Anthony Thomson, who co-founded Metro Bank and Atom Bank in the UK is at it again, but now in Oz. He's co-founding "86 400" (named after the seconds in a day) which will launch in early 2019. The startup is wholly funded by the Sydney-based payments services company Cuscal.
NPP is at the core of 86 400’s real-time banking pitch, something Thomson says the big banks “have been very slow to make available”. The neobank will look to raise more than $250 million capital over the first three years of operation and will likely take additional shareholders on board. Having raised more than $AU1 billion for his previous ventures, Thomson says 86 400 is his “best prepared, most capable and well-funded venture to date” and in “the unique position of not going out to look for money”. And he’s not mucking around. “I’m not here to build a small bank. We’re here to build a big bank,” he said.