Global fund manager Sapien Group takes controlling stake in online mortgage platform Hashching
Sapien Group, a pan-APAC funds management group (including its fintech-focused venture capital arm Sapien Ventures), has announced that it has taken a controlling interest in Hashching, Australia’s fastest growing digital loan platform. As part of the deal, Sapien has led the latest capital raising round to turbocharge the business.
Hashching is a leading online mortgage marketplace that connects customers directly with verified brokers who further negotiate better rates from lenders, saving valuable time and money. The company acts as a one-stop-shop for customers looking to apply for a mortgage loan or to refinance an existing loan in Australia. Hashching creates a new and unique value proposition to brokers and clients, positioning itself as a one-stop-shop for a range of consumer and enterprise financial products.
Hashching has already helped hundreds of thousands of Australians find great home and business loan deals, to the tune of A$62 billion worth. Building upon the Sapien partnership and with this fresh injection of capital, Hashching is poised to become an even stronger player in the Australian loan market, offering a one-stop-shop for all financial products.
Victor Jiang, Founder and Managing Director of Sapien Group, said, “We are excited to further double-down on our investments into Hashching and provide them with the necessary capital to accelerate growth. The Australian and regional economies are entering a new phase of higher-interest environment and this represents new challenges and opportunities.”
“On the back of the team’s strong execution over the past 2-3 years and given Hashching’s existing market presence and technological lead, we see an inflection point coming to potentially further enhance its unique value proposition to consumers and brokers. Our extended investment in Hashching aligns with our strategy to support the next generation of fintech ventures to acquire a more dominant market-share domestically and expand globally.”
Arun Maharaj, CEO of Hashching, said, “We are thrilled to partner with Sapien Group. Not only was Sapien’s VC arm the first institutional investor in Hashching, the Group has also been our most consistent investor. With their ongoing support and new regional APAC footprint, we can accelerate our growth and diversify our offering to new markets and new sectors. We see a great opportunity to create a unique value proposition to brokers and clients, beyond Australian shores. This partnership will help us achieve our vision of revolutionising the way consumers access and obtain financial products.”
“At a time of economic uncertainty and increasing interest rates, more than ever before Australian borrowers need certainty from their lenders and broker support. Hashching has nearly 5000 registered brokers on its platform nationwide and have begun partnering with additional lenders who sit outside of normal aggregator channels.”
“With the tech sector reeling from a lack of funding more broadly, Hashching is very well placed to increase market share and capitalise on consolidation opportunities which might become available over the next 12-24 months.”