Ingenia backs fintech startup Land Lease Home Loans
Property developer Ingenia Communities Group (ASX: INA) is going high-tech with its “modest” investment to acquire a minority stake in fintech Land Lease Home Loans, giving prospective residents access to a new funding solution.
Founded in January this year by former ANZ Health director Andrew Ralph, Land Lease Home Loans focusses on providing residents of land lease communities similar financing opportunities to those available to traditional house-and-land homeowners.
Ingenia CEO Simon Owen says the investment in the startup is a game changer for residents of land lease communities – one of the sectors the company specialises in.
“After many years of effort, undertaking meetings with literally scores of financiers who may have seen the opportunity but were not prepared to commit to offering a realistic solution, this is a great outcome,” says Owen.
“We have seen the tremendous success of this market in the US where the provision of funding is commonplace and have been very keen to support the inclusion of a well thought out and well executed finance solution for prospective residents who may require a modest loan to facilitate their move to a community.
“The funding solution is a natural next step in the growth and maturity of the land lease sector in Australia. We have been working with Andrew Ralph, the founder of Land Lease Home Loans, who share our vision, to bring this opportunity to market.”
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