Fintech startup HashChing is an online marketplace for borrowers and mortgage brokers
Fintech startup HashChing is an online marketplace for borrowers to access pre-negotiated home loan deals from verified mortgage brokers. The Sydney startup connects consumers instantly to their local mortgage broker based on their postcode and deal preference. The platform then sends the borrower a profile of each local mortgage broker with ratings and reviews collected by HashChing.
“While 54 percent of Australians now trust mortgage brokers for home loans, finding a recommended local mortgage broker with ratings is a challenge as there is no other platform doing this currently,” said Mandeep Sodhi, cofounder of HashChing.
“In this on-demand economy, consumers are used to services delivered in minutes and expect a similar experience in mortgages.”
The startup was founded by Sodhi and Atul Narang. Sodhi has experience in financial services and Narang has over 15 years of technology implementation and digital marketing experience. Both founders left their jobs in 2014 to pursue their idea of HashChing and entered the AWI and H2 fintech accelerator where they incubated and developed their idea.
“Home loan is a very competitive space, with most consumers going to comparison sites to compare the rates advertised by different lenders, saving consumers hours of going to individual lender websites to find the rate and more transparency on advertised rates,” said Sodhi.
“HashChing differentiates itself by showing pre-negotiated home loan deals from different lenders that are the same home loan products with the same features advertised on the lender website but with a better rate.”