This article is from the Australian Property Journal archive
AXIOM Properties has acquired real estate funding solutions business ListSure for $2 million.
ListSure will be integrated into Axiom’s current portfolio, capitalising on the existing and expanding growth in the real estate payment services sector.
“We see this ListSure acquisition, with its best-in- class, proprietary technology platform and credit-decisioning capability, as a key piece of Axiom’s strategy to achieve significant cut-through into the real estate payments sector,” said Ben Laurance, managing director at Axiom.
“Our goal is to provide a unique, embeddable payments and lending solution to our customers, with a quality, market-leading user experience.”
ListSure has developed a proprietary credit decision, loan origination and loan management platform for real estate owners, investors and agents.
The business has supported over 8,500 real estate transactions facilitating over $11.5 billion in underlying property sales since its inception, originating more than $37.5 million in loans.
The Listsure acquisition is set to provide new annuity revenue streams to Axiom’s existing suite of ventures, partners and clients, including embeddable lending solutions for owners and investors.
Due diligence revealed ListSure is forecast to achieve a circa $3 million revenue in FY25, with its EBIT project to grow annually, reaching over $8 million by year five.
Additionally, the business is expected to see positive cash flow from year two, growing to more than $18 million by year five.
“This acquisition is highly complementary with our AXIPay capability, which has given us a beachhead position in the rent roll payment sector,” added Laurance.
Axiom funded the acquisition by using a combination of balance sheet capital and an unsecured loan facility provided by investors.
