Verteva said to close AUS $33m Series A round

May 12, 2020

Australia-based lending platform Verteva has reportedly collected AUS $33m ($21m) in a Series A investment.

The capital injection was supplied by Bolton Equities, according to a report from Tech in Asia.

In conjunction with the close of the round, Verteva has launched out of stealth mode. With the support of the fresh funding, the FinTech will look to boost market entry, product development and business expansion.

The company aims to create a “transformative digital alternative for customers in the home lending space.” The company leverages data-driven insights and digital customer journeys to redesign the home lending experience, it claims.

Verteva claims, “With the vast majority of home loans originated in face-to-face meetings using paper-based forms and clunky credit assessment processes, the home loan industry is badly outdated and its current distribution model is unlikely to survive the digital acceleration brought on by COVID-19.”