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Uptain, a non-bank lender specialising in residential, commercial, SMSF, and construction loans for business owners and expats, has officially launched.
The new credit provider and manager Uptain is a portfolio company of credit and property fund manager Mountain Asset Management and also partners with wholesale funders to provide residential and commercial property-backed loans.
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The Melbourne-based lender has launched into the broker channel to distribute its residential, commercial, self-managed super fund (SMSF) loans, and construction loans for business owners and expats.
These include owner-occupied and investor property mortgages of up to $2 million for residents and $1.5 million for non-residents/self-employed borrowers and SMSF loans of between $50,000 and $2.5 million.
It utilises artificial intelligence (AI) to “streamline and optimise the borrowing experience for clients”, including by matching borrowers with loans and assisting clients with loans after they have received Foreign Investment Review Board approval.
Uptain has said it is in the process of onboarding with aggregator panels. As such, only brokers who hold their own Australian credit licence (ACL), or credit representatives who obtain their aggregator’s consent to work off-panel, can become accredited.
Uptain is led by Mountain Asset Management director Jason Guo (director), while the sales and distribution channel is being headed up by Linda Leong, previously a senior relationship and business development manager at financial services group BC Invest.
Speaking of the launch, Ms Leong said: “We are thrilled to introduce Uptain to the market as a game changer in the world of non-bank credit providers and managers.
"With our AI-driven approach, we are revolutionising the way business owners and expatriates access financial support, offering customised and innovative solutions that address their unique lending needs.”
Several new lenders have launched into the broker channel in the past 18 months, looking to fill niches in market left by the major banks. New non-banks operating in the broker channel include: Salt&Lime, Clinch, Outfund, and Wave Money.
[Related: 8 non-banks leading the way on products, say brokers]
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