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We’re proud to announce our $50 million investment funding
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This article was written when Bridgit was known as TechLend, we rebranded in early 2022 to Bridgit.
We are proud to share our recent success of securing an additional $50 million in funding from Silicon Valley-based fund Partners for Growth (PFG). Our goal is to revolutionise the way homeowners buy and sell property, and PFG recognises the opportunity that exists in bringing a customer-centric, and technology-led mindset to redefine what it means to secure property financing.
This week, the Australian Financial Review released an article announcing our latest investment from PFG, with the managing director, Jason Georgatos stating, “We’re pleased to partner with TechLend on this latest funding round, which provides funding to allow the company to continue its rapid growth, in what is a near-untapped area of the Australian lending market. Techlend’s vision fits well with PFG’s strategy of backing global fintech disruptors.”
We are excited to work with such a highly regarded and successful team that understands the problem we are trying to solve and the opportunity we have in solving it. The additional $50Million in funding is vital for the future growth and development of TechLend, allowing us to compete with traditional lenders by leveraging the power of technology and challenging the status quo every step of the way.
Use this space to follow us on our journey of providing Australians with faster, fairer, and more simple property finance solutions.
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Eligibility and approval is subject to standard credit assessment and not all amounts, term lengths or rates will be available to all applicants. Fees, terms and conditions apply.
1The Stay Rate will only apply if a repayment is made from the sale of Outgoing Properties (or another repayment method approved by us, at our discretion) and the repayment reduces the Amount You Owe to an amount that is equal to or less than your Residual Loan Balance.
^Comparison rate is calculated on a $150,000 secured loan over a 25-year term. For Upsizer loans, a Bridge Rate applies for the first 12 months, followed by a Stay Rate thereafter. For Downsizer loans, only the Bridge Rate applies. WARNING: This comparison rate is true only for the example provided and may not include all fees and charges. Different loan amounts, terms, or fee structures will result in different comparison rates. For interest-only periods, your loan balance does not reduce, meaning you may pay more interest over the life of the loan. Set-up fee from 0.60% and government charges apply.