- Fintech startup Athena Home Loans raises $25 million.
- The Series B raise was led by Square Peg Capital.
- Super fund Hostplus and Australian venture firm AirTree also invested.
Fintech startup Athena Home Loans closed a $25 million Series B raise, led by Square Peg Capital.
Industry super fund Hostplus and Australian venture firm AirTree also joined the round, taking the start-up’s total capital raised to date to $45 million.
Venture capitalist Paul Bassat, the co-founder of Square Peg and jobs classified site SEEK, sits on the Athena Board.
“Having worked with Nathan, Michael and the team over the last year I have enormous admiration for the speed at which they have navigated complex financial systems to develop a robust and customer-centric mortgage service,” says Bassatt.
“Athena is solving a really important problem for home buyers and is certainly one of the most exciting Fintech companies in Australia.
The raise comes six months after the company announced a Series A fund raise led by Macquarie Bank and Square Peg Capital.
The latest round has firmly set the start-up’s path to becoming Australia’s most innovative home loan provider and validates the company’s model through the strength and calibre of backers.
Athena bypasses the banks to connect borrowers to super fund-backed loans.
The company was founded by two ex-bankers, Nathan Walsh and Michael Starkey.
Hostplus Chief Investment Officer, Sam Sicilia, says Athena is a great example of disruptive innovation delivering big savings for home loan borrowers.
“We are a firm believer in the potential for tech-led innovation to deliver future prosperity for Australians and strong risk-adjusted returns to members,” he says.
James Cameron, Partner at AirTree Ventures says Athena has assembled one of the strongest teams in the Australian fintech market.
“They have built what we believe is the most technologically advanced mortgage platforms in the country – and this means a better experience and better value home loans for Aussie borrowers,” he says.
Athena is currently in pilot stage.
“We are already seeing the power of the Athena proposition to save money and change lives,” says CEO Nathan Walsh.
“A single mum who will be able to pay off her home loan 19 months earlier and save $130,000 over the life of the loan. A family with three young kids who will save $40,000 on their home loan can now take the family on the first holiday in years. It’s powerful stuff,” he says.
“Our key priorities with the investment will be to continue to innovate our platform, invest in talent and scale the business.”