Powered by MOMENTUM MEDIA
the adviser logo
Broker

Broker launches online lending marketplace

by Malavika Santhebennur4 minute read
marketplace

A former commerical broker has launched a new private property online lending marketplace that enables real estate developers and investors to pitch their commercial projects to brokers and lenders.

The platform, called Dealt, has been launched by former commercial broker Shaun Smith after securing investment from Australian Securities Exchange-listed alternative asset manager 360 Capital Group.

The launch follows appetite from non-bank lenders, private credit funds and family offices seeking opportunities to invest, according to the company.

The platform guides brokers and borrowers through the application process, and — based on the loan type selected — the platform matches applications with lenders on the platform, in accordance with the lenders’ preferences and credit policies.

Advertisement
Advertisement

Lenders who join the marketplace receive qualified credit proposals that match their lending appetite and are able to bid on transactions of interest via the platform.

Mr Smith, who is now chief executive of Dealt, said that while there are various online lending platforms for residential and small-business sectors, it was lacking in commercial real estate and development finance.

“When we started our research, we were astonished to find that it appears we are the first in the world to launch a platform such as this. Others have tried, but as far as we can ascertain, none have progressed,” he said.

“It is also a fantastic opportunity for mainstream residential brokers to earn additional commissions, as it is now very easy to list a project, with an automated process providing all the details instantly that financiers require to assess the viability of a development, including third-party data from Ilion and Domain.”

Mr Smith added that developers can also review the deals on offer via the platform.

Dealt was reportedly designed to underwrite and analyse all types of development in the Australian market, including industrial, residential, commercial and retail.

It is expected that the platform will release solutions for investment loans and the ability to raise equity directly from the platform in the coming months.

Peter White, Finance Brokers Association of Australia’s managing director, said he supported the development of new opportunities that provide appropriate financing in a period where banks are restricting access to debt for business and commercial loans.

“Fintech, similar to the innovative platform that Dealt has developed, is the future – and Dealt confirms the future has arrived,” Mr White said.  

[Related: Expenditure benchmarks ‘ripe for further guidance’: ASIC]

tablet charts table ta

Malavika Santhebennur

Malavika Santhebennur

AUTHOR

Malavika Santhebennur is a content specialist at Momentum Media, focusing on mortgages and finance writing.

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

CEO Sleepout Pepper Money

Mortgage industry raises more than $160k in CEO Sleepout

On 23 June 2022, several CEOs and directors in the mortgage and finance industry spent a night without shelter to...

READ MORE
alex whitlock

New membership program revealed for The Adviser

Members will be able to access exclusive sales and marketing strategy, business intelligence and exclusive market...

READ MORE
Hot property TA

Hot Property: The biggest property headlines from the week 27 June to...

Welcome to The Adviser’s weekly round-up of the headline stories and news that are important not only for the...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more