Sapien takes major stake in online mortgage marketplace

PAN-APAC funds management group Sapien Group has taken a controlling interest in Australia’s fastest growing digital loan platform, Hashching.

The loan platform is a leading online mortgage marketplace, which connects customers with verified brokers to negotiate better loans for lenders.

“We are thrilled to partner with Sapien Group. Not only was Sapien’s VC arm the first institutional investor in Hashching, the Group has also been our most consistent investor. With their ongoing support and new regional APAC footprint, we can accelerate our growth and diversify our offering to new markets and new sectors,” said Arun Maharaj, CEO at Hashching.

“We see a great opportunity to create a unique value proposition to brokers and clients, beyond Australian shores. This partnership will help us achieve our vision of revolutionising the way consumers access and obtain financial products.”

To date Hashching has aided hundreds of thousands of Australians in finding home and business loans, worth $62 billion.

“At a time of economic uncertainty and increasing interest rates, more than ever before Australian borrowers need certainty from their lenders and broker support. Hashching has nearly 5000 registered brokers on its platform nationwide and have begun partnering with additional lenders who sit outside of normal aggregator channels,” added Maharaj.

The fourth quarter of 2022 saw a marginal increase in residential mortgage delinquency rates, which are only set to grow throughout 2023, as mortgage holders capacity to repay debt continues to be eroded.

While recent analysis by CoreLogic named the “fixed-rate cliff” as amongst the biggest risks to Australian housing market values and stability, as around two thirds of outstanding fixed mortgage debt set to expire this year.

As part of the deal, Sapien group led the latest round of capital raising for Hashching.

“We are excited to further double-down on our investments into Hashching and provide them with the necessary capital to accelerate growth. The Australian and regional economies are entering a new phase of higher-interest environment and this represents new challenges and opportunities,” said Victor Jiang, founder and managing director of Sapien Group.

“Our extended investment in Hashching aligns with our strategy to support the next generation of fintech ventures to acquire a more dominant market-share domestically and expand globally.”