Non-bank lender Bridgit has banked $7.7 million from OIF Ventures and Perennial Partners, aiming to tap into the growing gap left by big banks reluctant to offer bridging loans for people wanting to buy another property before they sell the first.
The Sydney-based start-up booked $500 million in loan applications last year, and will use the fresh venture capital to expand its same day, and sometimes same hour, loan approval technology. Of those $500 million loan applications, Bridgit approved half.
Loading...
Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
