Peer-to-Peer

Qualitas start-up Peer Estate connects SMSFs with Asian buyers

Real estate financier Qualitas, backed by Carol and Alan Schwartz, has seeded a start-up that allows small investors to offer home loans to Asian buyers shunned by the major banks. Peer Estate, founded by former Qualitas executive Adam Broder and ANZ banking tech expert Phil Aarons, and seeded with Qualitas funding, is an online marketplace where investors can provide as little as $5000 to fund a first mortgage for an overseas buyer. “Property debt is an asset class everyone understands. However, historically in this country only the ultra-wealthy or institutions have had the ability to secure the outsized returns for relatively low risk from this asset class,” Mr Broder told […]

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Dec
08

5 Tips For Better Understanding Peer-to-Peer Property Lending in Australia

As a bumper year for property investment comes to a close, emerging trends towards non-bank finance in the property space gather steam heading into the new year. Developers need more funds to deliver their projects as the major banks pull back on finance. As more investors get comfortable with researching higher yielding investment opportunities, we take a look at the key things you need to know about ‘Peer-to-Peer’ (P2P) debt-style lending in the Australian property market.   Don’t Chase High Returns If a debt offering is returning 18-30% and is a mezzanine type, deal chances are it is extremely risky. A developer is only paying this pain money as a […]

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Dec
07

Mum and dad investors shift $45 million from banks into P2P loans: RateSetter

Thousands of retail investors are pumping cash into peer-to-peer lending, with RateSetter reporting about $45 million has been taken out of bank accounts and lent directly to borrowers. The online lending platform, the largest in Australia accepting money from retail investors, has recently hit the milestone of having 5000 investors, helped by the very low interest rates being paid by banks. While it took two years to sign up its first 5000 investors, RateSetter’s Australian arm expects this number to double in the next six months, as P2P lending tries to break into turf controlled by the banks. P2P lending is where individuals bypass banks by directly lending their money […]

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Dec
07

RateSetter awarded Canstar 5 star rating for second year

– Ben Milsom, RateSetter Australia We are thrilled to have been awarded Canstar’s coveted ‘5 Star’ rating for our low-rate personal loans. It’s the second year in a row that we’ve been awarded this prestigious rating and RateSetter is the only peer-to-peer lender to achieve such an award. In awarding the maximum five stars, Cantar highlighted the outstanding value RateSetter offers its loan customers, with the award judges noting: “RateSetter has built on its 2015 success, once again achieving a Canstar 5 star rating for outstanding value, for its fixed-rate unsecured personal loan. RateSetter only launched to the Australian public in late 2014; this is the second year that RateSetter’s […]

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Media mogul-backed bank challenger close to breaking even

SocietyOne, a peer-to-peer lender that is partly owned by Rupert Murdoch, Kerry Stokes and James Packer’s companies, expects to start making profits within the next 12 to 18 months. The start-up lender has in recent years been heavily investing in marketing, technology and new staff as it seeks to establish peer-to-peer lending on Australia’s financial landscape, pinching some of the profits banks make from the $100 billion personal credit market. After a year of rapid loan growth, chief executive Jason Yetton said the lender now faced the prospect of breaking even, though this would depend on how much it invested. “We think it can reach profitability over the next 12 […]

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Nov
24

Fintech start-up Airwallex chipping away at the major players

Technology companies do not have to reinvent the industry they address – sometimes they can take a small slice of an enormous industry by being faster and cheaper. The Melbourne start-up, Airwallex, is a case in point. Offering flat-fee pricing for foreign exchange transactions will not instantly challenge the big players but given that forex sees a global daily turnover of about $US1.4 trillion ($1.9 trillion), the year-old business does not need massive market penetration to be highly profitable. “There’s 230 million foreign exchange transactions per month,” says chief executive and co-founder of the company, Jack Zhang. A former IT engineer for the big banks, Zhang says Airwallex uses some […]

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Nov
21

Fintech fund Reinventure seeking riskier investments

Armed with a $50 million cheque from Westpac and many lessons from their first fund, Danny Gilligan and Simon Cant are dialling up the risk. Not the type that raises eyebrows in banking, but rather trying to get more blockbuster returns out of the more mainstream fintech industry, even if that means failing often. “If you look at the data out of the US, the greatest risk as a venture capitalist is that you don’t take enough risk,” Gilligan told The Australian in their first interview since the founders of venture capitalist group Reinventure raised their second fund. “The worst-performing VC funds in the US, 50 per cent of the […]

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PayPal allows sending money by voice via Siri on iPhone

PayPal has announced you can send contacts money simply by asking Siri on your iPhone. You can now use commands such as “Hey, Siri, send John $20 using PayPal”. PayPal says the feature is available from now in 30 countries including Australia with the latest version of the PayPal app. “With so many P2P transactions happening during such a busy season, we’re excited to give our users an early holiday present,” PayPal says in a blogpost today. PayPal is not the first company to offer sending money by voice. Amazon lets you buy certain items from its store using its Amazon Echo home robot. However the robot is not officially […]

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