ASX-listed actual property firm REA Group – greatest identified for realestate.com.au – is spending $13.3 million on a 27% stake in Marketing campaign Agent, a purchase now pay later resolution for vendor-paid promoting.
The strategic stake within the Melbourne-based fintech was introduced throughout REA Group’s (ASX: REA) half-yearly outcomes in the present day.
CampaignAgent provides a BNPL resolution to the price of advertising and marketing property gross sales thought its product VPAPay.
Based by Shaun Moriarty and Seth Watts in 2017, CampaignAgent has now raised greater than $30 million and closed out 2020 by securing an $80 million warehouse funding facility. In simply two years, the enterprise has had greater than 85,000 property distributors by the 7000-plus brokers on its the fintech platform, with one in 5 properties listed within the Australian market utilizing CampaignAgent.
REA Group CFO, Janelle Hopkins, will be part of the CampaignAgent board, becoming a member of lately appointed chairman David Hackett, the previous MLC Life boss
Moriarty and Watts, who’ve backgrounds in property and finance, met whereas finding out for MBAs and got here up with the concept for CampaignAgent in a ski carry whereas holidaying collectively six years in the past. They continue to be CampaignAgent’s largest shareholders.
Moriarty, the CEO, mentioned the REA Group funding will help their speedy progress plans and product roadmap.
“As the primary firm offering this service in Australia, it’s encouraging to see the sector rising,” he mentioned.
“We recognise the huge potential of partnering with such a revered trade chief like REA to reinforce the corporate’s service providing. For us it’s simply the beginning of our subsequent part of progress.”
REA Group CEO, Owen Wilson mentioned they been following the corporate’s progress for a while.
“We had been impressed by their deep know-how integration throughout the true property ecosystem and the main place that they’ve constructed available in the market,” he mentioned.
It’s been a busy few months for REA Group in relation to investing in startups. Final December it took a 17.9% stake in Realtair, a proptech platform that permits brokers to pitch, signal, automate and streamline the steps from property appraisal to settlement by cellular, easy-to-use know-how. They elevated that holding to 19.9% final Wednesday for an mixture funding of $7.3m.
In its assertion to the ASX in the present day, REA Group mentioned the mix of Realtair and CampaignAgent with current agent promotion merchandise, permits them to create a market-leading providing to assist clients win their subsequent itemizing.
REA Group is among the high 5 tech shares on the ASX. Its outcomes for the half-year to December 31, 2020., the corporate’s income was down 2% to $430.4 million, however working bills fell 13% to $145.8m for an EBITDA of $290.2m, up 9%. Web Revenue was up 13% to $172.1m, with the corporate declaring an interim dividend of 59 cents per share, up 7%.
In morning commerce in the present day, REA Group’s share value is up greater than 3% to $159.50.