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WLTH to launch $15m raise, flags expansion


Mortgage Business
WLTH to launch $15m raise, flags expansion
By Sarah Simpkins
26 July 2021
Brisbane digital non-bank lender WLTH is set to open a $15-million capital raise, while signalling plans to drive its next scale-up phase and to support an ocean-cleaning initiative.
The new $15-million Series A raise has come off the back of WLTH closing a $3-million seed round, which the lender has said will drive expansion and green efforts.
The lender has plans to use the funding to grow of its proprietary platforms, ahead of the launches of a business payments platform and loyalty program, as well as senior hires. ....

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Seven money changes Australians must watch now


Trends in finance and technology accelerated rapidly in 2020 and the fast pace of change is tipped to continue this year and impact the way Australians earn, spend, save and invest.
Our personal finances will be affected by the economy, financial markets and the vaccine rollout, according to money specialists, who say some trends are here to stay.
Here are seven to keep an eye on.
1 LOWER INCOMES
People management platform Employment Hero s head of financial wellness, Ray Jaramis, said Australians would earn less than they did last year.
We saw a new record low for wage growth in 2020, which tells us employers simply do not have the same resources or cash available to pay staff the same pay rises and bonuses of previous years, he said. ....

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Neolender CEO reveals broker plans


Neolender CEO reveals broker plans
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The co-founder and CEO of new mortgage lender WLTH has revealed his plans for distribution, which include the broker channel.
The Brisbane-based digital lending and payments provider, WLTH, launched into market earlier this month, announcing its intention to issue $1.23 billion worth of residential and commercial loans by the end of the 2022 financial year (FY22).
The fintech is the brainchild of Brodie Haupt, Drew Haupt, Darren Hodgkin and John Kerr, and builds on the entrepreneurs’ growing group of businesses covering wealth management, property management and mortgage broking.
The new lending offering will cover a range of owner-occupier and commercial loans, funded through a mortgage warehouse. WLTH is also expecting to open a capital raise on 30 January for seed funding. ....

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