Victoria has become home to Australia’s first purpose-built small to medium enterprise (SME) lender after financial services firm Judo Capital opened its national headquarters in Melbourne today.
The headquarters will create more than 100 full-time jobs over the next four years and benefit SMEs wanting to take advantage of Judo Capital’s business banking, simpler lending and fast approvals model.
“By bringing innovative companies like Judo Capital to Victoria, we’re helping local businesses, growing the economy and creating jobs. It’s great to see Judo Capital join the likes of Amazon, Alibaba, LiveTiles, David Jones and Culture Amp, all of which chose to base themselves right here in Victoria.”
Minister for Trade and Investment Philip Dalidakis
Judo’s choice to invest in Victoria reflects the Andrews Labor Government’s commitment to attract innovative companies that will contribute to the state’s economy and create local jobs.
The company’s focus on SMEs will also provide more competition in the lending market and create more opportunities for local businesses looking for funding outside of the big financial institutions.
Victoria is already home to two of Australia’s four biggest banks, eight of the country’s largest fifteen super funds and Australia’s sovereign wealth fund, and is quickly becoming the business finance hub of Australia.
The finance sector in Victoria employs more than 109,000 people and generates $40 billion each year for the state’s economy.