Fintech non-bank lender Bridgit has secured a $250 million facility with Citi as its funder, which its founder says will help it double the size of the bridging loans it offers homebuyers to $8 million, as artificial intelligence dramatically reduces approval times down to just minutes.
The start-up provides bridging loans, with shorter terms and higher interest rates than regular mortgages, which are usually taken out by people keen to buy a new home before their existing property has sold.
Loading...
Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
