‘smart money’. These are investors who bring deep skills and knowledge in banking to help us grow and be successful.”

First Penny Investments helped Xinja Bank secure the investment over two years of discussions; WI’s Zayed bin Rashid and Xinja’s Eric Wilson expressed their gratitude to First Penny Investments’ Executive Directors Michael Gale and Yaser Mansour.

Xinja Bank launched in May 2017 and now has more than 45,000 accounts and more than $450 million in deposits. “It is like no other Australian bank. It uses the latest technology; there are no bricks and mortar branches, and no costly old-style IT systems to maintain and patch,” Mr Wilson said. 

“Xinja Bank keeps costs low so that we can offer our customers the best saving rates, and soon, better lending rates,” Mr Wilson said.

“We know that this is a very difficult time for Australia and the world,” Mr Wilson said. “And considering the health crisis we are all facing, this is not a time to celebrate. 

“I believe Xinja’s mission to help Australians make more of their money is going to be even more important in the coming year. We are only a small part of the economy, but we are committed to continuing to deliver the best in banking outcomes for our customers.”

Xinja Bank will launch personal loans and home loans later this year.

Like any other bank in Australia, Xinja Bank is covered by the Financial Claims Scheme, with deposits up to $250,000 protected by the Australian government.


Founder and chief executive Eric Wilson is available for interview.

For media queries, please contact:

Michelle Innis

P&L Corporate Communications

61 2 9231 5411

61 414 999 693


You can download Xinja’s full press release as a PDF here.


XINJA™ (Xinja Bank Limited ABN 99 618 937 054) has been granted a full banking licence by the Australian Prudential Regulation Authority (APRA) and is an authorised deposit-taking institution (ADI).

Xinja Bank Ltd ABN 99 618 937 054 / Australian Credit Licence (ACL) and Australian Financial Services Licence (AFSL) #501764 / Australian Financial Complaints Authority (AFCA) #40942

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