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HomeBankingAvenue Bank lands full banking licence from Australian Prudential Regulation Authority

Avenue Bank lands full banking licence from Australian Prudential Regulation Authority

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  • Avenue Bank, a digital business bank based in Sydney, Australia, has received an unrestricted banking license from the Australian Prudential Regulation Authority (APRA).
  • The approval follows the bank’s initial restricted banking license granted in 2021, which was later extended in September 2023.
  • Avenue Bank specializes in providing bank guarantees for small and medium-sized enterprises (SMEs) securing commercial leases.
  • The bank plans to expand its suite of cashflow solutions and further its expansion following a Series D funding round that secured an additional $17.7 million this year.

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