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Podium Money has announced its integration of Direct Mortgages into its expanding portfolio.
This transition, effective 5 August 2024, will see Direct Mortgages operate under the Podium Money Group brand, marking a new chapter for both entities.
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Direct Mortgages, established in 2007, is known for its comprehensive lending services, catering to both commercial developments and residential property purchases.
The company, under the leadership of managing director Jacob Santos, recently achieved a notable financial milestone, securing approximately $145 million in loan settlements for the fiscal year 2024.
Santos expressed enthusiasm about the merger, stating: “This strategic partnership and business merger is a huge win for my team and our clients.”
“Petro and the team at Podium Money are a brokerage that I have worked with on several initiatives over the years, and we collectively feel that the benefit to our clients across both businesses will be immense.”
Petro Trianta, managing director of Podium Money, said: “We are extremely excited to have Jacob and the team from Direct Mortgages joining the Podium Money Group family.
“Jacob’s wealth of knowledge, mentoring, broking, and experience as a business owner will be instrumental as we continue to grow and strengthen our market presence.”
Trianta added: “I have known Jacob for more than 15 years, and we have worked on a number of transactions together over the years, so to have him and his team join the Podium Money Group is a natural fit, and we are excited to continue to work closely together.”
Chris Salm, general manager of residential lending at Podium Money, highlighted the strategic benefits of the merger.
“Bringing Direct Mortgages into the Podium Money brand will help the group continue to grow further and scale across the business.
“This will allow us to have clear business lines across residential and commercial lending, enabling us to both scale at pace and offer end-to-end financial services to our large and diverse book of clients.”
The integration of Direct Mortgages represents a milestone in Podium Money’s growth trajectory, following the recent appointment of Nick Green as head of distribution and partnerships in early July.
Green entered the role with more than 15 years of experience in the finance industry (having recently been the head of distribution at private lender Oak Capital). He is responsible for the onboarding and management of Podium’s key business partners, which include referrers and joint venture broker partners across residential, equipment and commercial finance.
With a combined total of approximately $600 million in loan settlements for the fiscal year 2024, the group is well positioned for continued expansion in 2025 and beyond.
[RELATED: Nick Green joins Podium Money]
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