ANZ has introduced it will likely be investing in Australian property media and expertise firm View Media Group.
Beneath the settlement, the large 4 financial institution will make investments $50 million for a minority shareholding within the firm. ANZ mentioned it might work with VMG to ascertain a proposed unique monetary providers partnership on key merchandise.
VMG has a portfolio of companies providing client and enterprise property and media associated options, together with a residential itemizing portal, real-estate advertising companies and property-technology companies. These embrace realestateview, propic and beevo.
ANZ mentioned the partnership would assist obtain its present technique of creating a set of providers within the home-owner area that make it simpler to purchase, personal or lease a property.
“This consists of partnering with different service suppliers to that area like actual property brokers and utility operators,” ANZ mentioned.
As a part of the transaction, ANZ will acquire a seat on VMG’s board.
VMG’s proprietor and government chairman is former Area boss Antony Catalano (pictured above) and enterprise accomplice Alex Waislitz is the co-owner. Catalano can be the chief chairman of Australian Neighborhood Media (ACM), which operates greater than 160 regional publications throughout Australia.
The Australian Monetary Overview reported that ANZ’s take care of VMG was aimed toward including extra mortgages to its roughly $700bn mortgage e book.
Seven West Media can be backing VMG, with the AFR reporting the media big invested about $100m within the firm final yr.
In data supplied to Australian Dealer, VMG mentioned the funding from ANZ, when mixed with the funding from Seve West Media and Catalano and Waislitz’s regional publishing enterprise ACM, offers VMG with the viewers attain and
monetary assets to scale its operations and goal alternatives within the annual $300bn actual property transactions market in Australia.
Along with the $50m money funding, ANZ and VMG have agreed to pursue the formation of a strategic alliance in monetary providers, together with additional funding from each events to focus on the mortgage market and different client finance merchandise, VMG mentioned.
“This can be a clear endorsement of the VMG enterprise and the technique we’ve got set ourselves to disrupt the actual property transactional market,” Catalano mentioned. “To obtain monetary backing from one in all Australia’s largest firms speaks volumes for the work the group has accomplished to construct a serious new participant in the actual property media and expertise sector.”
“ANZ has demonstrated that it’s a forward-thinking financial institution and has a transparent plan to put money into rising and disruptive companies: I’m personally very excited to have their backing and may’t wait to ship on our plans, not solely to generate shareholder worth for them however operationally, a gentle stream of monetary providers prospects from throughout the VMG property ecosystem.”