WLTH, one of Queensland’s leading emerging non-bank fintech lenders, has announced an extra $3m in seed funding ahead of embarking on its Series A funding round.
The Brisbane-based fintech is planning to launch itself as an option to the broker channel in the very near future, led by a flagship 1.99% interest rate on variable owner occupier home loans that has been in place since the start of the year.
“This investment will help WLTH to grow our team and continue to build out our suite of fintech products,” said Brodie Haupt, CEO and co-founder at WLTH. “We have an aggressive roadmap of future releases of other products such as our B2B payments platform and loyalty program.”
“Additionally, we will be using some of the investment to continue to build on our world-class team. There are a number of key roles that we will look to bring into the business that will help us to grow the product offering and the existing lending business, as we move towards opening our Series A raise.”
WLTH has improved warehousing capacity, which has allowed it to offer such a low rate on home loans. Since launch in 2021, the rate has already generated $700 million in enquiries.
“We are able to offer such low rates thanks to our relationships with our funding warehouses and the volume that we are writing,” said Haupt. “As a business, we want to continue to have sharp rates coupled with expert support from our team of lending specialists.”
“The broker channel should be getting excited. We are currently in the final stages with our Beta Test group before launching our WLTH products up to the wider broker channel.”
“We are fine-tuning the process with our test group to ensure that when our products are available to brokers it will be a streamlined experience from day one.”
