Fintech startup Athena has closed a $70 million Series C round as it looks to push into mortgage origination.
The
country’s largest industry fund, AustralianSuper, joined the raise
alongside long-term backers Square Peg Capital, AirTree Ventures and
Hostplus, as well as Salesforce Ventures and NAB Ventures.
Square Peg’s Paul Bassat joined the Athena board last year when the company raised $15 million
in a Series A. Six months later, in November 2018, it raised $25
million in a Series B. The latest cash injection values the company at
$230 million.
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Sponsor
myCareBase™ is a platform for seniors and their families to find, evaluate, hire and manage home support services, to improve the seniors’ ability to remain living safely in their current home for as long as possible. The caregiver marketplace currently offers candidates in Greater Toronto and Greater Vancouver.
To compliment this platform the company also offers an innovative care management app that centralizes communication and task management among family members and the caregiver, along with a Care Concierge service to help family members with administrative, navigational or organizational tasks.
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The cloud-based fintech, founded in 2017 by ex-NAB
bankers Nathan Walsh and Michael Starkey, also counts Macquarie Bank,
Rice Warner, Apex Capital, and RESIMAC Group among its investors and
from the outset targeted super funds as lending partners.
To date,
Athena has written around $500 million in loans since its launch in
February, with a goal of writing $1 billion in business within 12
months, but has focused on refinancing. It was among the first to
respond to recent RBA rate cuts, passing on the full 25 basis points to
offer a 2.84% p.a variable rate for owner-occupiers and 3.24% for
investors.
The cash injection will have the business eyeing off a
market worth around $380 billion annually, with around 80% of that
figure new mortgages.
Source. Startup Daily, Simon Thomsen, October 21, 2019
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