DomaCom Australia completes crowdfunding of first mortgage backed loan

DomaCom Australia Ltd (ASX:DCL) has successfully completed the crowdfunding campaign to fund its first mortgage backed loan.

The company’s online platform provides an opportunity for investors to invest in residential and commercial property across Australia through the fractional acquisition of units in a trust.

Newcastle based financial advice firm Shartru Wealth Management used the DomaCom platform to acquire a $1.6 million residential property in Melbourne using both debt and equity.

Internal gearing to deliver long-term returns

The crowdfunding campaign was completed to raise about $682,000 for the equity component and another campaign was completed to raise the remaining $948,000 debt.

DomaCom chief executive officer Arthur Naoumidis explained that one of the great benefits of property investment is to be able to use internal gearing to deliver long-term tax effective returns.

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Source: DomaCom Australia Ltd completes crowdfunding of first mortgage backed loan