ISCOVER
Compass Aggregation has acquired a 15 per cent equity stake in a customer relationship management and finance workflow platform for brokers and referral partners.
Commercial asset finance aggregator Compass Aggregation has taken a 15 per cent stake in Loan Garage, the fintech company responsible for the GaragePro platform.
The acquisition – of an undisclosed sum – comes as the two companies work to establish “Australia’s first fully integrated commercial asset finance ecosystem” by providing Compass’ 300-strong broker network with Loan Garage’s Software-as-a-Service (SaaS) platform.
The GaragePro platform aims to support brokers in writing asset finance through its:
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Loan matching assistant: Providing predictive scoring and pre-filled applications.
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Lender marketplace: Live quoting and integration with 90-plus lenders.
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Referral tools: Including embedded lead forms, white label portals, and automated commission splits.
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Compliance engine: Automating AML/KYC requirements, providing NCCP audit trail, and utilising digital e-signatures.
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Marketing suite: Including website widgets, social content, and CRM-integrated campaigns.
The integration of GaragePro across Compass’ network is intended to provide its broker members with the tools for digital scaling without requiring additional administration, licensing, or staffing.
According to the fintech, Loan Garage processed over $38 million in applications in the 2024 calendar year and is now used by around 220 active referral brokers.
This partnership includes a joint go-to-market strategy, aiming for dual revenue streams from aggregation and SaaS, alongside IP growth and co-designed product development.
Compass said its stake provides it with long-term technology growth and joint direction over GaragePro’s asset finance platform roadmap.
Alex Brydges, national sales manager at Compass Finance Australia, stated: “We believe in backing innovation with action. This equity investment reflects our alignment with Loan Garage’s fintech mission and our shared goal to reshape how brokers and referral partners operate, grow, and serve their clients while retaining clients in their own brands and ecosystems.”
Louis “Lucky” Velasquez, CEO & co-founder of Loan Garage, commented: “Our focus has always been on giving brokers the tools they need to own the client experience, drive revenue, and scale. Compass believed in that vision early. This investment supports our ability to keep innovating and collaborating.”
Meanwhile, Robbie Fidler, co-founder and joint CTO of Loan Garage and Compass Aggregation, added: “This is the kind of partnership our industry has been waiting for – collaboration, shared value, and focus on our broker clients’ success.”
The two companies said they plan to scale nationally, increase recurring SaaS revenue, and continue onboarding brokers and partners.
They outlined that the investment supports the ongoing rollout of GaragePro’s v2.0.
Planned features for the new version reportedly include a lender matrix-powered pricing engine, open banking integrations for pre-filled bank data, and multi-entity structures for franchises and dealer groups.
Future updates also involve home loan integrations with other fintech platforms; an updated partner portal; embedded finance widgets; and Navigate 2.0, a white labelled version of GaragePro for Compass brokers.
[Related: New asset finance aggregator launches]
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