LoanOptions.ai reports strong FY24 performance with growing partner channel
Australia’s leading loan matching technology and broker, LoanOptions.ai, has reported solid growth for FY24 despite a challenging market environment.
The company achieved a 20% increase in deal growth and funded over $96 million in loans, up 14% from FY23.
Key highlights from FY24 include:
- Deal Growth: +20%
- Net Amount Financed: $96 million+ (14% growth)
- Total Loan Contracts Settled: 2948+ (20% growth)
- Annual Revenue: $7.8 million+ (18% growth)
- Lender Diversity: 88 banks and lenders, with no single lender receiving more than 15% of loans
“Our partner channel is growing rapidly and is on track to become our dominant channel,” said Julian Fayad (pictured), Founder and CEO of LoanOptions.ai. “We paid out over $2.2 million in referral payments this year, reflecting an 18% growth from the previous year.”
LoanOptions.ai’s B2B2C model embeds its technology into other finance systems, enabling mortgage brokers, car dealers, and financial advisors to leverage its platform for better client service. The company also launched LO 3.0, featuring the AutoCompleteEngine (ACE), which reduces the loan application process time to as little as five minutes.
Despite the high interest rates and inflation, LoanOptions.ai maintained a diverse lender panel and continued to prioritize client needs over incentives. The company’s smallest loan was $2,000, and the largest was $658,700, with an average loan size of $32,800.
Looking ahead, LoanOptions.ai plans to launch a new flagship home loan version of its technology as a SaaS product, further expanding its services to mortgage broker partners.
