Publication Date: Friday, 24 January 2020
This article originally appeared in Mortgage Professional Australia
Australian non-bank lender Brighten Home Loans has secured a $250 million tranche of funding through a warehouse facility with Goldman Sachs.
This funding comes a little more than a year after securing its first $500 million warehouse facility from another global financial institution, as Brighten continues to rapidly scale up its lending business.
The Sydney-based lender secured the second tranche of funding following a period of strong lending growth.
“The Brighten team is very pleased to have secured this additional funding that will be used to further expand our lending business,” Brighten head of securitisation and funding Adam Moore said.
Moore added that Brighten was also in active discussions with a range of additional potential funding partners to further fund its growth ambitions.
The emerging non-bank lender believes it is an ideal time to expand its lending business into the growing Prime and Near Prime loan segments.
“Based on our research and feedback from brokers and industry groups we believe we will be able to compete through a combination of a streamlined product offering, simple and competitive pricing structure, along with a superior service proposition assisted through our enhanced technology platform,” Brighten head of lending operations Jason Ford said.
Brighten has made substantial progress since it commenced operations in 2017, with extensive investment undertaken in building a platform for growth.
Given the existing infrastructure and distribution networks in place, along with the introduction of new lending products tailored to specific client demand, Brighten said it expected continued strong growth in 2020.
The company also continues to actively recruit and invest into the growth of its broker network including aggregator channels, in support of achieving the target of a $2 billion loan book in two years.
A bit about Brighten:
Their ability to work with clients with such high customer service level and fast processing speed is incredible.
I have been working with my BDM, Mikai Ning, for two years. Since meeting her, she has continued to impress me with her professionalism, her efficiency, and her patience to listen and explaining all information. Even during pregnancy period, she even said to me personally that if there is anything I require, that Mikai is still contactable and will get back to me as soon as she can. Her attitude is always super nice and is highly passionate about what she does. I have been in this field for so many years and she is the best BDM I have worked with.
Great review for Mikai Ning. Not only is she highly passionate, but she is also very hard working and highly detail oriented in her work. No matter what time of the day, or day of week, she will always get back to us. We highly appreciate Mikai and Brighten for their hard work and ongoing support.
Brighten’s BDM, Liwen, has left a very impressive impression. Whether it is policy or product, she can solve and fix any problem, big or small, she is always reaching out and supporting us. From the beginning, It has been great to work with Brighten’s vastly experience team and great products. I always recommend Brighten to all my clients.
Mikai is a very passionate and proactive person. Our work with Mikai has is nothing but positive outcomes and we look forward to continuing working Brighten and Mikai.
My BDM Leo Liu has been a great help in assisting me setting up the referral program and educating in terms of products and knowledge. I look forward to the greater relationship with Brighten Home Loan and Leo Liu.
Mikai is our BDM and she is a very detail oriented with great work ethic and speed. If there is a policy update, she will always try and get in touch with us as soon as possible to ensure that we received and understand the relevant changes so that we can better accommodate our clients. Thank you for your ongoing support to us brokers.
It has been very convenient with the interest rates being lower also. Brighten home loan was able to solve so many problems for overseas clients. Big thanks to BDM Mikai for all her support.
I need to thank my BDM Liwen Liu. She has been very responsible since the beginning. She is always patient with my home loan scenario enquires. She always tries to do best for the clients. Liwen is very professional, always gives good advice to brokers. She is an excellent BDM. Thank you.