The Australian Digital Bank "Singa" announced today that it has received an investment of A $ 433 million (about 255.04 million US dollars), or about 936 million dirhams from an investor in Dubai, indicating that this amount will be used to finance growth during the next two years.
The bank, which operates exclusively online without branches, added that it would immediately receive A $ 160 million from World Investments, while the remainder would be in installments over 24 months.
Singa was opened in May 2017 and currently has more than 45,000 accounts and deposits in excess of $ 450 million and plans to launch personal and real estate loans this year.