By Tegan Jones
Publication Date: 2026-05-14 01:37:00
A group of former Up Bank employees have raised $4 million in pre-seed funding for a new Melbourne startup, betting that agent AI will fundamentally change the way consumers handle money.
Extraordinary Money, also known as XMO, was co-founded by former Up Chief Product Officer Anson Parker and payments executive Sam Mendelsohn.
The round was co-led by Airtree Ventures and Triple Bubble, with participation from Arconic Capital and several angel investors.
The startup plans to launch in Australia within the next 12 months and is currently applying for both an Australian Financial Services License (AFSL) and an Australian Credit License (ACL).
The company describes itself as a developer of “AI-native consumer finance” and argues that the next wave of fintech products will go beyond adding chatbot functionality to existing banking apps.
“We view our clients not only as individuals, but also as their agents,” Parker said Daily start.
