Mondus Capital locks in $100m debt facility in bid to scale zero-deposit home loans
The proptech startup says its AI-powered platform, which identifies high growth-suburbs, and shared equity loans, eliminate the need for deposits.
While most fintechs are solving payments problems, Mondus Capital is attempting to use AI to crack Australia's toughest nut: getting people into their first home without a deposit.
The Australian proptech is currently closing a $5 million equity round and has secured a $100 million wholesale debt facility as it scales its zero-deposit shared equity lending platform that uses artificial intelligence to identify high-growth suburbs for owner-occupiers.
The equity round was is being backed by Gold Coast-based VC firm Admiralty Capital Group and family offices, with the funds called down in tranches as the company writes more loans. The debt facility, arranged in partnership with digital lender WLTH, provides the capital to fund Mondus's 100% loan-to-value mortgages.
Founded in October 2022 by chief executive Nir Davidson and chief growth officer Lucinda Hartley, Mondus targets Australians earning good incomes but unable to save for deposits due to rising rents and house prices.
