# Avenue Bank

> Avenue Bank is Australia's first and only bank built exclusively around bank guarantees. Founded by the team behind credit bureau CreditorWatch and licensed by APRA as an authorised deposit-taking institution, the Sydney-based digital bank turns a paper-heavy process that once took four to six weeks into an online application of a few minutes with issuance inside 24 hours. It serves businesses that need to secure commercial leases, construction contracts and performance obligations, backing every guarantee 100% with cash while paying interest on the deposit.

- **Founded:** 2018
- **Headquarters:** Sydney, Australia
- **Founders:** Colin Porter (Founder (also founder of CreditorWatch)), Dale Hurley (Founder (also from CreditorWatch))
- **Team size:** Approximately 26-50 employees
- **Products:** Bank Guarantees, Term Deposits, Security Deposit Accounts
- **Notable:** First and only bank in Australia to specialise exclusively in bank guarantees, Granted an unrestricted full banking (ADI) licence by APRA in March 2024, Reduced bank guarantee issuance from the traditional 4-6 weeks to under 24 hours

## Products & services

- **Bank Guarantees** — 100% cash-backed guarantees for lease, performance, advance payment, retail bond, contract, retention, security deposit, tender and subdivision purposes. Apply online in about 5 minutes, issued within 24 hours, no application or establishment fees, 2.95% p.a. guarantee fee, available in paper and digital formats.
- **Term Deposits** — Competitive term deposits for businesses with rates advertised up to around 5.25% p.a. and a $5,000 minimum deposit.
- **Security Deposit Accounts** — Interest-earning accounts holding the cash that backs a guarantee, so security money is not left idle.

## Achievements

- First and only bank in Australia to specialise exclusively in bank guarantees
- Granted an unrestricted full banking (ADI) licence by APRA in March 2024
- Reduced bank guarantee issuance from the traditional 4-6 weeks to under 24 hours
- Closed a A$37M Series B round led by Liberty Financial Group
- CEO Peita Piper named a finalist in The Urban Developer's Urban Leader Awards 2025

## Latest updates

- **2024-03** — APRA granted Avenue Bank an unrestricted licence to operate as an authorised deposit-taking institution.
- **2025-01** — CEO Peita Piper named a finalist in The Urban Developer's Urban Leader Awards 2025.
- **2025-06** — Avenue Bank exhibited at the Future of Construction Summit in Brisbane, meeting contractors, developers and builders.

## Links

- Website: https://www.avenuebank.com.au
- LinkedIn: https://au.linkedin.com/company/avenuebank
- Facebook: https://www.facebook.com/people/Avenue-Bank/61556723198615/

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Profile page: https://yespress.io/avenue-bank
Published by YesPress — https://yespress.io
Last updated: 2026-08-04