Business
Xinja needs $5 million to launch new products, faces investor pushback – Sydney Morning Herald
The fallen neobank needs more money to launch new financial products aimed at Millennials but shareholders have been warned the company could yet go under.
Australian investor Michael Ginsburg said he also voted against the name change, adding the meeting was very disappointing.
I believe the brand Xinja is tarnished beyond repair and the company should abandon it altogether and start from scratch with a new name and a new board, Mr Ginsburg said.
In the non-binding poll, 71 per cent of shareholders approved plans to develop new products and 99 per cent voted against winding up the company, after being told between 1 and 5 cents in every dollar invested…
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