WLTH Raises $14M, Acquires Mortgage Mart to Boost Digital Lending

WLTH, a Brisbane-based lending startup, raises $14 million in funding and acquires Mortgage Mart to advance its digital lending goals. Backed by ASX-listed Kina Bank and healthtech investor Rajomon, WLTH aims to lead Australia's digital lending space. The acquisition of Mortgage Mart, with a portfolio exceeding $1 billion, propels WLTH's loan book to over $1.5 billion. WLTH plans to leverage technology to enhance both broker and customer experiences, introducing quick application processes and innovative products.

The collaboration between WLTH, Rajomon, and Kina Bank strategically utilizes WLTH's digital capabilities and Mortgage Mart's industry knowledge. WLTH's core competency engine and payments platform will play a key role in this cooperative effort, aiming to expand the offerings of all parties involved. The acquisition marks WLTH's commitment to addressing the changing landscape of the Australian mortgage market.

Founded in 2019, WLTH, led by CEO Brodie Haupt, previously raised $3 million in six months and secured an additional $5 million in a Seed round in early 2021. The company's focus on digital mortgages aligns with the evolving trends in the global banking industry, emphasizing a swift transition to digital processes and the continued prominence of brokers.

In addition to its financial endeavors, WLTH, in collaboration with Australia SailGP and Parley for the Oceans, demonstrates a commitment to environmental impact by pledging to clean up 50m² of Australian shoreline for each resolved mortgage. The acquisition of Mortgage Mart positions WLTH for growth and innovation in the Australian lending landscape.