Funding.com.au, an online platform for peer-to-peer lending, facilitates mortgage loans and investment opportunities for individuals. With a minimum investment of $5,000, individuals can choose terms ranging from 1 month to 36 months, offering target returns of 6% per annum. The platform caters to both individuals and businesses, providing them with the means to raise short and medium-term loans as well as property finance.
According to a report from Financial Review, the latest funding round for Funding.com.au was led by Equity Venture Partners, an existing backer of the company. Equity Venture Partners had previously invested $3.7 million in the platform. The funds raised in this round will be utilized to expedite loan disbursements to customers, followed by offering these loans to the pool of investors on the platform.
FinTech investment in Australasia has witnessed consistent growth since 2016, as indicated by data from FinTech Global. The region experienced a milestone year in terms of funding in the previous year, with a total of $1.5 billion deployed across 46 transactions. This amount reflects a remarkable increase of 1.8 times compared to the capital raised in 2018 and a substantial seven-fold increase from 2015.
