System includes live deal tracking
Funding.com.au has launched a dedicated broker portal to help brokers lodge and track loan applications.
A digital-only lender, Funding specialises in short-term loans secured by property, including bridging finance, business lending and construction funding. Using technology, the Gold Coast-based fintech aims to reimagine how Australians access short-term secured credit.
Funding said the launch of the broker portal reflected its commitment to brokers as key partners.
Using the portal, brokers can lodge deals and track them in real-time. The portal provides live lending turnaround times, live broker chat support and broker tools and supporting documents.
Read more: Funding secures 37.5 million through capital raise
Funding CEO Jack O’Reilly (pictured above left) said Funding’s offer was based “on speed”.
“Brokers can see us approving deals within an hour and track settlements in as little as three days,” O’Reilly said.
Funding is on track to achieve its “biggest year ever”, led by continued growth from the broker channel, he said.
“We have already scaled up our credit team and tripled our BDM team. We aren’t done yet – we continue to increase our offering to brokers though our leading tech like our broker portal and will continue to enhance its capabilities and the tools for brokers,” O’Reilly said.
“We are also committed to grow with more brokers and aggregators so continue to forge our next partnerships.”
Funding chief revenue officer Lee Slattery (pictured above right) said giving brokers the ability to lodge loans and track them live was important to Funding’s overall strategy, which was to “let the broker own the customer”.
Funding aimed to give brokers and their customers “the best possible experience”, he said.
“Everything we do at Funding is digitally led: we are aiming to revolutionise short-term, property secured lending, so having a simple and digital broker platform was a key step for us,” Slattery said.
He said brokers were able to be accredited within an hour, and deals were regularly settled within three days.
“Showcasing this experience and our products to the broker channel through our portal, while giving them more tools to make the experience even better was incredibly important to us,” Slattery said.
Read more: Funding announces two key hires
In April, Funding secured $37.5m in a debt and equity capital raise, through which a new debt facility was secured through MA Financial Group Limited.
O’Reilly said Funding had relationships with aggregators AFG and Vow Financial. In the last two months, broker numbers increased by over 30%, and Funding continued to see record accreditations, he said.
