Australian FinTech Athena raises $25m in Series B round

Online mortgage marketplace platform Athena Home Loans has raised A$25m ($18m) in a Series B funding round led by previous backer, Square Peg Capital.

The firm – which invests across Australia, Israel and South-East Asia ­– has been joined in the round by Hostplus and Airtree Ventures.

The firm was already a investor in the business after joining Macquarie Bank, Apex Capital and Rice Warner in a $15m Series A round. Athena also raised $3m last year.

Athena Homes is an online home loan company that aims to help customers get financing quicker and pay it off faster. Founded in 2017, the company uses technology to enable origination and investing through simpler and more transparent funding structures.

The platform works by partnering with ‘super funds’ to back home loans, the article states. Its beta pilot is set to launch next month.

Athena is not the first FinTech Square Peg has invested in, the VC has also backed small business lender Prospa, Indonesian consumer lender Kredivo, agri-financing company Agridigital  and payments platform Stripe.

A Medium post by Square Peg said, “Joining the ranks of companies such as Airwallex, Canva and Culture Amp, who have raised over $20 million this year, this $25 million Series B takes Athena’s total raised to $45 million — a great position to be in as Athena looks to launch their brand in the first half of 2019. We are thrilled to be joined by Hostplus and Airtree in this round.”

Late last year, Square Peg Capital made a $6m investment into international payments company Airwallex, as part of a new partnership.

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