Receivables management group Collection House (ASX: CLH) has today announced an $8.5 million equity investment in Volt Corporation Ltd (Volt), the holding company of Australia’s digital bank, Volt Bank Ltd (Volt Bank).
Volt Bank is a new digital bank, and the first completely new start-up entity to be licensed as a retail bank in the Australian market since 1981.
Collection House has acquired a stake of approximately 4.5% in Volt through its investment. To date, Volt Bank has raised more than $45 million in Tier 1 capital from four funding rounds.
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