An online mortgage broker backed by Macquarie Group but little known in WA has been signed up as the West Coast Eagles’ new major sponsor.
Sydney-based Lendi joins fast food chain Hungry Jack’s as the premiership club’s co-major sponsor, replacing insurer SGIO which ended a 33-year-association with the Eagles at the end of the AFL season.
“As our business continues to grow, so too does our desire to connect with the community through Australian sport,” managing director and co-founder David Hyman said in a joint statement on the Eagles’ website.
“The AFL is an iconic code that reaches a broad and diverse audience, and this opportunity to connect with supporters greatly appeals to Lendi.”
Mr Hyman said the three-year sponsorship provided “a springboard for us to engage with the Eagles’ 80,000 plus members around the country” and get the Lendi name better known.
Announcing the deal, the Eagles described Lendi as “Australia’s No.1 home loan platform”, writing more than $6 billion of home loans since 2013.
Lendi is reportedly 40 per cent owned by its four founders and employees, with Macquarie and Australian technology investment group Bailador among its other shareholders.
Last available financial accounts show its parent company, Auscred Pty Ltd, generated $20 million of commission revenue in the 2016-17 year but made a loss of $11 million as it increased spending to expand operations.
The group topped up its coffers by raising a further $25 million from investors earlier this year to fund the growth.