Nick Jacobs and Aaron Bassin Bridgit last week took home the win for:
🚀 Best Innovation in Lending
🚀 Best FinTech growth Story
Huge shout out to Glen Frost and the Bridgit team, customers, partners and shareholders,
The pain 💥
A person buying their next home needs to “bridge” the money needed between buying a new home and selling an existing home.
The pain killer - Bridgit 💊
Bridgit allow borrowers to use the equity from their existing home to buy their next home –
with faster, fairer, and more simple property finance solutions with no double mortgages, no temporary living costs and no missed opportunities.
Technology
With its technology , innovative credit and risk modelling , in-built algorithms and automated processes, Bridgit is able to offer a24-hour approval.
Customer focussed
Bridgit built its own CRM and customer portal, as well as an online application which can be completed in 5 minutes: meaning a smooth experience for customers.
Investors
The company raised $13.2 million in equity and secured $100 million in venture debt funding in 2021 and secured an additional $50 million in funding from Silicon Valley-based fund Partners for Growth (PFG) this year.
Another win for OIF ventures!
What the industry is saying
Finder home loans editor Richard Whitten enthused
“Bridging loans are a neglected segment of the Australian credit landscape and Bridgit has created a new product and platform that serves user needs while adding elements of tech-driven convenience that feel genuinely new for this industry.”
Aaron Bassin shared with Business news Australia last year
Since launching its services the average loan written by Bridgit has been $1 million. The size of Bridgit’s average loan is larger than an average mortgage because the debt straddles both properties in the buy and sell stage.
Bassin says after a heady year of growth, lending volumes are continuing to rise for the company.
Another OIF win!
http://bsivc.blogspot.com/2023/07/oif-team-members-david-shein-jerry.html?m=1
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