- Avenue Bank, a digital business bank based in Sydney, Australia, has received an unrestricted banking license from the Australian Prudential Regulation Authority (APRA).
- The approval follows the bank’s initial restricted banking license granted in 2021, which was later extended in September 2023.
- Avenue Bank specializes in providing bank guarantees for small and medium-sized enterprises (SMEs) securing commercial leases.
- The bank plans to expand its suite of cashflow solutions and further its expansion following a Series D funding round that secured an additional $17.7 million this year.
