Athena Home Loan raises $45m in the last 12 months
Venture Capital seems to be alive and well in Oz
Nathan and Michael with Hostplus CIO Sam Sicilia
Nathan Walsh and Michael Starkey, 2 ex bankers, founded a fintech start-up, Athena Home Loans, has closed a $25 million Series B raise, led by Square Peg Capital and supported by Australia’s biggest venture capital investor and industry super fund, Hostplus, and Airtree Ventures, bringing the total raise to $45 million after a $20m round raised by Macquarie Bank and Square Peg.
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.
What does Athena do?
They make the journey to home ownership faster, cheaper and stress free – bypassing the banks.
They have developed a unique funding structure, bypassing the banks to connect borrowers to superfund backed loans.
The company was founded by two ex-bankers, Nathan Walsh and Michael Starkey, who are passionate about.
They are excited about a strategic partnership with Resimac Group.
The money raised will be used to continue to innovate our platform, invest in talent and scale the business.
Paul Bassat Of Square Peg sits on the board and says
“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, and we look forward to supporting them on this extraordinary journey,”
Has over 1.1 million members and $37 billion in funds under management. They have invested over $1 billion of its fully-diversified portfolio committed to Australian venture capital managers.
Hostplus Chief Investment Officer, Sam Sicilia, said that Athena is a great example of disruptive innovation delivering big savings for home loan borrowers.
AirTree is an Australian venture capital firm and has recently raised $250 million to invest in disruptive Australian technology companies.
James Cameron, Partner at AirTree Ventures says, “Athena is building a home loan company that is very different to anything that exists today. 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. We’re excited to be backing them on the journey.”
Athena COO Michael Starkey says that the team has benefited hugely from the insights and support from some of Australia’s smartest investors.