This article is from the Australian Property Journal archive
ASX-listed non-bank lender Homeloans is promising to shake up the home loan market by teaming up with fintech startup, Athena.
Under the partnership, Homeloans will license part of Athena’s digital technology platform, and provide Athena with funding support and $2 million in equity investment – increasing Athena’s total capital raise to $20 million.
Athena was founded in June 2017 and will deliver Australia’s first cloud-native digital home loan platform. Co-founders Nathan Walsh and Michael Starkey, both former National Australia Bank bankers, said that “Athena is creating a pathway to become one of Australia’s largest fintech companies.”
“The funding support from Homeloans, combined with our super fund partners, means a scalable, faster-to-market opportunity for us to take a bigger slice of the $1.7 trillion home loan market.
“The partnership is the perfect fit for Athena. Homeloans’ expertise in securitisation markets enables accelerated growth in our loan book, and flexibility to tap a broad set of wholesale funding options over time, including RMBS issuance,” Walsh said.
Homeloans joint CEO Scott McWilliam said the partnership with Athena will support Homeloans’ program of digital innovation and growth, with a focus on the customer experience.
“It will enable Homeloans to leverage a platform that has been developed with a best-in-class customer experience as its guiding principle.
“As the technological evolution of the financial services industry progresses, we are delighted to be working with an organisation that is right at the forefront of digital change,” he added.
Joint CEO Mary Ploughman said the partner will allow Homeloans to leverage Athena’s digital innovation to further grow and enhance its offerings.
Australian Property Journal
