LoanOptions.ai reports strong FY24 performance with growing partner channel
Australia’s leading loan matching technology and broker, LoanOptions.ai, has reported solid growth for FY24 despite a challenging market environment.
The company achieved a 20% increase in deal growth and funded over $96 million in loans, up 14% from FY23.
Key highlights from FY24 include:
Deal Growth: +20%
Net Amount Financed: $96M+ (14% growth)
Total Loan Contracts Settled: 2948+ (20% growth)
Annual Revenue: $7.8M+ (18% growth)
Lender Diversity: 88 banks and lenders, with no single lender receiving more than 15% of loans
"Our partner channel is growing rapidly and is on track to become our dominant channel," said Julian Fayad, Founder and CEO. "We paid out over $2.2 million in referral payments this year, reflecting an 18% growth from the previous year."
LoanOptions.ai’s B2B2C model embeds its technology into other finance systems, enabling mortgage brokers, car dealers, and financial advisors to leverage its platform for better client service. The company also launched LO 3.0, featuring the AutoCompleteEngine (ACE), which reduces the loan application process time to as little as five minutes.
Despite the high interest rates and inflation, LoanOptions.ai maintained a diverse lender panel and continued to prioritize client needs over incentives. The company’s smallest loan was $2,000, and the largest was $658,700, with an average loan size of $32,800.
Looking ahead, LoanOptions.ai plans to launch a new flagship home loan version of its technology as a SaaS product, further expanding its services to mortgage broker partners.
About LoanOptions.ai
LoanOptions.ai is a market-leading loan comparison tool and broker that simplifies and streamlines the personal, car, business, and equipment loan application process for borrowers and lenders.
Launched in 2020, LoanOptions.ai recently launched its Auto Complete Engine that has reduced the loan application process to as little as five minutes by intaking client documents, pre filling information, and using data-driven proprietary technology to match applicants with the best loans tailored to their specific financial situation from a panel of over 80+ lenders.
LoanOptions.ai was named the Finance Brokers Association of Australia’s Industry Supplier of The Year 2023 and listed in the 2023 Deloitte Tech Fast 50. Founder and CEO Julian Fayad has also been named a Sydney Young Entrepreneur two years running.
For more information, please visit https://loanoptions.ai
