Judo raises A$140m for Australian SME lending

Melbourne-based Judo was founded by an experienced team of bankers.

Judo Capital has raised A$140 million ($103.1 million) to fund specialist lending in the Australian SME sector.

The firm said it aims to challenge banks in Australia and the current approach to lending to SMEs in the country.

Judo is led by co-CEOs David Hornery and Joseph Healy, both experienced international bankers who launched the firm in March 2018.

Hornery has 29 years’ experience in banking in Australia and has held roles at NAB, ANZ and Macquarie Bank. He was most recently an executive general manager at NAB covering 90,000 SME customers. Healy has held executive roles at NAB, ANZ, CIBC World Markets, Citibank and Lloyds Bank. He most recently served as group executive and divisional CEO for NAB’s business banking between 2008-2014.

The Melbourne-headquartered firm has a team of almost 50 people and plans to roll out nationally in the coming months. The firm has applied for a full banking licence with Australian regulator APRA, which it expects to be in place in December 2018.

First Avenue Partners acted as placement agent for Juno.

First Avenue partner and co-head of Asia, Martin Donnelly said: “The success of the Judo capital raise is a great testimony to the rigour of preparation of the Judo team, the integrity of the Australian financial services marketplace and the long term, sustainable growth of the Australian economy. These factors allowed us to attract a globally diverse investor base.”