Drive On Finance partners with LoanOptions.ai to boost growth

Drive On Finance, the Sydney based fintech, today announced a partnership with LoanOptions.ai to help deliver on its mission to offer more Australians “asset finance made easy”.

Founded by Simon Penhaligon and Grant Clayton, Drive On Finance has become a leading provider of asset finance in the B2B car dealership space and has been loo king for a strong partner to service a B2C channel. LoanOptions.ai uses artificial intelligence to profile applicants, then present the most competitive products available for their situation.

“We are excited to welcome the LoanOptions.ai crew to the team,” said Simon Penhaligon, co-founder of Drive On. “LoanOptions.ai brings new opportunities to introduce AI into our already strong dealership process to reduce decisioning timeframes and supercharge distribution. With Julian Fayad taking up a leadership role across both brands, we are now more than ever confident in our ability to sail across a blue ocean of opportunity and become the market leader in asset finance.”

Founded by Julian Fayad, LoanOptions.ai began trading in August 2020 and has already managed to help clients fund more than $13,000,000 in car loans, personal loans, business loans and equipment finance, making it one of Australia’s fastest growing brokers.

“LoanOptions.ai is a growth company chasing an enormous opportunity ahead of it. There are many marketplaces in our space, none of which have any real intelligence or tailoring for individual clients.” said Julian Fayad, founder of LoanOptions.ai.

“Our employees have been the DNA of our success and we’re excited to add the talent and experience of the Drive On team.”

The move will combine business operations and see LoanOptions.ai supported by Drive On’s dedicated team of processing specialists.