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An online lending platform that works with Vow Financial mortgage brokers has announced an exclusive partnership with a mortgage comparison website.
Valiant Finance this week revealed an exclusive partnership with Tomorrow Finance. The partnership was launched on 28 November and allows Tomorrow Finance advisers access to business loan options for their clients through the Valiant platform.
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“We are very excited about our partnership with Tomorrow Finance. Both organisations value transparency and choice and share the goal of helping Australians gain access to better finance, whether that be for their new home or business,” Valiant Finance co-founder, Alex Molloy said.
While the SME lending market in Australia continues to evolve, Valiant’s co-founder Ritchie Cotton says it remains a complex and stressful space for Australian businesses.
“Many business owners simply do not have the time or expertise to research their options one-by-one and there is no one place to go to find appropriate finance for their business,” he said.
“By partnering with Tomorrow Finance we are looking forward to helping more Australian business owners unleash the potential of their business and access capital options they never would have otherwise found.”
Valiant’s online platform automatically filters out inappropriate loan options, while its credit team provides advice and support throughout the loan process. The group’s existing partnership with aggregator Vow Financial, announced in June, allows brokers to access the platform on behalf of their clients.
Valiant effectively acts as a comparison engine for Australia’s online SME loan providers. The details of a deal (amount required, available docs etc.) are typed in and generate a shortlist of potential lenders. Rather than submitting an application with multiple lenders to see where the deal might fit, the platform narrows down eligibility in a matter of minutes.
The platform hosts a panel of lenders including Moula, Spotcap, Kikka Capital, Marketlend, ThinCats, Timelio, Banjo, InvoiceX, GetCapital, Max Funding, Crown & Gleeson, EarlyPay, Business Fuel and Capital Finance.
Tomorrow Finance is a home loan comparison platform, allowing consumers to compare 659 home loans from 17 Australian lenders. Over the past seven years Tomorrow Finance has settled over $6 billion.
Valiant’s Mr Ritchie said the partnership is indicative of a wider industry shift, as online alternative lending options in the commercial and business finance space continue to gain ground against more traditional funding institutions and methods.
[Related: Major aggregator trialling digital mortgage process without brokers]
