Windsor Drake
Transaction · Neobank · 2021

Ubank / 86 400 2021

Ubank acquired 86 400 on May 1, 2021.

Target
86 400
Acquirer
Ubank
Announced
May 1, 2021
Sub-sector
Neobank

Transaction overview

  • Ubank announced the acquisition of 86 400 on May 1, 2021.

Strategic rationale

Acquire modern neobank technology platform with minimal legacy systems to enable faster innovation and deliver deposit and home lending products.

Deal terms & multiples

Deal value
Not disclosed
Target revenue
Not disclosed
Target EBITDA
Not disclosed
EV / Revenue
Not disclosed
EV / EBITDA
Not disclosed
Announcement
May 1, 2021
Acquirer
Ubank (Strategic)
Sub-sector
Neobank

Sources

  • crowdfundinsider.com /2023/10/214744-australias-digital-banking-platform-ubank-to-focus-on-serving-tech-savvy-18-35-age-group/

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