Joust taps new Australian crowdfunding rules in bid to raise $2 million

Joust, an Adelaide based fintech that brings competitive tension to the home loan market by linking borrowers directly with over 20 lenders who compete against each other in real-time, has launched an equity crowdfunding campaign to raise $2 million.

The Joust platform brings disruption to the $1.7 trillion home loan mortgage market where $2 billion in fees are paid to mortgage brokers annually.

Described as a “consumer hero” fintech company – as Joust places the power back in consumers’ hands – Joust uses technology to provide transparency, competitive tension and superior customer outcomes to the home loan market.

Key points:

• Aiming to disrupt the mortgage broker channel under siege from the Hayne royal commission financial services inquiry

• Real-time auction platform driving competition and transparency to deliver lower interest rates to customers

• 2100 customers have already used the service, jousting home loans worth in excess of $1 billion

• $4.7 million company valuation (pre-money) representing a discount to comparable fintechs

• Funds raised will set Joust on a growth trajectory which includes new product and geographic expansion

Mark Bevan, Joust co-founder and CEO stated, “Joust is not a comparison site with a myriad of static rates, it is also not an online broker or aggregator. We are a revolutionary market-place model for home loan customers and lenders.”

To read more, please click on the link below…

Source: Joust taps new Australian crowdfunding rules in bid to raise $2 million

To learn more about Joust’s equity crowdfunding campaign, please click here.