Friday, December 14

Australia’s Largest Online Marketplace For Borrowers, HashChing, Is Looking To Raise Up To $5m On ECF Platform Equitise

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HashChing, an Australian Fintech startup, that bills itself as the countries largest online marketplace for borrowers to securing competitive home loan deals from verified mortgage brokers, is looking to raise up to $5 million on the Equity Crowdfunding Platform Equitise.

The company was founded in 2015 by Atal Narang and Mandeep Sodhi. Atal has since moved on from the company and is currently an Entrepreneur in Residence at Sapien Ventures, while Mandeep continues as the CEO of the company.

In the competitive space of home loans and mortgage comparison websites HashChing differentiates itself by providing access to pre-negotiated home loan deals from their pool of 80+ lenders and more than 580 paying brokers they have already signed up to the platform.

With a large and active network of Brokers on the platform HashChing also offers you the ability to ask home loan experts a question online and get answers in minutes. And if you want to take things offline then their pool of mortgage brokers can meet face to face and in person 7 days a week.

HashChing has also secured multiple rounds of funding from strategic and well known investors in the Australian startup ecosystem including Picus Capital, H2 Ventures, Sapien Ventures, as well as individual sophisticated investors who have experience in financial technology, investment banking, real estate and mortgage broking.

With over 1,700 loans now settled on the platform and $780,000 revenue generated in the FY ending June 2017, the company is forecast to hit approximately $1.9 million in revenue for the year ending June 2018. Thus, making it an ideal time to consider raising additional funds via Equity Crowdfunding.

The campaign that is currently running on the Equitise platform is targeting a minimum raise of $1 million, and up to $5 million in funding at a $25 million pre-money valuation.

Should the company be successful with their campaign the funds will go towards developing new go-to-market channels, additional marketing and PR, further product development and building out their team to support the new product offerings and their broker side of the business.

The company is also currently exploring Artificial Intelligence and Machine Learning to learn from broker behaviour at a postcode level in real-time. The idea is that by applying this technology HashChing will be able to help brokers improve their personal and offer a more personalised experience at scale.

To learn more about HashChing and the currently campaign they are running on Equitise click here.

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About Author

Paul Towers is a passionate supporter of the Australian startup ecosystem and the Founder of Startup Soda. Originally, Startup Soda was solely a newsletter that helped curate the best content from the Australian startup community, more recently however it has turned into a media platform with the aim of improving coverage of Australian Startups, Founders and VC's.

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