About Westpac
Westpac is a company based in Sydney (Australia) founded in 1817 was acquired by Arch Capital Group in August 2021. It operates as a Professional Services, and Subscription Services. The company has 35,240 employees as of September 30, 2024. Westpac has completed 4 acquisitions, including Bos, Capital Finance and MoneyBrilliant. Westpac offers products and services including Home Loans, Bank Accounts, Credit Cards, Insurance, and Share Trading. Westpac operates in a competitive market with competitors including Investec, National Australia Bank, CommBank, Macquarie Group and Bank of America, among others.
- Headquarter Sydney, Australia
- Employees 35240 as on 30 Sep, 2024
- Stage Public
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Westpac Banking Corporation
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Annual Revenue
$35.62 B (USD)21.23as on Sep 30, 2024
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Net Profit
$4.32 B (USD)-2.92as on Sep 30, 2024
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EBITDA
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Latest Funding Round
$287.95 M (USD), Debt – Conventional
Aug 01, 2016
- Investors
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Employee Count
35240
as on Sep 30, 2024
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Investments & Acquisitions
Bos
& 3 more
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Acquired by
Arch Capital Group
(Aug 31, 2021)
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IPO & Listings of Westpac
Westpac is a publicly listed company on the ASX with ticker symbol WBC in Australia, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Westpac
Westpac offers a comprehensive portfolio of products and services, including Home Loans, Bank Accounts, Credit Cards, Insurance, and Share Trading. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Tailored home loans are provided for property buyers.
Various bank accounts are offered for personal needs.
Credit cards are issued for personal transactions.
Insurance products are provided for personal protection.
Share trading services are facilitated for investors.
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Software Development Team
230 people
Senior Team
104 people
Leadership Team
93 people
Finance and Accounting
59 people
Data Analysis and Operations Team
50 people
Head Team
24 people
Operations Team
22 people
Legal and Compliance
16 people
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Funding Insights of Westpac
- Total Funding Total Funding
- Total Rounds 1
- Last Round Debt – Conventional — $287.9M
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First Round
First Round
(01 Aug 2016)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2016 | Amount | Debt – Conventional - Westpac | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Westpac
Westpac has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Arch Capital Group. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Diversified property-casualty insurance and reinsurance services are provided.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Westpac
Westpac has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include Bos, Capital Finance and MoneyBrilliant. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Financial wellbeing is supported via account aggregation and spending insights.
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2011 | ||||
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Asset financing company
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1995 | ||||
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Commercial Bank
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1937 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Westpac
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Westpac Comparisons
Competitors of Westpac
Westpac operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Investec, National Australia Bank, CommBank, Macquarie Group and Bank of America, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Global banking, investment, and wealth management services are offered worldwide.
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| domain | founded_year | HQ Location |
Banking and financial services are provided to consumers and businesses.
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| domain | founded_year | HQ Location |
Retail, business, and institutional banking services are offered in Australia.
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| domain | founded_year | HQ Location |
A global financial services organization with Australian heritage is operated.
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| domain | founded_year | HQ Location |
Commercial banking and asset management services are offered worldwide.
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| domain | founded_year | HQ Location |
Commercial banking services are provided internationally by Scotiabank.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Westpac
Frequently Asked Questions about Westpac
When was Westpac founded?
Westpac was founded in 1817 and raised its 1st funding round 199 years after it was founded.
Where is Westpac located?
Westpac is headquartered in Sydney, Australia. It is registered at Sydney, New South Wales, Australia.
How many employees does Westpac have?
As of Sep 30, 2024, the latest employee count at Westpac is 35,240.
What is the annual revenue of Westpac?
Annual revenue of Westpac is $35.62B as on Sep 30, 2024.
What does Westpac do?
Westpac, officially known as Westpac Banking Corporation, is engaged in providing a wide range of banking and financial services. Personal, business, and corporate banking solutions are offered, including bank accounts, home loans, credit cards, and insurance. Investment services such as share trading and superannuation are also provided. Operations are primarily focused in Australia, with a commitment to sustainability, diversity, and community support. Financial hardship assistance and tailored solutions for Indigenous and remote communities are emphasized as part of their corporate responsibility initiatives.
Who are the top competitors of Westpac?
Westpac's top competitors include Investec, National Australia Bank and Scotiabank.
What products or services does Westpac offer?
Westpac offers Home Loans, Bank Accounts, Credit Cards, Insurance, and Share Trading.
Is Westpac publicly traded?
Yes, Westpac is publicly traded on ASX under the ticker symbol WBC.
How many acquisitions has Westpac made?
Westpac has made 4 acquisitions, including Bos, Capital Finance, and MoneyBrilliant.
Who are Westpac's investors?
Westpac has 1 investor. Key investors include Arch Capital Group.
What is Westpac's ticker symbol?
The ticker symbol of Westpac is WBC on ASX.
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