Fintech startup HashChing has launched an equity crowdfunding campaign
Mortgage marketplace startup HashChing, a fintech startup disrupting the monopoly of the big banks, has launched an equity crowdfunding campaign. It’s currently live on the Equitise platform, which has one of the seven crowdfunding licences issued for the first time this year. HashChing, which is seeking between $1 million and $5 million, has so far raised $286,500, at a minimum $250 investment, with another eight days to go. “A slight difference in interest rates can cost a homeowner thousands of dollar each year,” says Mandeep Sodhi, founder and CEO. “This is why one out of two Australians like to deal with a mortgage broker instead of going direct to the […]
Mortgage group’s “mortgage hell” billboard above CBA
Online mortgage startup HashChing is advertising with a billboard above a Commonwealth Bank of Australia (CBA) branch. The home loan marketplace has launched a campaign against the big banks, which includes this billboard in the Melbourne CBD. The slogan reads, “Our brokers will go to mortgage hell, so you don’t have to”. Mandeep Sodhi, CEO of HashChing, said the new billboard made light of the fact that applying for a mortgage or refinancing an existing one can be quite an onerous experience. He added, “By positioning this billboard above a CBA branch, we’re encouraging the 80% of borrowers who are currently with a big four bank to find a better […]
Tic:Toc boss calls out HEM issues and ‘questionable’ third parties
The CEO of online mortgage lender Tic:Toc Home Loans says that no human judgement need enter the equation when it comes to assessing the expenses of a mortgage applicant. With the first weeks of the banking royal commission now behind us, Tic:Toc founder and CEO Anthony Baum believes it has become clear that there is an opportunity for the mortgage industry to reconsider how customers are assessed for finance. “One key flaw that’s been exposed is the failure to conduct basic checks and balances on the applicants’ household expenses. This includes instances where judgement on a customer’s borrowing capacity has been handed to a raft of questionable third parties,” the […]
Australian Government backs Fintech HashChing with $700,000 loan from Jobs NSW
HashChing, a Sydney-based home loan marketplace, has just announced a $700,000 loan from Jobs NSW. Deputy Premier and Minister for Small Business John Barilaro said the NSW Government had backed the Fintech which is expected to create 46 jobs over the next five years. “Jobs for NSW is helping some of our brightest business people overcome barriers to finance – it’s about making smart investments that allow good business ideas and businesses to grow,” said Barilaro. “The Jobs for NSW Strategic Growth Loan will allow the company to hire software developers, product developers, a data scientist and sales and marketing staff to support HashChing’s continued growth.” HashChing is an online […]
HashChing eyes white label mortgages
The mortgage marketplace has launched a crowdfunding campaign in a bid to help facilitate its growth plans, which include rolling out its own white label loans. On Tuesday (15 May), mortgage marketplace HashChing launched a crowdfunding campaign with the target of raising $5 million to fund its growth ambitions. HashChing has invited interested parties — including brokers, investors and borrowers — to invest a minimum of $250 in the mortgage platform via Sydney-based crowdfunding platform Equitise. Speaking to The Adviser, HashChing CEO Mandeep Sodhi said: “[The] company chose to raise capital via equity crowdfunding to provide an opportunity to the loyal members of the HashChing community to own a part […]
FinTech Australia announce finalist for The Finnies 2018
FinTech Australia and Jobs for NSW have come together for the second year to host the national fintech awards, The Finnies. The Finnies will culminate in a Gala Awards Night Wednesday 13 June 2018 in Sydney. For more information go here. Here is the full list of finalists for the 2018 Finnies: Best Workplace Diversity ● BRICKX ● FirstStep Investments ● Link4 ● Valiant Finance Emerging FinTech Leader of the Year ● Brad Delamare – CEO, Tank Stream Labs ● Louis Edwards – Head of Renewable Energy Finance, RateSetter Australia ● Nick Molnar – Co-Founder & CEO, Afterpay ● Jack O’Reilly – Director, funding.com.au ● Rebecca Schot-Guppy – Community Manager, […]
HashChing puts its hand out to go it alone
Online mortgage marketplace HashChing is looking to raise up to $5 million by the end of June through the power of crowd-funding, in a bid to ensure that it is immunised from the influence of any big bank, says CEO Mandeep Sodhi. Instead, HashChing has partnered with equity crowd-funding platform Equitise to issue its first round of shares to interested investors. According to Mr Sodhi, the crowd-funding route will help HashChing remain an independent voice in the mortgage market. “Unlike many other online mortgage platforms who are backed by a lender, we are and will continue to stand separate from the banks,” he said. “We want our customers to become […]
Ex-NAB execs raise $15m to disrupt home loan market with new start-up Athena
Macquarie Capital and Square Peg are the lead investors in a $15 million funding round for fintech start-up Athena, which aims to use the latest technology to steal a march on the big banks in the competitive home loans market. The firm purports to connect home buyers with loans backed directly by the superannuation industry and was founded by former NAB bankers Nathan Walsh and Michael Starkey. They have built a cloud-based digital home loan platform, which they claim will save some borrowers currently with the big four banks up to $100,000 over the life of a loan. The latest capital raise, which also had participation from Apex Capital and […]
