Non-bank lender TechLend only launched two months ago, but already the fintech has received $100 million of bridging loan applications, and banks are understood to be lining up to provide it with a new debt facility.
Despite lockdowns in Melbourne and Sydney, home buyers on the east coast have demonstrated the most demand for its bridging product, which enables home buyers to more easily buy a property before they sell.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
